An honorable member of the Coffee Shop Has Just Posted the Following:
* City Harvest through its company UPIL sets up a facility to borrow up to S$45million from Glory Capital, a company 65% indirectly owned by listed company Freight Links Express and 35% owned by a Mr Henry Wee
*UPIL owns 49% of an entity named HPIL that owns 80% of Suntec Convention Centre
*The loan has a duration of 6 years and is at 8% interest
* The loan is secured by a mortgage of UPIL's shares in HPIL
* UPIL is to pay S$13million to Glory Capital as a front-end fee
* Glory Capital has Right of First Refusal (ROFR) to 11.5% of UPIL's shares in HPIL.
http://infopub.sgx.com/FileOpen/Anno...&FileID=252445
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22-08-2013, 06:40 PM
Kong Hee going to borrow S$45 million.
