OTHERS IMPIANA HOTELS BERHAD ("IMPIANA" OR THE "COMPANY") PROPOSED DIVERSIFICATION OF THE CORE BUSINESS OF IMPIANA AND ITS SUBSIDIARIES ("GROUP") TO INCLUDE PROPERTY DEVELOPMENT AND RELATED ACTIVITIES ("PROPOSED DIVERSIFICATION")
| IMPIANA HOTELS BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description | IMPIANA HOTELS BERHAD ("IMPIANA" OR THE "COMPANY")
PROPOSED DIVERSIFICATION OF THE CORE BUSINESS OF IMPIANA AND ITS SUBSIDIARIES ("GROUP") TO INCLUDE PROPERTY DEVELOPMENT AND RELATED ACTIVITIES ("PROPOSED DIVERSIFICATION") |
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On behalf of the Board of Directors of Impiana ("Board"), Thinkat Advisory Sdn Bhd wishes to announce that Impiana proposes to seek the approval of its shareholders for the Proposed Diversification.
The on-going redevelopment of Impiana Residences Cherating undertaken by Impiana Cherating Sdn Bhd, a wholly-owned subsidiary of the Company, has been identified as Impiana's maiden venture into property development. The Board expects the property development business to contribute 25% of more of the net profits of the Group and as such, intends to seek the approval of Impiana's shareholders to undertake the Proposed Diversification pursuant to Paragraph 10.13(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
Please refer to the attachment for further information on the Proposed Diversification.
This announcement is dated 11 August 2020. |
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Please refer attachment below.
Announcement Info
| Company Name | IMPIANA HOTELS BERHAD |
| Stock Name | IMPIANA |
| Date Announced | 11 Aug 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-11082020-00057 |