Atlan Holdings diversifies into Malaysian duty-free

Print Article E-Mail Article

Malaysian industrial company Atlan Holdings has said the outlook for the group will be brighter after a restructuring exercise that involves diversifying into the hotel and duty-free business

Relevant authorities have given approval for Atlan to acquire London-based Courseville Holdings, an investment company which holds the rights to the Blakes Hotel brand.

Atlan managing director Wong Kam Fuat said the company had bought Blakes Hotel in London for M$121m ($32m) through Courseville.

Atlan has also acquired a 76% stake in Emas Kerajang, operator of the Emas Kerajang Duty Free Complex in Padang Basar, in Perlis, the northern Malaysian state. The company said Blakes Hotel will be managed by the existing team in London.