Chua Ma Yu, a Malaysian billionaire who made his fortune in the stock market, had big ambitions in 2008, when his CMY Capital Sdn. agreed with partners to build the 48-story St. Regis Kuala Lumpur.
The country’s first six-star hotel would feature 208 rooms and 160 apartments with housekeepers, butler service and a chef-in-residence. Two years later, the tycoon was still struggling with paperwork to start construction, Bloomberg Markets magazine will report in its September issue.
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