Cahya Mata unit in apartments, hotel deal

CAHYA Mata Sarawak Bhd's 51 per cent unit has formed a joint venture with four parties to help it build, own and manage serviced apartments and a four-star hotel in Kuching Isthmus in Sarawak.

CMS Land Sdn Bhd will have a 10.3 per cent stake in the joint venture company.

The other parties are Premier Cottage Sdn Bhd, Boulevard Jaya Corp Sdn Bhd, Hikmat Majusama Sdn Bhd and Isthmus Development Sdn Bhd.

By Business Times