Malita hints at 'restructuring' of Luqa housing project as bank financing nears

Company says it has struck deal with contractors to resume stalled works

Malita Investments is "restructuring" its flagship housing project in Luqa as it inches closer to getting a new bank loan to resume the stalled construction. 

The state-controlled, publicly listed company told shareholders it has "secured an indicative term sheet for financing" for its housing project, which stalled earlier this year when Malita ran out of cash.

"As part of this process the company is also embarking on a restructuring plan to ensure the financial sustainability of the said project," it added. 

Read the full story at thebusinesspicture.com

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