These agreements comprise the sale of 16 storeys within Tower 2 (Menara B) of Oxley Towers KLCC, which will house a luxury hotel comprising 14 floors of rooms and two floors of facilities.
Oxley Holdings says that its wholly-owned subsidiary, Oxley Rising Sdn. Bhd. (ORSB), has entered into a shareholders’ agreement with Kindway Express Limited (KEL) and Artisan Hospitality Sdn. Bhd. (AHSB). Under the terms of the agreement, ORSB and KEL will invest in the issued share capital of AHSB with ownership stakes of 70% and 30%, respectively.
Under the shareholders’ agreement, ORSB and AHSB are expected to enter into several agreements within 14 business days, including a sale and purchase agreement and a project agreement.
