LifeBrandz (SGX:1D3) entered into a loan arrangement with controlling shareholder, Aurico Global, for a principal amount of up to SG$750,000, according to a filing with the Singapore Exchange on Friday.
The interest rate on the loan is 5% per annum and will have a two-year term.
The company had earlier agreed a facility of SG$250,000, which was fully withdrawn.
The new facility will help the company expand its business plans, which include diversification and working capital needs.
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