Metech International Limited (SG:V3M) has released an update.
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Metech International Limited has secured a second interest-free loan agreement for S$3.0 million with a General Manager employed by a subsidiary, aimed at funding business diversification and general corporate needs. The loan, which must be repaid within 12 months unless an event of default occurs, comes with conditions including the lender’s continuous employment with the company. Should repayment issues arise, negotiations may lead to an extension or conversion of the debt into company shares, subject to additional approvals.
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