Maybank has extended a term loan facility of up to S$65 million (RM200.42 million) to ISE Foods Holdings (IFH) as the sole financier to partly fund the development of Singapore’s fourth egg farm (SG4EF).
IFH is a subsidiary of SGX-listed Ellipsiz Ltd, and the project represents a key milestone for both the company and Singapore’s local food production efforts. The large-scale farm will be built on a site identified in collaboration with the Singapore Food Agency (SFA) and other government agencies.
Maybank and Ellipsiz said the project is expected to boost local egg production and support Singapore’s target of meeting 30% of its protein needs by 2035, enhancing food security and reducing reliance on imports.
Maybank Singapore country CEO Alvin Lee said the financing aligns with the bank’s focus on the new economy and sustainability. He added that the SG4EF project will incorporate advanced agritech and smart warehousing solutions, and qualifies as a social loan under Maybank’s food security and sustainable food systems category.
