Link: https://links.sgx.com/1.0.0/corporate-announcements/MV38JII9POR6XHBE/f5621b067ed824ef3ae3bb6630758d73351b1592287a11a115d69b6e46d33e9b

Summary:

• Issuer (WLB Asset II C Pte. Ltd.) remains in full compliance with Trust Deed; all borrower payments received as of June 30, 2025, and latest coupon paid June 21, 2025.

• Principal outstanding as of June 2025 is US$26.06 million; next coupon due December 21, 2025.

• Loan to OE Rooftops One (India, solar energy) classified as “Doubtful” (5% of portfolio) due to multiple loan agreement breaches and accelerated repayment; servicing of WLB4Climate facility continues.

• On August 30, 2025, Kinara Capital (India, SME lending) defaulted on interest payments; its loans (across WLB4Climate, WLB5, WLB6) now classified as “Doubtful” and non-performing (dropping portfolio’s performing loan ratio to 79%).

• KK Fund Leasing Plc (Cambodia) steadily making principal repayments on schedule, with US$1 million left to repay at maturity in December 2025.

• Portfolio diversified across South/Southeast Asia (Cambodia, Indonesia, Philippines, India), lending to sectors like affordable housing, SME finance, microfinance, and energy.

• Macroeconomic climate remains uncertain: trade tensions, tariffs, regional unrest, asset quality pressures in Cambodia/India, and occasional project-specific conflict events.

• No claims have been made under the U.S. Government partial guarantee; cautious outlook maintained amid emerging Asian market risks.

• Report issued October 9, 2025, summarizing issuer and borrower status, portfolio performance highlights, credit events, and loan management updates for H1 2025.