Autagco (SGX:1D3), formerly LifeBrandz Ltd, has entered a third loan agreement with its controlling shareholder, Aurico Global Holdings, for a facility of up to SG$1.0 million to support business expansion and working capital needs, according to a Monday filing on the Singapore Exchange.
The agreement allows drawdowns in tranches of up to SG$250,000 each, with a 2.8% annual interest rate over a 24-month term. The loan follows amendments to a prior agreement with the lender, reducing the interest rate to 2.8% from 5%.
Aurico Global owns 27.92% of Autagco's issued share capital. Executive Chairman Ng Boon Hui, also a director of Aurico Global, holds a 70% stake in the lender.
The company rationalized the financing by citing a net current liability position of SG$1.7 million as of July 31, 2024.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。