Big heart: MABA president Datuk Seri Lee Tian Hock and Housing and Local Government Minister Nga Kor Ming posing with memorabilia during the annual dinner.
PETALING JAYA: The Malaysian Basketball Association (MABA) are stepping into a new era of financial independence thanks to a boost from their corporate partnership with Exsim Group.
MABA president Datuk Seri Lee Tian Hock announced that their partner, who are redeveloping the Wisma Maba building on Jalan Hang Jebat into serviced apartments, have advanced RM50million in cash payments to the association.
Tian Hock added that the annual advance from the company has also been increased from RM4million to RM6million.
"The collaboration between MABA and the Exsim Group is not only a unique opportunity, but also a sincere contribution by the group to the development of national sports after achieving strong corporate growth," said Tian Hock during MABA’s annual dinner on Saturday.
MABA president Datuk Seri Lee Tian Hock
"This marks a historic milestone. From this year onward, MABA step into a new era of financial independence."
In December, Exsim broke ground on the RM800mil project at Wisma Maba, where it will be redeveloped into MABA Suitez, a 60-storey twin-tower serviced apartment complex comprising 1,000 apartments.
The project is expected to generate at least RM170mil for MABA, with the association planning to reinvest RM120mil into units in the new project.
MABA expect to secure a five per cent return on the investment, which would bring in about RM6mil for their yearly budget.
The project is expected to be completed in 2031.
Meanwhile, Tian Hock added that the association had given greenlight for RM7.3mil to be used for basketball activities for 2026, and an additional RM1.9mil for MABA’s operational costs.
"MABA have a stable source of income and allows us to be financially self-sustainable," he said.
