Singapore: Maybank has extended a term loan facility of up to S$65 million (S$1=RM3.08) to ISE Foods Holdings (IFH) as the sole bank financier to partially finance the development of Singapore's fourth egg farm. IFH, a subsidiary of SGX-listed Ellipsiz Ltd, is spearheading this project as part of an initiative to enhance Singapore's local food production capabilities.

According to BERNAMA News Agency, the large-scale farm will be located on a site identified in collaboration with the Singapore Food Agency and relevant government bodies. The project is a strategic move to increase local egg production, aligning with Singapore's goal to produce 30 percent of the nation's protein needs by 2035. This effort aims to bolster food security and reduce reliance on imported goods.

Maybank and Ellipsiz highlighted in a joint statement that the SG4EF project will incorporate advanced agritech and smart warehousing solutions. It qualifies as an eligible social loan under Maybank's food security and sustainable food systems category. Alvin Lee, Maybank Singapore's country chief executive officer, emphasized the bank's commitment to national priorities and its alignment with sustainability goals. He stated that the partnership with Ellipsiz is crucial for building a future-ready food ecosystem in Singapore.