SINGAPORE (Sept 1): GuocoLand is selling a Johor Bahru hotel and the land plot it sits on for RM150 million, and will book a net gain of RM35 million or S$11 million upon completion of the deal.

The buyer of the five-star Thistle Johor Bahru is YTL Hotels & Properties, a subsidiary of YTL Corporation Bhd (KL:YTL), said GuocoLand in a Singapore Exchange filing on Monday.

The possibility of this transaction was first reported by The Edge Malaysia weekly in its Aug 18-24 issue...(click here for the full story on theedgesingapore.com).