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Hotel Royal increase equity stake in joint venture company


Friday, 4 Apr 2014 05:23am EDT 

Hotel Royal Ltd:Enters into an agreement with Melodies Limited (Melodies) whereby both parties agreed to jointly re-develop the land of Star Mansions, known as Royal Residences in Singapore into a residential development comprising 11 apartment units.After the purchase, Hotel Royal holds 10 out of 11 units of the re-development and Melodies holds 1 unit.Says it increased share from 87.5 pct to 91.63 pct while Melodies’s share has decreased from 12.5 pct to 8.37 pct correspondingly. 

Company Quote

3.85
0.02 +0.52%
19 Sep 2014