The partnership will introduce the first InterContinental resort into Malaysia.

Arena Target Sdn Bhd, a subsidiary of Tradewinds Corporation Berhad (formerly known as Pernas International Holdings Berhad) announced the appointment of InterContinental Hotels Group to manage two of Malaysia's premium hotels. The appointment was the result of an extensive search for a reputable international hotel management company that can enhance the offerings of Mutiara Kuala Lumpur and Mutiara Penang to international travellers.

The strategic partnership will witness the establishment of two world-renowned hotel brands, with the Kuala Lumpur property becoming the first Crowne Plaza hotel in Kuala Lumpur and the Penang property becoming the first InterContinental resort in Malaysia.

"Malaysia has always been a priority for InterContinental Hotels Group and this alliance allows us to increase our presence with the right brands and the right partner in the right locations. By combining Arena's strengths in real estate and our hotel management expertise, we are confident that the synergy will enable the two hotels to be the best in their market place, with quality accommodations and international service offerings, commented Mr A. Patrick Imbardelli, Managing Director, Asia Pacific, InterContinental Hotels Group.

"This appointment by Arena Target clearly demonstrates that our partners recognise the value we bring to the relationship. We have a proven formula that will drive revenue generation and operational excellence in our hotels while at the same time enhancing asset value and profitability for our hotel owners and business partners," Mr Imbardelli added.

Tradewinds Corporation Berhad (TWS Corp) has been seeking an international hotel management partner to enhance selected hotels in its portfolio, in line with its main objective of revitalising its hotels business post-restructuring. This partnership will allow TWS Corp to deliver on its commitment to enhance shareholder value.

Speaking on the decision to partner with InterContinental Hotels Group to achieve this,
En Mohd Redza Shah bin Abdul Wahid, Group Chief Executive Officer of Tradewinds Corporation Berhad, said, "We believe that we have found the right hotel management partner in InterContinental Hotels Group. The strength of InterContinental Hotels Group's hotel management expertise, its world-recognised Crowne Plaza Hotels & Resorts and InterContinental Hotels & Resorts brands and their global infrastructure in marketing and reservation are the impetus for this strategic alliance. We are confident that the partnership with InterContinental will reinforce our leadership of Malaysia's hospitality industry."

InterContinental Hotels Group is the world's most global and largest hotel management group with a network of over 3,500 hotels and 538,000 rooms across nearly 100 countries and territories. The globality of its business allows InterContinental Hotels Group to deliver on its commitment to owners and business partner to create and enhance value. The two hotels will be part of the InterContinental Hotels Group's worldwide network, tapping into its global infrastructure of reservation and marketing as well as the global database of 21 million members of InterContinental Hotels Group's loyalty programme, Priority Club Rewards.

"The alliance between Arena Target and InterContinental Hotels Group is timely as the Crowne Plaza Kuala Lumpur and the InterContinental Resort Penang will be well positioned to capture a significant share of the expected 13 million visitors to Malaysia this year. Both our organisations are looking forward to a mutually fulfilling partnership that will bring benefits to our stakeholders," said En. Redza.


Crowne Plaza Kuala Lumpur

The 36-storey Crowne Plaza Kuala Lumpur will be launched in December 2004. Strategically located in the centre of Kuala Lumpur's banking and commercial centre, it boasts 535 guest rooms that are outstanding and offer high levels of comfort. The Grand Nirwana Ballroom and 13 other meeting suites offer 38,000 square feet of indoor function and meeting space complemented with a full Executive Business Centre. The hotel has undergone a RM93 million refurbishment programme more than one year ago and will continue to enhance its facilities and amenities to position itself as The Place To Meet for business travellers and conference delegates.

Crowne Plaza Kuala Lumpur will join the Asia Pacific network of 34 Crowne Plazas including Crowne Plaza Darling Harbour Sydney, Crowne Plaza Perth, Crowne Plaza Manila, Crowne Plaza Parkview Wuzhou Beijing, Crowne Plaza Shanghai, Crowne Plaza Surya New Delhi, Crowne Plaza Jakarta and Crowne Plaza Auckland. In the pipeline, there will be an additional 20 Crowne Plazas in various stages of development in Asia Pacific by 2006.

Crowne Plaza Hotels and Resorts is one of the fastest growing brands in Asia Pacific. Located in major gateway cities and key meetings destinations around the world, it is aimed at the business and meetings market, providing business travellers and meetings planners comprehensive business services and facilities that contribute to successful interactions.

InterContinental Resort Penang

Mutiara Penang is a landmark hotel in Penang with its 438 guest rooms enjoying sea and garden views. Located on a prime beachfront at Teluk Bahang, otherwise known as the 'Glowing Bay' and nestled in 7.3 hectares (18 acres) of landscaped tropical greenery, it is a luxury escape for many travellers. After a refurbishment programme over the next period of 12 months, the hotel will be launched as InterContinental Resort Penang in the third quarter of 2005.

InterContinental Resort Penang will be part of the Asia Pacific network of 26 InterContinentals including InterContinental Hong Kong, InterContinental Sydney, InterContinental Yokohama, InterContinental Singapore, InterContinental Manila, InterContinental Burswood Resort Perth and InterContinental Beachcomber Resort Bora Bora. In the pipeline, there will be 10 more InterContinental hotels and resorts in various stages of development by 2006.

InterContinental Hotels & Resorts is a prestigious and truly global brand that targets international travellers that are discerning in their choice of hotel accommodations. Located in major cities and resort destination, InterContinental Hotels and Resorts Knows What It Takes to delight international travellers with its luxurious and elegant accommodation and excellent services, complemented with local hospitality.

Both Crowne Plaza Kuala Lumpur and InterContinental Resort Penang will be the two new additions to InterContinental Hotels Group's Malaysia portfolio of five. InterContinental Hotels Group has more than 150 hotels in Asia Pacific, spanning InterContinental, Crowne Plaza, Holiday Inn and Express by Holiday Inn brands.