MB World accepts RM97.9m loan facilities for JB housing project


In a filing with Bursa Malaysia, Country View said that the acquisition

KUALA LUMPUR: MB World Group Bhd's unit has accepted RM97.90mil in loan facilities from RHB Bank Bhd to undertake serviced apartment projects in Johor Bahru.

It announced on Monday the serviced apartments were at Jalan Abdul Rahman Andak-Jalan Lingkaran Dalam in Johor Bahru with estimated GDV and gross development cost of RM542.35mil and RM396.83mil respectively which consists of Phase 1 (644 units) and Phase 2 (654 units).

MB World said the term loan of RM34.20mil was to part finance/reimburse the purchase of 7.586 acres  located along Jalan Abdul Rahman Andak.

There was also a revolving credit of RM7mil to part finance and/or reimburse the infrastructure costs
of developing the project.

The facilities also included a revolving credit of RM50.70mil to part finance/reimburse the construction costs of developing the project under phase one.

There was also a bank guarantee of RM6mil as a performance guarantee for the project.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

MB World , loan facilities , RHB Bank Bhd

   

Next In Business News

EPF launches three-tier savings framework for different retirement lifestyles
Ringgit opens higher despite stronger greenback
TMK Chemical debuts at 12.6% premium on Main Market
FBM KLCI continues to trend lower after US CPI print
Trading ideas: Axiata, Privasia, MyEG, Petron, AE Multi, Solid Automotive, Camaroe, Astro, EWI
Oil rises US$1 as EU agrees further Russia sanctions
Benchmark S&P 500 jumps, Nasdaq rallies above 20,000
Malaysia approves RM255bil of investments in 9M24
Healthy domestic growth to offset US trade tariffs
Egg subsidy rationalisation to impact QL Resources

Others Also Read