Jakarta-based Archipelago opens Malaysia's first Quest Hotel in Port Dickson
This opening represents a key step in Archipelago's ongoing regional growth strategy. The group, which signed a 700-room management contract for the Port Dickson development back in 2018, brings its renowned Quest Hotel brand to Malaysian shores for the very first time.
Originally scheduled to open in mid-2019, the hotel is now welcoming guests with 413 rooms and suites and features Port Dickson's largest convention centre along with a waterpark.
The opening of the hotel is part of a broader vision for the Malaysia Vision Valley masterplan, an ambitious integrated development blueprint that aims to drive economic growth, enhance social wellbeing, and safeguard the natural environment in the region.
Long favoured for its beaches, Port Dickson remains one of Malaysia's top seaside destinations, offering visitors a mix of pristine coastline, family-friendly attractions, and recreational activities. The arrival of a major international hotel brand is set to strengthen the town's appeal as a prime getaway for both domestic and foreign tourists.
"Quest Hotel Midport Port Dickson marks a significant milestone in our expansion in Malaysia. We aim to provide a comfortable stay experience for both families and business travellers. Our goal is to deliver the high service standards that Archipelago is known for," said John Flood, chief executive officer of Archipelago.
With a portfolio spanning more than 45,000 rooms and residences in over 300 hotels across Southeast Asia, Latin America, the Caribbean, the Middle East, and Oceania, Archipelago continues to expand its footprint, bringing its trusted brands to new markets while delivering consistent value and quality hospitality.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
37 minutes ago
- The Star
99 Speed Mart outlook to stay positive in 2H25
PETALING JAYA: Analysts have raised their target prices (TPs) on 99 Speed Mart Retail Holdings Bhd as its first half ended June 30, 2025 (1H25) results either met or beat projections across research houses. RHB Research, which maintained a 'buy' call on the home-grown mini market chain retailer, lifted its TP to RM2.81 from RM2.45 after a 1H25 net profit of RM296.39mil from 99 Speed Mart came in at 51% of both its and consensus full-year forecasts, driven by stronger-than-expected margins. The research house expects earnings momentum to strengthen in 2H25 on the back of robust margins and extended operating hours (opening at 9am instead of 10am) introduced in July, which have seen 'encouraging response'. Post-results, it raised earnings estimates on the retailer for the financial year ending Dec 31, 2025 (FY25), FY26 and FY27 by 3%, 3% and 2%, respectively. RHB Research said opportunities in underserved regions will continue to support outlet expansion and scale, fuelling a three-year earnings compound annual growth rate of 10%. It also noted 99 Speed Mart's domestic-centric and resilient profile, which should appeal to investors amid uncertainties from the US tariff policy. '99 Speed Mart is well-positioned to benefit from the rising disposable income of lower income groups and downtrading trends from elevated inflationary pressures, given its extensive store network and consumer preference for mini-markets,' it said. 'We believe earnings growth over a longer term will also be sustained by 99 Speed Mart's strategies to expand its addressable markets.' CIMB Research also kept its 'buy' call and raised its TP to RM2.80 a share from RM2.60. It expects earnings resilience in 2H25 despite weaker consumer sentiment, supported by new store openings, stronger demand for daily necessities, extended operating hours and government handouts under the Sumbangan Asas Rahmah (Sara) scheme. CIMB Research said its revised TP of RM2.80 is now based on 35 times FY26 price-to-earnings (PE) versus 33 times previously. 'Our revised multiple reflects a 20% premium (up from 10% previously) to the current weighted average PE of large Malaysian consumer caps (29.1 times), justified by stronger earnings growth prospects, 99 Holdings' positioning as a key beneficiary of consumer downtrading and government cash assistance schemes, and its entrenched leadership in Malaysia's mini-market retail segment,' it said. Meanwhile, Hong Leong Investment Bank (HLIB) Research reiterated its 'buy' call on 99 Speed Mart with an unchanged TP of RM2.98, based on 45 times FY25 PE. The research house said it remains upbeat on the group's outlook, underpinned by consistent execution and structural growth drivers. '99 Speed Mart continues to deliver steady top and bottom line expansion, anchored by its aggressive store rollout strategy, with at least 250 new outlets targeted in 2025 and an imminent 3,000 outlet milestone,' it said. HLIB Research added that extended hours and recent promotional campaigns should 'further entrench its value-for-money positioning and reinforce customer stickiness, particularly among cost-conscious households.' On the macro front, the research house expects private consumption to remain resilient, supported by rising disposable incomes from wage adjustments and enhanced fiscal support. Notably, it pointed to the RM100 Sara credit programme, which now extends beyond the B40 segment, as a meaningful near-term catalyst for retail spending. 'Taken together, we believe 99 Speed Mart is well positioned to capture incremental wallet share, leveraging both its expansive footprint and value led proposition,' it said. 'We like 99 Speed Mart due to its strong market presence and extensive store network, with competitive pricing that is well-positioned to drive stable and recurring revenue.'
