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OTHERS TA GLOBAL BERHAD (TAG OR THE COMPANY) - TEMPORARY CLOSURE OF THE COMPANY'S HOTELS

TA GLOBAL BERHAD

Type Announcement
Subject OTHERS
Description 
TA GLOBAL BERHAD (TAG OR THE COMPANY) 
-	TEMPORARY CLOSURE OF THE COMPANY'S HOTELS

The Board of Directors of TAG wishes to update on the latest business developments in its Hotels Division.

The recent outbreak of the coronavirus disease (COVID-19) in many countries, which is a rapidly evolving situation, has disrupted global travel and supply chains, and has adversely impacted global commercial activity, especially the hospitality industry. The cities where the Company has its hotels operations have issued their respective proactive measures to curb the spread of COVID-19.

In line with the respective measures, the Company will be temporarily closing the business operations of its following hotels:-

No.

Affected Hotels

Closure Dates

Reason for Closure

1.

Aava Malacca Hotel, Malacca, Malaysia

 

19 March 2020 until 28 April 2020 (may subject to change if the MCO is further extended by the Government of Malaysia)

 

Due to the Movement Control Order (“MCO”)  imposed by the Government of Malaysia

 

2.

Four Points by Sheraton Bangkok, Sukhumvit 15, Bangkok, Thailand

 

2 April 2020 until further notice

Due to mandatory closure of food and beverage (“F&B”) outlets by Bangkok City Hall, and business disruption from travel ban and restriction imposed by the Government of Thailand including nightly curfew and soft lockdown in Bangkok.

 

3.

Movenpick Resort and Spa Karon Beach, Phuket, Thailand

 

1 April 2020 until further notice

Due to mandatory closure of all F&B and hotels imposed by the Governor of the Province of Phuket and lockdown of Karon in Muang district by order of the Phuket Governor.

 

4.

Radisson Plaza BLU, Sydney, Australia

 

27 March 2020 until further notice

Due to mandatory closure of all F&B, travel ban, closure of borders and entry restriction for non-residents and non-citizens under Australia new restriction response to the COVID-19 pandemic.

 

5.

AAVA Whistler Hotel, Whistler, Canada

 

25 March 2020 until further notice

Due to mandatory closure of all F&B, business disruption from domestic and interprovincial travel restrictions, closure of the Canada-US border to all non-essential travel and the Canadian government’s ban on air travel into Canada by foreign nationals.

 

6.

Trump International Hotel & Tower Vancouver, Vancouver, Canada

 

4 April 2020 until further notice

 

The temporary closure of the aforesaid hotels is also one of the measures to protect the health of guests and employees, support social distancing and control costs. During the temporary closure period, the Company will prudently implement cost control measures and continue to closely monitor the daily developments in the COVID-19 situation in each of the cities with a view of recommencing its hotels’ operations.

Given the current evolving circumstances of COVID-19 in various countries, it is not possible for the Company to quantify or determine the extent of the impact on the Group’s hospitality business and financial position. However, this temporary closure is expected to reduce the net cash flow generated by the Hotel Division in year 2020. Nevertheless, the Company will undertake appropriate measures to mitigate the current situation and hope that business will return to normalcy by the last quarter of 2020.

 

This announcement is dated 13 April 2020.



Announcement Info

Company Name TA GLOBAL BERHAD
Stock Name TAGB
Date Announced 13 Apr 2020
Category General Announcement for PLC
Reference Number GA1-13042020-00056


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