Berjaya Resort (Sabah) currently owns the eight-storey 160-room Berjaya Palace Hotel, an open-air car park and a manager's bungalow on two parcels of land measuring 0.81ha in Karamunsing, Sabah.

NPC Resources is involved in oil palm plantations, palm oil mills, management and transportation services, and trading of fresh fruit bunches operations.

In a statement on Dec 5, Berjaya Land said the disposal represented a good opportunity to realise its investment in Berjaya Resort (Sabah) as the hotel was 18 years old and required a major refurbishment to remain competitive.

It said the disposal would also allow Berjaya Vacation to recover its outstanding advance of about RM10 million to Berjaya Resort (Sabah), and the proceeds from the disposal would be used for the company's working capital purposes.

Berjaya Land said the disposal would result in an exceptional group loss of RM8 million.