KUALA LUMPUR (May 13): Mulpha International Bhd (KL:MULPHA) on Monday said its indirect wholly-owned Australian subsidiary Mulpha Norwest Pty Ltd had accepted a cash advance facility of A$100 million (equivalent to approximately RM313.07 million) from National Australia Bank Ltd to refinance borrowings and for working capital.
The cash advance comprises a revolving facility of A$90 million and a bank guarantee facility of A$10 million, according to Mulpha International's filing on Bursa Malaysia.
Mulpha Norwest's principal activity is property development.
Mulpha International’s net profit for the financial year ended Dec 31, 2023 (FY2023) rose 29% to RM109.54 million from RM84.88 million in the previous year, as revenue went up 23.7% to RM1.2 billion from RM970.92 million previously.
Its shares closed up two sen or 0.84% at RM2.41 on Monday, with a market capitalisation of RM749.94 million.