PETALING JAYA: Golden Destinations Group Bhd expects its proposed RM45 million acquisition of properties at Menara Liberty, Kuala Lumpur, to generate RM2.34 million in annual rental income and save RM630,000 a year in rental costs.
The travel services group said the rental income would be derived from existing tenants at the properties, including a proposed leaseback arrangement with Liberty, while the savings would come from consolidating its existing offices into a new centralised headquarters, according to a filing with Bursa Malaysia.
Golden Destinations, through its wholly owned subsidiary ICE Holidays Sdn Bhd, had in June proposed acquiring two commercial parcels and nine office parcels within Menara Liberty, together with 98 parking bays, for RM42.75 million, and the adjoining Menara Liberty Annex for RM2.25 million.
The properties have a combined independent market value of RM48.13 million, comprising RM45.73 million for the first property and RM2.4 million for the annex, based on a valuation by Laurelcap Sdn Bhd as at May 20, 2026. This means the total RM45 million purchase consideration represents a discount of about RM3.13 million, or 6.5%, to the valuation.
The proposed new headquarters is expected to centralise its workforce and provide additional capacity for expansion, particularly for its tour operations, reservation, ticketing, sales and marketing functions.
The RM45 million acquisition will be funded from the proceeds of Golden Destinations’ initial public offering (IPO), which had earmarked RM50 million for the acquisition and renovation of a new headquarters.
Of the RM50 million allocation, RM45 million will be used for the property acquisition while RM5 million has been earmarked for renovation.
Golden Destinations said the actual renovation cost had yet to be determined and any amount exceeding RM5 million could be funded through internal funds and/or bank borrowings.
Golden Destinations said it is targeting completion of the acquisition by the end of the fourth quarter of 2026.
