Luminor Financial Secures Shareholder Loan Extension for Another Year

MT Newswires

07/07

Luminor Financial (SGX:5UA) extended a loan agreement with controlling shareholder Kwan Chee Seng for another 12 months, with the principal amount reduced to SG$500,000, according to a Monday filing with the Singapore Exchange.

Shares of the financial services company were down over 2% in Tuesday trading.

Earlier, Seng had agreed to extend the company a loan of SG$8 million.

Under the new terms, the loan will carry an annual interest rate of 6.5%, payable on a quarterly basis.

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