AN AUSSIE unit of Mulpha International Bhd (MIB) has secured a green syndicated construction facility worth A$160 million (RM478 million) to finance the construction of stage one of a mixed-use residential apartment development located in Norwest in New South Wales, Australia.
Mulpha Norwest Quarter Development Pte Ltd, an indirect wholly-owned subsidiary of MIB, secured the loan provided jointly by Australia & New Zealand Banking Group Ltd and Clean Energy Finance Corp.
The facility represents a major step forward for the company and highlights its commitment to environmentally sustainable practices in its property development projects, MIB said in an exchange filing yesterday.
Mulpha Norwest Quarter is a property development company incorporated in Australia, with a paid-up share capital of A$10, comprising 10 ordinary shares. It is a wholly-owned subsidiary of Mulpha Development Holdings Pte Ltd, which in turn is wholly owned by Mulpha Australia Ltd (MAL).
MAL is a publicly traded investment holding company incorporated in Australia, with a paid-up share capital of A$297.7 million (RM884.17 million), comprising 77,240,344 ordinary shares and 27,726,000 preference shares. MAL is wholly owned by MIB.
MIB’s shares were trading unchanged at RM2.45 at 11.35am today. — TMR / graphic by TMR