Malita Investments plc, the beleaguered government financial vehicle used to fund various social accommodation projects, has ousted a company that won a €4.3 million tender for a delayed project in Bormla and replaced it with a new company formed by Gozitan construction magnates Joseph Portelli and Mark Agius, known as Ta’ Dirjanu. Investigations by
Former Labour MEP Marlene Mizzi put the blame squarely on Minister Roderick Galdes for the financial disaster at Malita Investments plc, a public-listed company that is responsible for developing social housing units. But Mizzi accused Galdes of far worse than rank incompetence. She accused him of “interference in the workings of a plc” and “hobnobbing
Malta’s state-backed Malita Investments has yet to explain why a €22 million European Investment Bank (EIB) loan, agreed in March last year, remains undisbursed, even as the company announced this week that it was to seek further credit from local lenders. In a statement on Thursday, Malita admitted that three of its projects were on hold while it
The crisis at Malita Investments continues to deepen, the Nationalist Party said in a statement. The PN reiterated its "serious concern" regarding the escalating crisis at Malita Investments plc, a company in which the Government holds a majority shareholding. "Regrettably, this entity has increasingly become a symbol of financial failure and political
Malita Investments has been unable to find an alternative means of financing three stalled social housing projects and is now talking to its banks to get further loans. In a company announcement issued late on Thursday, Malita Investments said a strategic review of financing options had yielded various options that had, however, "not found acceptance
Malita Investments plc, the state-backed vehicle responsible for financing social housing projects, has entered talks with lenders after running out of capital to complete three major developments, highlighting growing governance tensions around the publicly listed company. In a late-evening announcement aimed at limiting market fallout, Malita said
Malita pls announced Friday that its secretary Albert Cilia has resigned in what is yet another development for a company that has already seen the departure of its chairman. In a company statement, Malita announced that Cilia resigned from his position with immediate effect, and has been replaced by Desiree Cassar. No reason for the resignation was