Mr Cheeng must be very wealthy to lend $10million unsecured......

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bellevem

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07/02/20

20:47

Post #: 42811794
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Originally posted by Bundy_Too: ↑

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8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

Interest rate is 8.5% on funds drawn down. Funding is secured by real property and equipment.

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8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.
Loan facilities are held with:
Structured Growth Capital Inc (AUD $134 million). US based financier with offices in Pennsylvania, New York and South Korea. Part of a senior secured funding group which has successfully transacted over 300 financings in excess of $3 billion over 15 years. Interest rate is 8.5% on funds drawn down. Funding is secured by real property and equipment;
Mac Wealth Holdings Pte Ltd (AUD$10 million), a Singapore registered exempt private company established in 17 October 2018, with no known history of debt funding, no known assets, a Singaporean director (Mr Wong Ying Cheeng) and no known office address other than at a registered office of a Singaporean lawyers office. Interest rate is 8.5% on funds drawn down. Funding is unsecured. The full $10 million has been drawn down and received as cash in the IGE bank account.

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Mr Cheeng must be very wealthy to lend $10million unsecured... He's a nice guy! Was reading an article on Paradise Papers and that had some interesting names in it...
IGE Price at posting: 13.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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