Shangri-La (M) Sdn Bhd- Business Finance

Topics: Subsidiary, Corporate finance, Cash flow Pages: 18 (7022 words) Published: October 31, 2012
Shangri-La Hotels (Malaysia) Berhad (SHMB) incorporated on 29th June 1971 and registered its office which located at 13th Floor, UBN Tower, 10 Jalan P. Ramlee and postcode 50250 Kuala Lumpur, Malaysia. The head office is located Shangri-La Rasa Sayang Resort and Spa, 10th Mile, Batu Feringgi Beach, 11100 Penang. Shangri-La Hotels operated under hospitality (hotels) industry and engages in variety operation of beach resort, clubhouse, hotels, golf course as well as associates in the provision of commercial laundry services. In addition, it provides property management and investment activities, such as rental of offices, shop lots, apartments, and car parks. Current Board Chairman of the Shangri-La Hotels (Malaysia) Berhad was appointed to Tan Sri A. Razak bin Ramli since 19th May 2005. Principal Bankers of Shangri-La Hotels (M) Berhad are HSBC Bank Malaysia Berhad, Malayan Banking Berhad (Maybank) and RHB Bank Berhad. Shangri-La Hotels (Malaysia) Berhad also operates 2 Traders hotels which located at Kuala Lumpur and Penang each as mid-range and business oriented hotels. Parent company of Shangri-La Hotels (Malaysia) Berhad is the Kuok Group and it was established in the year of 1949. It is traded in Bursa Malaysia Securities Berhad (Bursa Malaysia), Stock Code 5517 and Stock Counter named SHANG. There are total 6 properties under SHMB in Malaysia. Every 2 properties located at Kota Kinabalu are Rasa Ria Resort and Tanjung Aru Resort and Spa, 2 properties in Kuala Lumpur are Putrajaya Shangri-La and Shangri La Hotel Kuala Lumpur, another 2 properties located at Penang, Golden Sands Resort and Rasa Sayang Resort and Spa. Its subsidiaries include Komtar Hotel Sdn Bhd, UBN Holdings Sdn Bhd, UBN Tower Sdn Bhd and Pantai Emas Sdn Bhd. (Shangri-La Hotels (Malaysia) Berhad, 2010) Shangri-La Hotels are five-star privileges hotels that provide deluxe accommodations and a wide range of recreational facilities. Shangri-La's Rasa Sayang Resort and Spa located at Batu Feringgi beach, act as Penang’s top family deluxe resort that include a water sport centre, tennis court, golf course, swimming pools and adventure Zone, a Family Entertainment Centre. Rasa Sayang Resort and Rasa Ria Resort, in Penang and Sabah respectively experienced downturn period in 2001 due to the weakening demand from a slowing global economy and reduction level of international travel. Hence, organization encounters serious shortfall number of visitors particularly from the targeted market United Kingdom (UK) and Europe countries. Putrajaya Shangri-La appeared as an intimate and stylish boutique hotel in Kuala Lumpur. Hotel is fully-equipped with meeting and banquet facilities, offer personalized service such as excellent dining, 5-star spa and Techno Gym. The most recent renovation was done in 2009 consists of nearly 600 addition guestrooms with 101 luxuriously-appointed suites. (Shangri-La Hotels (Malaysia) Berhad, 2009) Golden Sand Resort located at Penang’s popular Batu Feringgi beach. The most recent renovation was done by mid of December 2009, about MYR 50 million redevelopment programs and redefining the standard of 4-star exclusive accommodation with exclusive guestroom, reception and main lobby. The project was scheduled and carried out in phases since May 2008 is upgrading the 30-years-old resort a fresh new outlook. The most recent award in 2010 was "Asia's Top Ten Family-Friendly Resorts" from Holidays with Kids, an Australia's leading family travel website and magazine. In 2009, Golden Sand Resort also awarded the "Best Family Holiday / Resort Excellence Award" from the magazine Expatriate Lifestyle as "The Best of Malaysia Awards". Besides, major renovation program of the garden wing rooms at Rasa Ria Resort commenced in March 2011, will scheduled for full completion during the first quarter of 2012. New upgrade will comprise a total of 330 rooms in eight guestroom blocks including some complete upgraded public areas. Total revenue...

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