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Nice, MAGMA has received approval from shareholders at its EGM for the proposed issuance of redeemable convertible notes (RCN) to raise up to RM100 million !
Magma are going to focus on its core operations within the hospitality sector, including its flagship hotels, Impiana KLCC Hotel, Impiana Hotel Ipoh, Impiana Hotel Senai, and WOLO Kuala Lumpur. Q3 will back in profits
Profit improve due to increased in occupancy rate due to special travel visa issued for China travellers and also included of business from WOLO Kuala Lumpur into a new subsidiary of Magma.