Sale should put firm on road to recovery

* username: rupertbu

Investing in a hotel at the height of the market and selling it near the bottom is not a move any investor would relish.

But in effect, this is what the Abdullah brothers, the founders and senior executives of the troubled retailer Damas International, have been forced to do.

On the plus side, by selling the Angsana Hotel and Suites, Damas shareholders will get back some of the money raised from the company’s initial public offering (IPO) in 2008 that was funnelled into this project.