KUALA LUMPUR: Nation Heights Holdings Bhd (CHHB) has entered right into a Cash Lending settlement (Unsecured Mortgage) with Golden Contact Capital Administration Sdn Bhd (GTCM) for a RM3mil mortgage.
In a submitting with Bursa Malaysia, CHHB stated the RM3mil mortgage from GTCM is for a interval of 12 months at an rate of interest of 8% each year, topic to the phrases and circumstances as stipulated within the stated MoneyLending Settlement.
GTCM is a licensed moneylender underneath the Moneylenders Act 1951.
Tan Sri Lee Kim Yew, who’s a significant shareholder of CHHB, is a director and main shareholder of GTCM.
CHHB stated Lee had abstained and can proceed to abstain from voting and deliberating in any respect board conferences of CHHB on the settlement.
“The execution of the settlement for the mortgage is for the working capital of the group,” CHHB stated, including that the execution of the settlement for the mortgage wouldn’t have any materials impact on the earnings, gearing and web property.