Matrix Concepts gets RM512mil financing

Deal sealed: Sulaiman (third from left) and Haslah (third from right) witnessing the changing of documents between AmBank Group managing director, business banking, Christopher Yap (second from left) with Lee. With them are AmBank head, commercial banking region, Chua Bang Lee (left) and Matrix Concepts managing director Ho Kong Soon.

KUALA LUMPUR: Matrix Concepts Holdings Bhd has secured over half-a-billion ringgit in financing from AMMB Holdings Bhd (AmBank) to facilitate the development of its land bank in Malaysia Vision Valley 2.0, located between Selangor and Negri Sembilan.

Matrix Concepts founder and group executive deputy chairman Datuk Seri Lee Tian Hock said RM512mil had been secured and will be allocated for about 80% of the acquisition cost of the land, which is valued at RM460mil.