Malita Investments plc has announced the appointment of two new non-executive directors, Victor Carachi and Tania Brown, both of whom bring a wealth of experience to the table.
Malita Investments’ principal activities include the financing, acquisition, development, management and operation of immovable property, in particular, projects of national and/or strategic importance.
Mr Carachi is best known as president of the General Workers’ Union (GWU), a role he has occupied since 2008, following a long career in the banking sector that began with Mid-Med Bank in 1978.
In 2005, he was appointed senior manager of the audit, compliance and operational risk department within Mid-Med successor HSBC Malta.
His union involvement started in 1995 when he was elected to represent his colleagues as shop steward and GWU delegate.
Meanwhile, Ms Brown’s experience in the private sector with Datastream, GO and Forestals is complemented by her extensive public sector experience, where she led the Ministry for Finance’s secretariat between 2013 and 2017.
During that time, the Ministry for Finance was involved in securing funding for the Government’s Affordable Housing project, developed by Malita Investments.
She has also served as an advisor to the Ministry for Tourism and a director of national airline Air Malta.
Since 2020, she has been engaged in senior roles at Identity Malta.
The Government holds a majority shareholding of 79.75 per cent in Malita Investments plc, which operates on an independent and commercial basis to contribute towards long-term investment development in Malta.
The publicly traded company owns the sites of Malta International Airport and Valletta Cruise Port, and holds a temporary emphyteusis over the Parliament Building and Pjazza Teatru Rjal.
Malita is also currently involved in a major housing project, developing around 700 apartments and almost 300 garages for the Government’s affordable housing stock.
In its latest financial statements, the company said that this project is nearing completion.
Earlier this year, former Chief Financial Officer Jennifer Tabone was appointed CEO of the company, while former MEP Marlene Mizzi was appointed director.
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