The Board of Directors of Country Heights Holdings Berhad ("CHHB" or the "Company") wishes to announce that the Company's indirect subsidiary, Mines Wellness Hotel Berhad ("MWHB"), being the owner of Mines Beach Resort ("MBR") has received notice of termination of the management agreement.
MBR had entered into a management agreement with a third-party management company, Tamara Concierge Sdn Bhd ("Operator") on 10th September 2024. The Operator gave a notice for early termination to MWHB on 25 February 2026.
Following the receipt of the Termination Notice, MWHB and the Group had undertaken the necessary measures to ensure continuity of the operations of MBR and will assume direct management and operation of MBR, with effect from 1 May 2026.
Prior to the termination notice, MWHB provided opportunities to the Operator to recover from its breaches and gave option to the Operator to provide Proof of Funds, demonstrating its financial capability to continue performing under the management agreement, but the Operator had failed to do so and proceeded with the early termination.
MWHB is currently evaluating and reserves its rights to pursue legal recourse in respect of the unfulfilled term of the management agreement, which includes claims relating to management fees, revenue sharing, liabilities and damages arising therefrom.
The Board of the Company has undertaken a preliminary assessment of the operational and financial implications arising from the termination and is concurrently implementing the necessary operational transition measures.
The Board deems it appropriate to make this announcement pursuant to its obligation to ensure timely disclosure of material information.
MBR shall continue to operate in the ordinary course of business, and the Group remains committed to ensuring uninterrupted services to its guests, customers and business partners.
The Company will make further announcements, as and when there be any material development in relation thereto.
This announcement is dated 30 April 2026.