Casa Del Rio (M) Sdn Bhd Secured RM50 Million Fund From Bank Pembangunan

Bank Pembangunan Malaysia Berhad has recently signed a loan agreement of a RM50 million term loan facility with Casa Del Rio (M) Sdn Bhd in Kuala Lumpur.The term loan facility under the "Tourism Infrastructure Fund" is for the purpose of financing the construction of a 4-storey 64-room boutique hotel known as Casa Del Rio( Spanish) or "Home by the river" located in the heart of Melaka town.Casa del Rio (M) Sdn Bhd has teamed up with Bank Pembagunan to build the boutique resort project in Melaka at development value of RM102 million scheduled for completion end 2010.Bank Pembangunan who provided the "Tourism Infrastructure Fund" under the supervision of Ministry of Finance & Tourism has uptodate approved a total of RM165 million loan facilities for the development of tourism sector in Melaka inclusive of the RM50 million term loan facilities to Casa del Rio Sdn Bhd.
The event also witnessed a signing of second agreement between Sing Seong Hing Sdn Bhd (Developer) and Casa Del Rio (M) Sdn Bhd.Chief Minister of Melaka,Yang Amat Berhormat Datuk Seri Hj Mohd Ali Mohd Rustam who was accompanied by Melaka State Secretary,Yang Berhormat Datuk Wira Omar Kaseh witnessed the signing ceremony between Yang Amat Dihormati Tan Sri Syed Yusof Tun Syed Nasir,Group Managing Director of Casa del Rio (M) Sdn Bhd and Yang Berbahagia Dato' Tajuddin Atan President/Chief Executive Officer of Bank Pembangunan Malaysia Bhd together Mr Ong Hock Lai,Managing Director of Sin Seong Hin Sdn Bhd(Contractor).