KUALA LUMPUR – The four hotels under Lembaga Tabung Haji (TH) will continue their operation under new management, UJ Property Management Sdn Bhd (UJPM).
According to the Lembaga Tabung Haji (TH), the transfer of operation and services of the hotel chain by UJPM is part of the Rehabilitation and Restructuring Plan of Tabung Haji, to reduce the commitments of the government.
“The hotel operations takeover from THHR (TH Hotel and Residence Sdn Bhd) is a measure which needs to be taken by UJ (Urusharta Jamaah Sdn Bhd) to fulfil its mandate by the government, to reduce the commitment of the government.
“UJ plays important role in ensuring that the objective is achieved and it will always work to expand the assets value under the UJ portfolio,” it said in a statement today.
UJPM is a subsidiary of UJ.
The four hotels involved in the transfer of management are namely, the TH Hotel Kota Kinabalu, TH Hotel Penang, TH Hotel & Convention Centre Alor Setar and TH Hotel & Convention Centre Terengganu, which were previously managed by THHR.
The statement was issued following reports stating that THHR would be closing down four hotels with effect of 1 April.
According to that statement, the hotels would be rebranded as Raia Hotel beginning 1 April 2020 under the new management.
“All the hotels are under part of the assets transfer which includes 29 property assets, one (1) unlisted company and RM9.63 billion worth of equities on the day of transfer.
“UJ has published sukuk amounting to RM19.6 billion and paid RM300 million in cash to complete the transaction,” it added.
Meanwhile, TH said that all the employees are given the guarantee that they would not be laid off. On the contrary, 90 percent of them will work in Raia Hotel. Meanwhile, the remaining 10 percent will be absorbed into THHR Kelana Jaya and they will also receive a bonus.
“Besides that, 90% of the staff involved would also receive a bonus based on their contributions throughout their years of service in THHR.
“TH will always take care of the welfare of its employees involved for the sustainability of their career in the future,” it said. -MalaysiaGazette