Golden Destinations Group Berhad (“Golden Destinations” or the “Company”), a full-service outbound travel experience curator, today took a strategic step in expanding its regional footprint with a proposed investment through a share sale and purchase agreement to secure a 70% controlling equity interest in Double Happiness Holidays Limited (“Double Happiness”), a licensed travel agency in Hong Kong. The investment marks the Group’s entry into Hong Kong’s outbound travel market, creating new opportunities to extend its established business-to-business (“B2B”) travel model and reach a broader regional customer base.
(From Left) Mr. Yung Sing Wah, Intended 20% Shareholder and Executive Director, Double Happiness Holidays Limited; Madam Chong Ching Lee, Vendor and Shareholder, Double Happiness Holidays Limited; Mr. Mita Lim, Managing Director, Golden Destinations Group Berhad; and Mr. Lim Swee Chuan, Executive Director / Chief Corporate Officer, Golden Destinations Group Berhad.
Incorporated on 27 January 2026, Double Happiness holds a travel agent licence issued by the Travel Industry Authority of Hong Kong (“TIA”), providing Golden Destinations with a licensed platform to establish its presence in the market. The TIA’s approval of the proposed change in ownership and control on 28 September 2026 marks a key regulatory milestone towards the Group’s planned commencement of operations. Upon completion of the investment, Double Happiness is proposed to be renamed Golden Destinations (HK) Limited, reflecting the Group’s expansion into the Hong Kong market.
Building on its established B2B distribution model, Golden Destinations intends to collaborate with local travel agents in Hong Kong, offering access to its extensive portfolio of more than 2,000 travel experience packages spanning over 84 countries. Supported by long-standing relationships with airlines, cruise operators and overseas ground service providers, the Group aims to tap into Hong Kong’s outbound travel demand, with additional potential to serve travellers from China seeking outbound travel services through Hong Kong.
The Group’s total proposed investment of HKD700,000 (approximately RM364,600, based on an exchange rate of RM1.00 to HKD1.92) entails the acquisition of 200,000 existing shares from Madam Chong Ching Lee for HKD200,000 and the subscription of 500,000 new shares in Double Happiness for HKD500,000. The subscription will inject fresh capital to support the Hong Kong business’s development and growth. Upon completion of the acquisition, Golden Destinations will hold a 70% controlling equity interest, while Mr. Yung Sing Wah (“Mr. Yung”) and Madam Chong will retain 20% and 10% respectively.
A key driver of the Hong Kong expansion will be Mr. Yung, who brings over 18 years of travel industry experience, including various senior management roles. Upon completion of the acquisition, Mr. Yung will be appointed to the board of Double Happiness as Executive Director and will spearhead its Hong Kong operations and business development, leveraging his local market knowledge and industry expertise alongside Golden Destinations’ established travel offerings and distribution capabilities. Mr. Mita Lim will also be appointed to the board of Double Happiness as Chairman, with Mr. Charles Lim Yong Zhao serving as alternate director to Mr. Mita Lim.
Mr. Mita Lim, Managing Director of Golden Destinations Group Berhad, said, “Hong Kong represents an exciting next step in our regional growth journey. Its established outbound travel market presents significant opportunities for us to bring our extensive travel portfolio, established B2B model and strong supplier network to a wider market. Building on our experience in Malaysia, we see meaningful potential to strengthen our regional reach and create value for travel agent partners in Hong Kong.”
He added, “Our Hong Kong expansion brings together Mr. Yung’s extensive industry experience and local market expertise with the strengths we have built over nearly three decades. By combining these capabilities, we aim to establish a sustainable business with long-term growth potential. Following our entry into Singapore, Hong Kong represents another important step in building our regional presence as we continue to pursue disciplined expansion and create lasting value for our shareholders.”
The investment forms part of Golden Destinations’ post-listing growth strategy to broaden its geographical footprint and strengthen its regional presence. Backed by nearly three decades of industry experience and an established nationwide travel agent network in Malaysia, the Group continues to pursue opportunities to expand into new markets, supported by ongoing investments in brand development, technology and workforce capabilities.