The Star
2 hours ago
- The Star
Southern Score's maiden entry into data-centre space a positive for firm
PETALING JAYA: Southern Score Builders Bhd 's (SSBB) latest contract win, although small in value, gives the company exposure to the data centre (DC) boom underway in the country. SSBB's 51%-owned subsidiary, SJEE Engineering Sdn Bhd, has secured a subcontract to supply, install, test and commission electrical, telco and security underground infra works, worth a contract value of RM19.3mil from Sunway Construction Sdn Bhd (SunCon). Phillip Capital Research stated the contract win not only provided SSBB with initial exposure to a new DC end-client, but also strengthened its prospects of securing additional work from the client's ongoing DC projects. This is particularly DC-based mechanical and electrical fit out packages, worth an estimated RM100mil to RM200mil. 'This contract marks SSBB's maiden win in financial year 2026 (FY26), lifting its outstanding order book to RM1.3bil, translating to 7.8 times FY24 revenue cover. 'Assuming a 10% profit after tax (Pat) margin for DC-related projects, we estimate this project to contribute RM2mil Pat in FY26, representing 3% of our FY26 forecast,' the research house stated in a report on the construction management services company. The project is scheduled to commence in July and be completed by December this year, although SunCon reserves the right to defer the timeline by up to six months at its discretion. The research house added SSBB's order-book replenishment prospect remained well supported by a RM1.2bil tender pipeline, comprising DC (39%), residential (30%) and government-related building (30%) projects. Due to its robust order book and strategic expansion into the DC space, Phillip Capital Research has maintained its 'buy' rating and target price of 75 sen a share for SSBB. The valuation is pegged to a target 18 times price earnings multiple on the FY27 earnings per share of 4.2 sen. For the third quarter ended March 31, 2025, SSBB's net profit rose to RM10mil from RM7.19mil in the previous corresponding period, while revenue grew to RM59.84mil from RM39.35mil a year earlier. In a filing on its third-quarter financial performance, the company said it is continuously strengthening its position within the construction value chain, ultimately creating greater value for its stakeholders. 'As part of this commitment, the group has successfully expanded its capabilities to include mechanical and electrical (M&E) services through the strategic acquisition of SJEE, an M&E company specialist in the high-tech, DC and healthcare sectors.' Additionally, the group said it had established Southern Score Digital Sdn Bhd – a digital arm focusing on digital engineering advisory, construction advisory and building information modelling services. 'With the integration of these services into the group, the board is confident that the group will be able to secure more contracts to enhance existing order book and chart a path towards greater heights and long-term sustainable success,' it said.
The Star
2 hours ago
- The Star
Genting Plantations JV to have little early impact
BIMB Research described the capital commitment as 'sizeable' and therefore, execution risks exist. PETALING JAYA: Genting Plantations Bhd 's proposed venture into the vegetable-seeds business by partnering with a China firm is expected to have limited impact on near-term profits, owing to likely high upfront costs. Research houses such as BIMB Research and CIMB Research are 'neutral' on the venture. 'We expect contributions to come no earlier than financial year 2027 (FY27) as operations scale up,' BIMB Research said. Meanwhile, CIMB Research said: 'We believe the project is unlikely to be earnings-accretive in the near term given the high upfront capital expenditure required for technology acquisition and seed-breeding or research and developmentfacilities.' It pointed out that Genting Plantations' 60% share of the potential investment in the joint-venture (JV) is about RM315mil. Genting Plantations, via its indirect wholly owned unit ACGT Vegetable AgVentures (AVA), is planning a JV with Shouguang Vegetable Science & Technology (SVST), a Malaysian subsidiary of China's Shandong Shouguang Vegetable Industry Group (CSV). The JV will develop 70 acres of land in Kulai, Johor, into a centre of excellence for tropical vegetable crops. Two JV companies will be formed, one to spearhead seed breeding and technology transfer, and another to manage greenhouses, production, processing and trading. AVA will hold 60% in both entities, while SVST holds 40%. The completion is targeted by the first quarter of next year. In total, the capital commitment is about RM525mil by both parties. BIMB Research described the capital commitment as 'sizeable' and therefore, execution risks exist. 'But Genting Plantations' majority 60% stake and CSV's expertise and proven track record could mitigate downside,' the research house added. It also sees the JV as a strategic diversification beyond palm oil, strengthening Genting Plantations' environmental, social and governance credentials and aligning with Malaysia's food-security goals. 'Partnering CSV accelerates Genting Plantations' entry into high-value vegetable seeds and crops, a segment with growing domestic and export potential,' it added. CIMB Research noted that proceeds from Genting Plantations' recent disposal of agricultural land in Melaka to Scientex Bhd for RM333.8mil should be sufficient to fund the investment. Should the full amount be debt-funded, BIMB Research estimated that Genting Plantations' gearing would rise to about 0.34 times. This is still within comfortable levels and broadly in line with the plantation sector's average of around 0.4 times. 'We do not expect this JV to constrain Genting Plantations' dividend or capital expenditure plans for plantations.' BIMB Research has a 'buy' call on the stock, with a target price of RM6 a share. CIMB Research kept its 'hold' call with a target price of RM5.28.
