Astaka Holdings Ltd. (SG:42S) has released an update.
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Astaka Holdings Ltd. has announced that its subsidiary, Astaka Padu Sdn. Bhd., and its joint venture partner, Seaview Holdings Sdn. Bhd., have agreed to provide a RM60 million interest-free loan to their joint venture, Astaka Capital Sdn. Bhd., for property development in Malaysia. The loan will be allocated according to their respective 51% and 49% shareholding interests. This move follows a previous joint venture agreement stipulating financial support in the absence of external borrowings.
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