All parties have agreed to terminate the agreements with effect from 11.59pm on Aug 31.
Tuan Sing Holdings (SGX:5IC
) announced, on July 1, that it has terminated its hotel management agreements for Hyatt Regency Perth Hotel.
The company’s indirect wholly-owned subsidiary, HR Operations Pty Ltd entered into a deed of termination and release with Hyatt of Australia Limited and Hyatt Services Australia Pty Limited on the same day. HR Operations and Hyatt of Australia are parties to a management agreement dated Aug 8, 1996 while HR Operations and Hyatt Services Australia are parties to a shared services agreement dated May 4, 2001.
