KUALA LUMPUR, Malayan United Industries Bhd, or MUI, has obtained a US$20 million (RM84.3 million) term loan from Singapore-based direct lending fund Indies Special Opportunities LV Ltd to support its financing needs.
According to MUI’s filing, the loan will be used to partially fund capital expenditure for its wholly owned subsidiary Plaza on Hyde Park Ltd, as well as to cover general working capital requirements and refinance certain existing Malaysian bank facilities.
The group said the new facility will help optimise capital allocation and ensure continued progress in the renovation and refurbishment of the Corus Hyde Park Hotel. It will also strengthen liquidity, providing greater financial flexibility and operational efficiency.
Following the new borrowing, MUI expects additional finance costs of about US$2.6 million (RM11.1 million) for the financial year ending June 30, 2026 (FY2026), which would result in an extra loss per share of 0.34 sen.
The group’s gearing ratio is projected to rise to 0.97 times in FY2026 from 0.87 times previously, while net assets per share are expected to remain unchanged at 25 sen.
As of end-June 2025, MUI’s cash and cash equivalents stood at RM143.03 million, with total borrowings of RM905.72 million and lease liabilities of RM98.52 million.
Indies Special Opportunities IV, managed by Indies Capital Partners Pte Ltd, focuses on private credit and private equity investments across Asia, serving clients including sovereign wealth funds, regional financial institutions, family offices, and high-net-worth investors. MUI’s shares closed half a sen lower at six sen, valuing the company at RM194 million.
