PETALING JAYA: Landmarks Bhd’s indirect wholly owned subsidiary, Tiara Gateway Pte Ltd, will acquire a 5.1% stake in Mendol Investments Pte Ltd from Wong Ho Kit, Sim Swee Yoke and Golden Prosperity LLP for S$1.4mil (RM4.48mil).

In a filing with Bursa Malaysia, Landmark noted the purchase price would be settled through the issuance of 64 million new Landmarks shares at seven sen each, representing 9.53% of Landmarks’ existing share capital.

Landmarks currently owns 49% of Mendol. Upon completion, Mendol will become an indirect subsidiary and enable Landmarks to consolidate Mendol’s results.

Mendol’s main asset is Natra Bintan, a 100-unit glamping resort in Bintan, Indonesia, operated under Marriott’s Tribute Portfolio. The hotel was valued at RM80.35mil as at July 31, 2026.

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