TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS YTL HOSPITALITY REIT ("YTL REIT") PROPOSED RENOVATION OF A HOTEL IN IPOH, PERAK FORMERLY KNOWN AS "SYEUN HOTEL" ("PROPERTY")
| YTL HOSPITALITY REIT |
| Type | Announcement | |||||||||
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) RELATED PARTY TRANSACTIONS |
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| Description | YTL HOSPITALITY REIT ("YTL REIT")
PROPOSED RENOVATION OF A HOTEL IN IPOH, PERAK FORMERLY KNOWN AS "SYEUN HOTEL" ("PROPERTY") |
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We refer to the announcement dated 8 April 2024 in relation to the Proposed Renovation (“Announcement”). Unless otherwise stated, abbreviations used herein shall have the same meanings as those defined in the Announcement.
The Board wishes to announce that following completion of the Proposed Renovation at the Renovation Costs of RM55,000,000, the Property which is now known as AC Hotel Ipoh will be leased to Prisma Tulin Sdn Bhd (“Lessee”) (a wholly-owned subsidiary of YTL Corp) under a lease agreement effective 1 April 2025 for a period of fifteen (15) years with an option granted to the Lessee to renew for a further term of fifteen (15) years. The annual rental payments which include a step-up provision of five per cent (5%) every five (5) years are as follows:
Notes: 1. From 1 April 2025 to 31 March 2030.
This announcement is dated 17 March 2025. |
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Announcement Info
| Company Name | YTL HOSPITALITY REIT |
| Stock Name | YTLREIT |
| Date Announced | 17 Mar 2025 |
| Category | General Announcement for PLC |
| Reference Number | GA1-11032025-00037 |