Berjaya Land to sell Vietnam operations for $15milBerjaya Land Bhd (BLand) will be exiting its Viet Nam-based Berjaya Long Beach LLC (BLong Beach) business, as it will be selling its entire stake in the latter to Sulyna Hospitality Hotel Restaurant Travel Service Co Ltd for VND333.25 billion or nearly US$15 million. The BLong Beach has 109 standard rooms, six suites and four VIP suites with a swimming pool, restaurants, banquet rooms and a spa centre. BLand owns BLong Beach via its wholly owned subsidiary, Berjaya Leisure (Cayman) Ltd (BLCayman). Le Thi Chi Private Enterprise holds 25 per cet in BLong Beach, while the rest is under the control of Long Beach J.S. Commenting on its plan to exit BLong Beach, BLand said that the stake disposal provided an opportunity for the group to realise its investment in BLong Beach.

Source: VietNamNet News February 17, 2017 06:00 UTC