Economy
Dusit Hotels and Resorts set for Malaysia debut with the opening of Dusit Princess Melaka
The centrally located property is ready to welcome business and leisure travellers from 7 December 2024
MELAKA, MALAYSIA – Media OutReach Newswire – 3 December 2024 – Dusit Hotels and Resorts under Dusit International, one of Thailand’s leading hotel and property development companies, is delighted to announce the soft opening of its first hotel in Malaysia, Dusit Princess Melaka, on 7 December 2024.
Strategically located in the heart of Melaka, a UNESCO World Heritage City renowned for its vibrant culture and history, Dusit Princess Melaka marks a significant milestone for Dusit as it enters the Malaysian market.
Melaka’s reputation as a global tourist destination continues to grow, thanks to its unique blend of heritage and health tourism. By September 2024, the state welcomed approximately 10 million visitors, surpassing its annual target of 8.7 million. With a significant number of travellers arriving from key markets such as China and Singapore, Dusit Princess Melaka is ideally positioned to meet the needs of this expanding international audience.
Blending Dusit’s signature Thai-inspired gracious hospitality with a contemporary design tailored for both business and leisure travellers, Dusit Princess Melaka occupies the former Ramada Plaza Melaka building, which has undergone a refurbishment and complete rebranding to reflect the distinctive essence of the upper-midscale Dusit Princess brand.
From spacious and elegantly appointed Deluxe rooms with city views to the expansive Presidential Suite, every room in the 296-key property is thoughtfully designed with modern comforts and attentive details, ensuring a relaxing and enjoyable stay for families, solo travellers, and visiting executives alike.
For relaxation and rejuvenation, the hotel features a fully equipped gym and a large swimming pool. Guests can also enjoy a variety of dining experiences, including Zest, an all-day dining destination offering sumptuous buffet spreads, and Long Feng, a beloved local favourite renowned for its authentic Chinese cuisine and signature dim sum.
The hotel is also well-equipped for conferences and social gatherings, with state-of-the-art meeting facilities and a grand ballroom capable of hosting up to 1,000 guests, delivering a seamless and sophisticated setting for events of any scale.
For those seeking an immersive journey, the hotel’s central location is a standout feature, offering unparalleled convenience for exploring Melaka’s rich cultural heritage and historical attractions. The bustling business district and popular landmarks such as Dutch Square, St. Paul’s Hill and Church, A’Famosa Fort, and Jonker Street Market are all within easy reach. Malacca International Airport is just a 17-minute drive away, while Kuala Lumpur International Airport can be reached in approximately one hour and 45 minutes by car.
“We are delighted and honoured to unveil Dusit Princess Melaka, bringing our unique brand of Thai-inspired gracious hospitality to Malaysia for the first time,” said Gilles Cretallaz, Chief Operating Officer, Dusit International. “This opening represents a significant milestone in the ongoing expansion of Dusit Hotels and Resorts. With its distinctive blend of comfort, convenience, and heartfelt service, we are confident the hotel will not only become a preferred destination for travellers but also provide an enriching gateway for guests to connect deeply with Melaka’s vibrant history and culture.”
To celebrate its soft opening, Dusit Princess Melaka is offering exclusive introductory packages for stays and dining experiences. For more information and reservations, please visit dusit.com/dusitprincess-melaka or follow the hotel on Facebook and Instagram at @dusitprincessmelaka.
Hashtag: #dusit
The issuer is solely responsible for the content of this announcement.
About Dusit Princess Melaka
Discover a hideaway at Dusit Princess Melaka where modern comforts meet historical charm. Take a break in comfortable accommodation with city views, ranging from Deluxe rooms to the spacious Presidential Suite. Swim laps in the pool or energise in the gym. Located in the vibrant UNESCO World Heritage City, explore Dutch Square, St. Paul’s Hill and Church, A’Famosa Fort, or Jonker Street Market. Embark on a culinary journey with iconic Chinese dishes at Long Feng or cocktails at Famosa Lounge. Your amazing escape awaits.
For more information, please visit 
https://www.dusit.com/dusitprincess-melaka/
By Adedapo Adesanya
About 143 companies that successfully passed the technical and prequalification stages of the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) 2025 Licensing Round will, today, compete for 50 oil and gas blocks at the commercial bid conference in Abuja, the final stage in the allocation process for the assets.
The commission said only the prequalified companies have been invited to attend the event, which will hold at the Conference Centre of the Transcorp Hilton Hotel, Abuja, stressing that participation is strictly by invitation.
The commercial bid conference will determine the successful bidders for oil and gas assets located across Nigeria’s producing and frontier basins.
