S$200 million Islamic term facility to a wholly-owned subsidiary of IOI Properties Group Berhad
Allen & Gledhill, as transaction counsel, together with its associate firm in Malaysia, Rahmat Lim & Partners, advised Malayan Banking Berhad, Singapore Branch (“Maybank”) on the S$200 million Islamic term facility (“Facility”) made available by Maybank to Multi Wealth (Singapore) Pte. Ltd. (“Borrower”) based on the Shariah concept of Murabahah (via a Tawarruq arrangement). The Borrower is a wholly-owned subsidiary of IOI Properties Group Berhad, and the Facility is to finance, among other things, its equity investments in connection with a real estate development in Singapore.
Advising Maybank was Allen & Gledhill Partner Aloysius Ng.
Advising Maybank as to Malaysian law was Partner Kelvin Loh of Rahmat Lim & Partners.
