Leader Environmental Technologies unit Jilin Anjie Environmental Engineering has successfully renewed its loan facilities from China Merchants Bank for a loan amount of up to RMB80 million ($17.4 million) for another one-year tenure commencing from Nov 9 under substantially the same terms and conditions.
The purpose of the loan is to fund the working capital requirements of Anjie.
The company has given a corporate guarantee in favour of the bank to guarantee Anjie’s obligation under the loan.
In addition, Lin Baiyin, the executive chairman and chief executive officer of the company and his spouse, Zhan Lanxiang, have also provided personal guarantees in favour of the bank to guarantee Anjie’s obligations under the loan.
Shares in Leader Environmental Technologies closed 24.32% higher at 4.6 cents on Tuesday.
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The purpose of the loan is to fund the working capital requirements of Anjie.
The company has given a corporate guarantee in favour of the bank to guarantee Anjie’s obligation under the loan.
In addition, Lin Baiyin, the executive chairman and chief executive officer of the company and his spouse, Zhan Lanxiang, have also provided personal guarantees in favour of the bank to guarantee Anjie’s obligations under the loan.
Shares in Leader Environmental Technologies closed 24.32% higher at 4.6 cents on Tuesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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