MUI’s transformation journey

PETALING JAYA: The Covid-19 pandemic has disrupted businesses for the entire 2020, even more so for Malayan United Industries Bhd (MUI), which has been trying to forge a turnaround since 2018. Being involved primarily in the retail, hospitality and property businesses, it is to no surprise that MUI was adversely affected this year, besides Covid-19’s attempt in…

Operasi Metrojaya tidak ditutup

KUALA LUMPUR: Metrojaya Bhd (Metrojaya) meneruskan operasi perniagaan peruncitannya seperti biasa termasuk rangkaian anak syarikatnya seperti MJ Department Stores Sdn Bhd dan EIC Clothing Sdn Bhd. Ia sekali gus menyangkal laporan bahawa syarikat itu sudah ‘gulung tikar’ disebabkan pandemik COVID-19. Metrojaya adalah anak syarikat Malayan United Industries Bhd (MUI), yang memiliki kepentingan sebanyak 98.21 peratus.…

MUI clarifies Metrojaya Bhd continues operating as usual

KUALA LUMPUR (June 1): Malayan United Industries Bhd (MUI) clarified today that its 98.21%-owned subsidiary Metrojaya Bhd continues to operate its retailing business as usual through various subsidiaries including MJ Department Stores Sdn Bhd’s outlets and EIC Clothing Sdn Bhd’s East India Company specialty store. MUI said in a Bursa Malaysia filing dated May 31…

Business as usual for Metrojaya

KUALA LUMPUR: Metrojaya Bhd has clarified that its Metrojaya department stores and East India Company speciality store are running as usual. “The company is aware that there has been some confusion over the winding-up news of two of its dormant subsidiaries, Metrojaya Department Stores Sdn Bhd (MDS) and East India Company Clothing (Malaysia) Sdn Bhd…

MUI to sell London hotel

PETALING JAYA: In line with its strategy to rationalise the business under its new leadership, Malayan United Industries Bhd (MUI) is looking to sell the Corus Hotel Hyde Park in London, United Kingdom. The group announced yesterday that its indirect unit, Corus Hotels Limited (CHL) had appointed international investment bank N.M. Rothschild & Sons Ltd…

MUI prepares for a new reality post-Covid-19

A company with its core business in the hospitality and retail sectors, MALAYAN UNITED INDUSTRIES BHD (MUI) is going through what could be one of its toughest challenges yet. The asset-rich company, once known as among the top corporate powerhouses in Malaysia, is among those facing the harsh financial repercussions of the Covid-19 pandemic, with…

MUI on the transformation path

MUI Group is now just about halfway into its three-year turnaround plan, but is everything going according to schedule? We ask Executive Chairman Andrew Khoo Boo Yeow about progress, challenges and stepping out of his dad’s shadow. Source: The Edge Markets

Newsbreak: MUI mulls redevelopment of Corus Hotel KL

THE 36-year-old Corus Hotel Kuala Lumpur in Jalan Ampang may be demolished to make way for an integrated development as the owner, Malayan United Industries Bhd (MUI), is considering unlocking the value of the strategically located land. It is mulling the construction of a 55-storey building comprising serviced apartments, co-working space, a hotel and a…

High-grade gold ore discovered in MUI-linked Aussie mine

KUALA LUMPUR: The Australian gold exploration company in which MUI Properties Bhd is taking a 40.7% stake, has found “high-grade gold mineralisation” at a site in Western Australia. Nex Metals Exploration Ltd, which is listed on the Australian Securities Exchange, recently announced the findings of the 10 drill holes in the Kookynie mining site. MUI…