The 50 blocks comprise 16 onshore blocks and 18 shallow water blocks in the Niger Delta, one deep offshore block, three onshore blocks in the Benin Basin, four in the Anambra Basin, four in the Chad Basin, and four in the Benue Trough.
According to the commission, the winning bids will be determined through a transparent evaluation process based on clearly defined commercial parameters. These include the signature bonus offered by bidders, the proposed work programme commitment and the level of performance security provided. The final selection will be based on a weighted technical and commercial score.
The licensing round is being conducted under the provisions of the Petroleum Industry Act (PIA) 2021, which requires a transparent and competitive process for the award of petroleum assets.
NUPRC had announced the commencement of the 2025 Licensing Round on November 11, 2025, before opening the online bid portal on December 1, 2025, to enable interested companies to register and participate in the exercise.
To ensure prospective investors fully understood the requirements, the commission organised a pre-bid conference on January 14, 2026, at Eko Hotels and Suites, Lagos. The event provided detailed explanations on the licensing guidelines and bidding procedures to registered participants and other stakeholders.
Registration and submission of prequalification documents closed on February 27, 2026, while the prequalification evaluation was completed on March 16, 2026.
NUPRC disclosed that 286 companies initially submitted applications for prequalification.
Following the evaluation process, 196 companies were cleared to participate in the technical and commercial bid stages.
The prequalified 143 companies eventually submitted a total of 200 bids for the available oil and gas blocks. These companies are now set to compete at the commercial bid conference, where the financial offers will be opened and evaluated to determine the eventual winners.
The licensing round is expected to attract fresh investment into Nigeria’s upstream petroleum sector, boost exploration activities across both producing and frontier basins, increase crude oil and gas reserves, and support the country’s drive to grow production and government revenue.
It also underscores the regulator’s commitment to implementing a transparent, competitive and investor-friendly licensing regime under the Petroleum Industry Act.
By Adedapo Adesanya
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained all key monetary policy parameters following the conclusion of its two-day meeting on July 21, 2026, on Tuesday, maintaining its tight monetary policy stance to curb inflation and support macroeconomic stability.
According to the Governor of the apex bank, Mr Yemi Cardoso, who chaired the committee, the Monetary Policy Rate (MPR), which serves as the benchmark interest rate, remains at 26.50 per cent. The MPC also retained the asymmetric corridor around the MPR at +50 basis points and -450 basis points.
In addition, the Cash Reserve Ratio (CRR) for commercial banks was left unchanged at 45.00 per cent, while the CRR for merchant banks remains at 16.00 per cent. The committee also retained the CRR on non-Treasury Single Account (Non-TSA) public sector deposits at 75.00 per cent, with the liquidity ratio at 30.00 per cent.
The decision reflects the apex bank’s continued commitment to containing inflationary pressures through a restrictive monetary policy while safeguarding the resilience of Nigeria’s financial system amid ongoing macroeconomic adjustments.
By keeping all policy tools unchanged, the MPC signalled its intention to continue managing excess liquidity in the banking sector and maintain stability in financial markets.
The move is also expected to provide greater policy certainty for investors and businesses monitoring the country’s monetary policy direction.
The latest decision also means borrowing costs are likely to remain elevated in the near term as the central bank continues to prioritise price stability over monetary easing.
Analysts had expected the CBN committee to retain the rate after Nigeria’s headline inflation came in at 15.91 per cent as of June 2026, marking a slight decline from 15.93 per cent in May.
However, even as overall price growth has moderated significantly compared to previous periods, food inflation remains a persistent challenge, accelerating to 17.52 per cent in June.
By Aduragbemi Omiyale
Shareholders of Unilever Nigeria Plc will receive an interim dividend of N2 per share, the board of the organisation has said.
The cash reward was announced after the company released its financial statements for the first half of the year ended June 30, 2026.
The payment will be made on Friday, August 14, 2026, only to investors whose names appear on the Register of Members at the close of business on Friday, July 31, 2026.
A quick look at the financial performance of the firm in the first six months of this year showed that revenue improved by 22.22 per cent to N119.9 billion from the N98.1 billion achieved in the corresponding period of last year.
A rise in earnings also resulted in a 16.43 per cent surge in cost of sales, though this did not shrink the gross profit, which rose by 29.93 per cent to N54.7 billion from N42.1 billion. The operating profit stood at N24.4 billion in the period under review, higher than N18.8 billion in the same period of 2025, while the net finance income contracted by 9.43 per cent to N4.8 billion from N5.3 billion due to elevated borrowing costs.
Business Post reports that despite higher taxes paid in the first six months of 2026, the net profit grew by 8.33 per cent to N15.6 billion from N14.4 billion, enabling the board to pass on value to shareholders for their faith in the firm.
