MAHB terminates hotel JV with Atoz

KUALA LUMPUR (Sept 18): Malaysia Airports Holdings Bhd has ended its joint venture agreement (JVA) with Atoz Hospitality Services Sdn Bhd to run and manage airport resorts.

In statement to the exchange today, MAHB stated the “the joint venture has confronted issues due to the non-participation and drawback of a key individual in the management and operations of the JV company”.

MAHB’s wholly-owned additional K. L. Airport Hotel Sdn Bhd (KLAH) and Atoz owns 51% and 49% respectively within the JV firm Sama-Sama Hospitality Administration Sdn Bhd (SSHM). The JOINT VENTURE firm, set up on December thirty-one, 2012, undertakes the operation and management of airport hotel brand name under the “Sama-Sama Hospitality Group” banner.

Subsequently, KLAH and SSHM had signed a hotel management agreement on January 2, 2013 for the management and procedure of the Sama-Sama Hotels.

“Further to our announcement dated thirty-one December 2012, the board of directors of MAHB wishes to announce that KLAH, a wholly-owned subsidiary of MAHB had upon 18 September 2013 , pursuant to the terms of the JVA, issued a written notice of end of contract to Atoz, to terminate the JVA with immediate effect.

“The termination of the JVA will not affect the management and functions of the Sama-Sama Hotels as required measures have been taken by the board and management to ensure there will be simply no disruptions to the same once the end of contract takes effect, ” MAHB stated.


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KUALA LUMPUR (Sept 18): Malaysia Airports Holdings Bhd has terminated its partnership agreement (JVA) with Atoz Hospitality Services Sdn Bhd to run and manage airport hotels.

In statement to the exchange today, MAHB said the “the joint venture has faced issues because of the non-participation and withdrawal of a key individual in the management and functions of the JV company”.

MAHB’s wholly-owned subsidiary K. D. Airport Hotel Sdn Bhd (KLAH) and Atoz owns 51% and 49% respectively in the JV firm Sama-Sama Hospitality Management Sdn Bhd (SSHM). The JV firm, set up on December 31, 2012, undertakes the operation and management of airport hotel brand under the “Sama-Sama Hospitality Group” banner.

Subsequently, KLAH and SSHM had signed a hotel management agreement on January 2, 2013 for that management and operation of the Sama-Sama Hotels.

“Further to our announcement dated 31 December this year, the board of directors of MAHB wishes to announce that will KLAH, a wholly-owned subsidiary of MAHB had on 18 September 2013 , pursuant to the terms of the JVA, issued the written notice of termination to Atoz, to terminate the JVA with immediate effect.

“The termination of the JVA will not impact the management and operations of the Sama-Sama Hotels as necessary measures were taken by the board and management to ensure there will be no disruptions towards the same once the termination takes effect, ” MAHB said.

“Further, the change will not affect the schedule for the poker tournaments scheduled for later in the year.  This will continue as planned.

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