Malita Investments announces resignation of company secretary

Malita Investments has announced the resignation of its Company Secretary Albert Cilia.

Cilia will be replaced by Desiree Cassar as of 5 December, the company said in a statement on Friday morning.

“The Board of Directors of the Company extends its gratitude to Mr Cilia for his service to the Company. Dr Desiree Cassar has been appointed secretary of the Company and has assumed the responsibilities previously carried out by Mr Cilia,” a statement by the company read.

Cilia’s resignation follows that of former executive chair Johan Farrugia, who was replaced by former tax commissioner Marvin Gaerty.

Malita is a publicly listed company that manages major government property projects and falls under the remit of Housing Minister Roderick Galdes.

Earlier this month, Malita admitted that it is facing "certain liquidity constraints," after it came under fire over the suspension of works at a social housing site in Ħal Farruġ.

"The Board has commenced discussions with key stakeholders, including the Housing Authority and relevant government entities, regarding the future direction of the Affordable Housing Project. These discussions are ongoing and no decisions have been finalised," the company had stated.

In response to coverage surrounding Malita, former Labour MEP Marlene Mizzi publicly stated that her removal as Malita’s chairperson in 2024 came shortly after an argument with Galdes.

Mizzi said that she was removed from her position a few weeks after a meeting at Galdes’s office during which she challenged what she described as his “interference in the workings of a plc” and his close contact with contractors engaged by the company.

Government owns 82% of Malita Investments, and the company has recently been the subject of criticism after a number of contractors pursued legal action to make Malita pay its dues.

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