KUALA LUMPUR: Singapore-based Furama Hotels International will open its flagship hotel in Malaysia, as it takes over the management of the hotel component of the Taragon Puteri KL integrated development- This follows the planned sale of the hotel to Grace Hub Sdn Bhd- A search with the Companies Commission of Malaysia reveals that it was registered in January 11 2011 and involved in general trading, investment holding and property and construction- The directors of the company are Hong Kim Moi from Klang, Lau Hui Teck from Sarawak and Ng Wei Yeow from Singapore- According to filings to the Singapore Stock Exchange in December 2009, Ng is a director of Samta Hotels Pte Ltd, which later bought over Furama Ltd and delisted it- Lau, meanwhile, was the executive director of Furama Ltd- In a press release issued yesterday, Bluestone Group Malaysia's wholly-owned unit Taragon Capital Malaysia Sdn Bhd (TCM) said that the latter had entered into an agreement to sell the hotel to an overseas investment company, Grace Hub- A spokeperson from TCM said that the sale was a strategic decision- "The status of the hotel was recently the subject of speculation and several unauthorised sales agents have made false representations to potential buyers," the statement added- "We hope that with the announcement of sale, our position concerning the hotel is clear," the spokesperson added- Bluestone's announcement comes a day after Business Times reported that Australia's StayWell Hospitality Group said that it had relinquished the management agreement to operate the hotel- StayWell chief executive officer Simon Wan said various building designs and product positioning differences between both parties had emerged during the planning process which resulted in the conditional agreement to end the operating agreement by mutual consent- StayWell had last August signed a deal with Taragon to operate the property after an earlier management contract between Taragon and Rendezvous Hospitality Group was terminated- Meanwhile, Furama has taken out advertisement to hire staff for the hotel- The hotel, a 27-storey building with 443 rooms, is located in Changkat Thambi Dollah, off Jalan Pudu- ...

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