KUALA LUMPUR (June 23): Mulpha International Bhd (KL:MULPHA) said its Australian unit has secured a A$73.8 million (RM203.83 million) cash advance facility from National Australia Bank Ltd to fund a property development project in Castle Hill, New South Wales.

Mulpha Marymount Pty Ltd accepted the facility both in its personal capacity and as trustee of the Mulpha Marymount Property Trust, said Mulpha International in its filing with Bursa Malaysia on Monday.

Mulpha Marymount is a wholly-owned subsidiary of Mulpha Australia Ltd, which is in turn wholly-owned by Mulpha International.

A significant portion of Mulpha International’s assets and investments are based in Australia, particularly across Queensland, New South Wales and Victoria.

According to the group’s website, its portfolio includes the ultra-luxury Hayman and InterContinental Hayman Island Resort, InterContinental Sydney, Sanctuary Cove and InterContinental Sanctuary Cove Resort, Bimbadgen Estate, Norwest Business Park and Norwest Quarter, as well as the Marritz Hotel and Salzburg Apartments in Perisher.

For the financial year ended Dec 31, 2024, the Australian market contributed 97.1% of the group’s total revenue of RM1.033 billion, with Malaysia and New Zealand contributing 1.45% each.

As at end-March 2025, Mulpha International’s total borrowings stood at RM2.37 billion, up from RM2.29 billion a year earlier, while its cash and cash equivalents amounted to RM122.8 million.

Shares of Mulpha International closed down one sen or 0.31% to RM3.19 on Monday, valuing the property developer at RM992.66 million.