Tiong Seng Secures Loan Facilities of up to SG$90.0 Million; Shares Up 6%

MT Newswires

02-06

Tiong Seng (SGX:BFI) entered into a facility agreement with Oversea-Chinese Banking (SGX:O39) and United Overseas Bank (SGX:U11) for loan facilities of up to SG$90 million, according to a filing with the Singapore Exchange on Thursday.

The facilities comprise revolving loan facilities and a short-term loan facility.

The facilities will be utilized to finance the working capital of existing and new projects.

Shares of the company were up nearly 6% in recent trading.

Price (SGD): S$0.09, Change: S$+0.0050, Percent Change: +5.68%

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