THE NOMAD GROUP BHD (formerly known as Kuala Lumpur City Corporation Berhad or KLCCB) is poised to be engaged in a service-based industry with the acquisition of Sucasa Sdn Bhd and Suria Condominium, a high-end residential development in Bangsar for RM34.5 million.

Nomad Space Sdn Bhd (NSSB) was incorporated as the owner, manager and operator of the Group’s serviced office business: The NOMAD Offices. The new business model will focus on providing convenience to customers via a variety of hospitality and other support services.

Being the first public-listed Malaysian company to embark in the seamless hospitality and service industry of work, live and play – both in the serviced residence and serviced office segments, the Group is setting the definitive direction to be in forefront of providing and creating value to increasingly savvy customers.

Currently, NSSB operates the Group’s maiden serviced office, The NOMAD Offices, Jalan P Ramlee in the heart of Kuala Lumpur’s Central Business District area which commencedoperations in December 2007. In addition, the acquisition of Central Offices Pte Ltd (COPL), which operates a serviced office in Singapore’s CBD at Raffles Place, in October 2007 has expanded the Group’s serviced office network into Singapore. The Group intends to further expand the network into other major cities in the ASEAN region such as Bangkok, Manila, Jakarta and Ho Chi Minh City.

As part of the Group’s process to clearly define its strategic focus, the Group has undergone a restructuring exercise to reorganise its business activities into two main segments, namely serviced apartments / hotels and serviced offices. These would be the dual thrusts of the Group to achieve efficient, effective and sustainable foundation of growth as it embarks on a journey to become a regional corporate player. Moving forward, the Board of Directors of KLCCB is proposing to the shareholders to change its name to The NOMAD Group Bhd (The NOMAD).