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KUALA LUMPUR: Glove maker Careplus Group Bhd has entered into a deal to acquire a 90% stake in a hotel in Senawang, Negeri Sembilan.

Careplus is planning to convert the property into a workers' hostel.

"The Proposed Acquisition is part of the Group’s plan to consolidate the workers’ hostels into a central location to enable efficient management and ease of administrative purposes," it said in a filing with Bursa Malaysia today.

Careplus, on Wednesday, entered into a conditional share acquisition agreement to buy Centro Heights Sdn Bhd from its three individual owners for a total of RM3.8mil.

Careplus will take a 90% stake in Centro, while the remaining 10% belongs to Tang Kin San, who will spearhead the management of the hostel.

Careplus has also agreed to grant Tang the option to purchase up to 20% of Centro.

Centro Heights is the owner of the One Garden hotel in Senawang, as well as a double story shop office.

Careplus plans to convert both the hotel and the shoplot to be used as workers’ hostels with permission for a minimum occupancy of 150 workers.

https://www.thestar.com.my/business/business-news/2020/07/22/careplus-buys-one-garden-hotel-in-senawang

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