ACSB and KIASB, JVCo Shareholders of Astaka's (SGX:42S) 51% owned indirect subsidiary, Astaka Kimlun (AKSB), entered into a shareholders' loan agreement, according to a filing with the Singapore Exchange on Wednesday.
Under the agreement, the shareholders have agreed to grant an interest bearing unsecured loan in the principle amount of up to 170 million Malaysian Ringgit to AKSB.
The shareholders loan agreement will also govern an additional loan facility of up to 157.7 million ringgit to finance the consideration of a property purchase and AKSB's working capital needs.
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