Luminor Financial (SGX:5UA) extended a loan agreement with controlling shareholder Kwan Chee Seng for another 12 months, with the principal amount reduced to SG$500,000, according to a Monday filing with the Singapore Exchange.
Shares of the financial services company were down over 2% in Tuesday trading.
Earlier, Seng had agreed to extend the company a loan of SG$8 million.
Under the new terms, the loan will carry an annual interest rate of 6.5%, payable on a quarterly basis.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments