Improvement in the Hotel Operation segment was as a result of increased in occupancy rate due to special travel visa issued for China travellers and also included of business from WOLO Kuala Lumpur into a new subsidiary of the Group.
Magma are going to focus on its core operations within the hospitality sector, including its flagship hotels, Impiana KLCC Hotel, Impiana Hotel Ipoh, Impiana Hotel Senai, and WOLO Kuala Lumpur. Q3 will back in profits
The approval of the RCN fund-raising exercise provides us with the necessary financial resources to strengthen our balance sheet, enhance our hotel offerings, and capitalise on growth opportunities within the recovering tourism market.
Something not right about hotels revenue,only 6m? 5 hotels x (100 room x70%) x 200 rgt x 365 days =$25.5m rgts this is based on average occupancy rate of 70%
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BuildBackBossku
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Posted by BuildBackBossku > 2024-08-27 16:36 | Report Abuse
Optimistically speaking, it might turn losses into profits in q2 😬