HL Global Enterprises

HL Global Enterprises: Entered agreement to purchase the remaining 55% stake in Augustland Hotel Sdn Bhd (AHSB) for an aggregate RM16.5m ($6.5m). Since 1994, HL Global held a 45% stake in the hotel developer & operator, which owns 7,113 sqm of freehold land in Cameron Highlands, Pahang, Malaysia and the Copthorne Hotel Cameron Highlands (former Equatorial Cameron Highlands) that is situated on the site, which has 269 guest rooms and total gfa of 341,075 sf. For FY13, AHSB recorded net profit of RM2.1m ($0.85m) and proforma NTA and EPS per share will increase to -0.3¢ (from -0.7¢) and 0.27¢ (from -0.17¢) respectively.