Prime Minister Officially Opens The Royale Chulan Kuala Lumpur

KUALA LUMPUR, March 18, 2010 – YAB Dato’ Sri Mohd Najib bin Tun Haji Abdul Razak, Prime Minister of Malaysia officially opened the Royale Chulan Kuala Lumpur yesterday. Also present at the event was YABhg Datin Sri Rosmah Mansor.

YB Dato’ Sri Dr. Ahmad Zahid bin Hamidi, Defence Minister of Malaysia, and other dignitaries were also present at the event.

The five-star hotel owned by Lembaga Tabung Angkatan Tentera (LTAT) and managed by Boustead Holdings Berhad (Boustead Group) via Boustead Hotels & Resorts Sdn Bhd was built to the tune of RM200 million and enjoys a prime location in the centre of Kuala Lumpur’s downtown business and tourist belt.

The hotel showcases 402 rooms, 14 meeting rooms, a grand pillarless ballroom and an exclusive private function room with an uninterrupted panoramic view of the KL skyline.

The hotel prides itself in offering its guests gracious Malaysian hospitality and staff are specially trained to provide professional, discrete, warm and friendly service. This is in line with its support of the 1Malaysia campaign where tourism is viewed as not just a source of income for our country but also as a display of the nation’s diversity and unity.

YBhg Laksamana (Rtd.) Tan Sri Dato’ Sri Mohd Anwar bin Hj. Mohd Nor, Chairman of Lembaga Tabung Angkatan Tentera said “On the investment front, it has always been LTAT’s policy to adopt a diversified investment strategy and on this score our investment in the property sector has augured well for us.”

“The Royale Chulan’s location in the centre of Kuala Lumpur is in line with our aim to invest in valuable properties within our bustling city. This hotel complements our other properties, namely Bangunan LTAT and Chulan Tower which are both located within the radius of the Royale Chulan.”
“Our compliments to the Boustead Group for having done a fine job to manage this hotel. Their experience in managing this successful chain of Royale Bintang hotels augurs well for them and we are confident with their track record to date, the Royale Chulan Kuala Lumpur will be successful.”

YBhg Tan Sri Dato’ Lodin Wok Kamaruddin, Group Managing Director of Boustead Holdings Berhad said “The Royale Chulan is a jewel in the crown of the Royale Bintang group of hotels.”

“Since its soft opening in April last year, the hotel is fast gaining an enviable reputation as the venue of choice for prestigious events locally and internationally. We have played host to an array of events including the Malaysia International Gourmet Festival 2009 Gala Launch, Miss Malaysia Universe 2009, the 6th World Chambers Congress 2009 and the D8 Ministerial Meeting.”

“In addition, we have had numerous weddings and parties with almost every weekend booked. Our occupancy rate is encouraging given that we are barely one year old.”

The Boustead Group counts a number of reputable hotels in its chain, with the first Royale being the Royale Bintang Kuala Lumpur. The four-star hotel located in the shopping and tourist belt of Kuala Lumpur enjoys good occupancy throughout the year. The same can be said for the Royale Bintang Damansara, located in the thriving Mutiara Damansara Commercial Centre. The five-star 300 room Royale Bintang Seremban is situated in the picturesque Lake Gardens district of Seremban. In addition, three new four-star hotels are being built currently in Selangor, Pahang and Penang. With the completion of these initiatives, the Group will have six hotels in its chain.

Since its inception as a modest trading entity more than 180 years ago, the Boustead Group has grown by leaps and bounds to comprise more than 90 subsidiary and associate companies, and has substantial interests in various sectors of the Malaysian economy. The Boustead Group’s operations are focused in six key areas; plantation, heavy industries, property, finance & investment, trading and manufacturing & services. As at 31 December 2009, Boustead Holdings Berhad’s paid-up capital is RM456 million, while its shareholders’ funds stand at RM3.8 billion. Market capitalisation currently is in excess of RM3.0 billion.