Resort-hotel deal signed

CYGAL Bhd and SamaWorld (M) Sdn Bhd yesterday signed a shareholder agreement to jointly develop a 850-room resort-hotel in Genting Highlands at a cost of RM300 million. The proposed resort-hotel is located on a 4ha site fronting the SamaWorld Theme Park now under construction, Cygal chairman Datuk Ujang Bagong said at the agreement signing ceremony. The ceremony was attended by Housing and Local Government Minister Datuk Dr Ting Chew Peh. Ujang said Cygal holds 70 per cent equity in the proposed development with the remaining 30 per cent held by SamaWorld. SamaWorld is a joint venture between SamaWorld Asia Sdn Bhd, Perbadanan Kemajuan Negeri Selangor and Koperasi Polis DiRaja Malaysia Bhd'…