Fri, Nov 17, 2017 – 9:11 PM
GUOCOLAND Limited announced on Friday that it has undertaken an internal restructuring exercise where certain hotels in the GuocoLand Group, held and owned by different subsidiaries within the GuocoLand Group in Singapore and Malaysia, will be consolidated under a distinct strategic business unit GuocoLand Hotels (GLL Hotels).
The company said that the internal restructuring will enable the GuocoLand Group to “better align its holding of hotel assets, promote business efficacy and enhance synergy”.
It will involve the transfer of shares in the company’s subsidiaries holding the respective hotel assets to GLL Hotels.
On the Singapore side, GLL Hotels had entered into an agreement with GuocoLand Singapore i…
Read the full article at: http://www.businesstimes.com.sg/companies-markets/guocoland-announces-internal-restructuring