MMP Resources inks brand strategy deal with Alliance Brands

The agreement involves a loan facility for ABL.

Construction business MMP Resources Limited entered into a pact with Alliance Brands Limited (ABL) to execute its strategy and brand growth on travel, hospitality, and leisure industry.

MMP Resources said ABL’s business focuses on brand conceptualisation and brand activation specifically of ideas related to global trends within the food and beverage, hospitality, leisure, and apparel sectors.

MMP Resources and ABL concluded a streamlined funding agreement for the global rollout of ABL’s most successful brands. As part of the plan, ABL intends to incorporate a subsidiary for the operations of each specific site.

“To work with ABL on this initiative, the company has agreed, subject to the terms and conditions of the agreement, to make available to each borrower a convertible loan facility not exceeding S$100,000/- with a cap of S$500,000/- to all borrowers. Interest will be paid to the company at a 28% annual basis. The loans under this facility will be disbursed to each borrower and not ABL,” MMP Resources said.

At the conclusion of each 5 years loan period the company can give six months prior notice and convert the principal of the loan and any outstanding interest to equity in the Borrower at an agreed formula, MMP Resources added.

Under the terms of the agreement, ABL will design, build or refurbish and operate all the operations in accordance with the budget and operating plans approved by the company.