Alset International (SGX:40V) agreed to invest around $2.5 million in US-listed DSS which will be convertible into shares of the latter's common stock and warrants, according to a Friday filing with the Singapore Exchange.

The convertible promissory bonds will bear an interest rate of 3% per year, payable in arrears on maturity, in cash or DSS common stock. The warrants are exercisable immediately at $0.93 per share.

The company's chief executive officer, Chan Heng Fai, controls 60.22% of DSS.

The proposed investment allows the company to participate in DSS' future development through an interest-bearing convertible promissory note and warrants exercise.