PETALING JAYA: Malayan United Industries Bhd
(MUI) has accepted a new term-loan facility of US$20mil (RM84.3mil) from Indies Special Opportunities IV Ltd to finance costs and expenses incurred in connection with the capital expenditure of Plaza On Hyde Park Ltd.
In a filing with Bursa Malaysia, MUI said the term loan will allow the group to meet general corporate working capital requirements and to refinance certain existing Malaysian banking facilities.
“This allows the group to optimise its capital allocation, and ensure continued progress of the renovation and refurbishment of Corus Hyde Park Hotel, in London,” MUI said in its filing.
