The facility agreement being signed in the present of YB Dato' Seri S. Samy Vellu.

Tan Sri M. Mahalingam, the chairman of MIED Capital exchanging the facility agreement with Dato' HJ. Abdul Rahim Mohd Zin.

MIED Capital Sdn. Bhd. (wholly owned subsidiary of MIED) signed a Facility Agreement for RM220m with Bank Pembangunan and Infrastructure Malaysia Bhd. on 14th July 2004. Tan Sri M. Mahalingam, the Chairman of MIED Capital Sdn. Bhd. and Dato Hj. Abdul Rahim Mohd Zin, Managing Director of Bank Pembangunan and Infrastructure Malaysia signed the loan documents in the presence pf MIED Chairman Dato' Seri S. Samy Vellu.

RM 160m of the facility would be utilized for the construction of facilities and the balance of RM60m would be used for purchased of equipment. The loan has a validy period of 24 months and the repayment of loan starts from the 48th month of the first draw down. This approval of loan facility is considered to be timely on for MIED as MIED started construction works for the University with the funds it managed to mobilize through donations and government grants.

While the main campus is under construction. AIMST has been functioning in a temporary campun in Aman Jaya, Kedah for the past 4 years. With this loan in hand MIOED is confident that will be able to start operating in the Semeling campus by May 2005.