Ideal Capital in RM700mil funding for PTP project

From left: OCBC Bank managing director and head of commercial banking Kevin Choo Cham Woon, OCBC Bank managing director and head of corporate and commercial banking Jeffrey Teoh, Ideal Property Group executive chairman Tan Sri Alex Ooi Kee Liang, Ideal Property chief operating officers Datuk Goh Teng Whoo and Connie Ang.

PETALING JAYA: Ideal Capital Bhd, better known as Ideal Property Group, has secured a RM700mil financing facility from OCBC Bank (M) Bhd for its landmark Penang Technology Park (PTP)@Bertam project in Penang.

The financing will partially finance the acquisition of land, construction and infrastructure costs for the project, while OCBC Bank also announced it will be offering an end-financing package to qualified end-purchasers of the industrial park.