TA Global Bhd, set to become Malaysia’s fifth-biggest listed property group, plans to double the number of hotels it owns in five years, adding to a portfolio that includes the Radisson Plaza in Sydney and the Westin Melbourne.
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| Ms Tiah: ‘I want to buy hotels in gateway cities like London’ |
It wants to build at least two hotels in Kuala Lumpur and make acquisitions in overseas markets from the UK to Canada, said Alicia Tiah, managing director and co-founder of its parent company, the Malaysian brokerage TA Enterprise Bhd.
‘Definitely we want more. We want to develop our own chain. I want to buy hotels in gateway cities like London,’ she said in an interview in Kuala Lumpur yesterday. ‘But some are not cheap, some too big, some too small; it takes time to get the right fit. I want people to show me what they have.’
TA Enterprise, whose shares have more than doubled this year, folded all its property assets into TA Global, which will be listed on the Kuala Lumpur stock exchange on Nov 23 to tap a resurgent stock market. Continue reading
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