PETALING JAYA: Despite another economic year embattled by the Covid-19 pandemic, Mulpha International Bhd
has actively restructured and expanded its operations in 2021 to ensure it is well placed to deliver further growth in 2022 and beyond.
The property and hospitality group completed two significant divestments in which it held strategic stakes – the Aveo Group Ltd in September 2019 for about A$125mil (RM378.73mil) and New Zealand’s Education Perfect Group Ltd in September 2021 for NZ$156mil (428.48mil) cash.
“The transactions have enabled the group to materially reduce debt and strengthen its balance sheet in a time of unprecedented uncertainty,” said chief executive officer Gregory David Shaw in the company’s 2021 annual report.
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