Issue link: https://maltatoday.uberflip.com/i/1515592
8.2.2024 3 NEWS 8.2.2024 THE Malta Business Bureau (MBB) has unveiled its revitalised brand identity is represents a significant milestone for the organisation, marking exactly 13 years since its last rebranding exercise. MBB's fresh identity reaffirms its com- mitment to be always vigilant of the ever-changing trends and exigencies of the business community. Addressing the launch event, MBB President Alison Mizzi expressed her enthusiasm for the organisation's trans- formation. "MBB has played a pivotal role in the Maltese business landscape by relaying EU policy developments and advocat- ing for the Maltese business interest with EU and national policymakers," she said. "Today's rebranding represents our commitment to continued growth, ad- aptability, and unwavering support to the local business community to bring it closer to the European Union." Chris Vassallo Cesareo and Tony Zah- ra, Presidents of MBB parent organisa- tions e Malta Chamber and the Malta Hotels & Restaurants Association, also addressed the event to share their views on the MBB's rebranding. Vassallo Cesareo stated that this re- branding is not merely cosmetic, but embodies a blend of approachability and professionalism. He added that it embraces a youthful and adaptable spir- it that is welcoming for businesses and will contribute to further success. On his part, Zahra explained how the MHRA finds great support in the work offered by the MBB through its knowl- edge of EU Affairs and the potential im- plications for businesses. He stressed MBB's key role in a very complex legislative process, to put for- ward the Maltese business position in Brussels to relevant EU officials and leg- islators, and to intervene where specific proposals may have a negative impact. is event is considered timely given the major changes taking place within the EU this year, as the current legis- lature is coming to an end and the Eu- ropean Parliament elections are taking place in June. is will be followed by a new College of Commissioners after summer, which will kick-start the 2024- 2029 term. Deputy Prime Minister Chris Fearne emphasized that in the coming months, in the run-up to the European Parlia- ment elections, everyone should unite to promote and defend the principles of democracy that contribute to peace and prosperity. "We must ensure that the new Mem- bers of the European Parliament up- hold democratic values to continue fostering well-being in our country and throughout the European Union," he said. In his closing remarks, MBB CEO Joe Tanti outlined the strategic vision be- hind the new image. "We are extremely proud with our new brand identity, which reflects our vision, values and mission as leaders in EU-business advocacy for the Maltese business community," he said. "is Rebranding reaffirms the MBB's role as Malta's Business Gateway to the EU." Malta Business Bureau reaffirms it's role as Malta's business gateway to the EU Malita Investments wants new issue of up to 65,825,806 ordinary shares MBB's fresh new identity was launched at an event addressed by (from left) MBB President Alison Mizzi, CEO Joe Tanti and Deputy Prime Minister Chris Fearne (via video) FROM PAGE 1 The paid up issued share capi- tal of the company currently stands at 148,108,064 ordinary shares of a nominal value of €0.50 each. Malita Investments is presently seeking debt finance to fund the gov- ernment's Affordable Housing pro- ject. Once these affordable housing apartments are completed they will be leased out at commercial rates to persons in possession of a certificate from the Housing Authority with the subsidy available to these persons be- ing directly payable to the company. The company was registered by the Government of Malta to operate on an independent and commercial ba- sis, in an initiative aimed at contrib- uting towards long-term investment development in our country in a part- nership between the public and pri- vate sectors. Its stated mission is to acquire, de- velop and manage immovable proper- ty, the leveraging of revenue streams arising therefrom and the reinvest- ment of undistributed profits in na- tional and/or strategic real estate projects as well as in commercial property opportunities. The company's investment portfolio started off with the reinvestment of the equity embedded in the domin- ium directum of the Malta Interna- tional Airport and the Valletta Cruise Port, which - in combination with the shares subscribed for in cash by the shareholders and further augment- ed by debt finance - was utilised to acquire the Parliament building and open-air theatre in Valletta. Following completion, these proper- ties have been leased out at a rental yield commensurate with that gener- ated in the commercial property mar- ket in Malta. The company's business profile is such that the existing revenue streams are highly visible and quanti- fiable, given that they arise from long term contractual agreements. These contracts also provide for the peri- odic revision of the ground rent and rental income arising. Furthermore, the risk of the debtors defaulting on the amounts receivable by the company is mitigated by the quality of tenants, the relativity of the amounts receivable compared to the market value of the properties includ- ing the improvements undertaken thereon by the occupiers, as well as the inherent security enjoyed by the company at law as the dominus of the property sites. The company's cash outflows also carry a high degree of visibility. These comprise the cost of collection of the revenue streams and corporate ad- ministration costs and taxation. The resulting cash surplus is applied pri- marily in the servicing of borrowing and a high proportion of the balance is intended to be distributed in divi- dends to shareholders, such that the latter would receive a consistent re- turn on the nominal value of their or- dinary shares. The residual cash flows after these appropriations are set aside for fur- ther re-investment, as the same is determined from time to time by the investment committee set up by the board of directors. The company's cash outflows also carry a high degree of visibility. These comprise the cost of collection of the revenue streams and corporate administration costs and taxation.