Key Highlights: Term Loan Facility

• Borrower: Beng Kuang Marine Limited.
• Lender: HSBC, Singapore Branch.
• Facility Amount: Up to S$15,000,000.
• Purpose: To partially finance the cash consideration for acquiring the remaining 49% of Asian Sealand Offshore and Marine Pte. Ltd. (ASOM).
• Target Ownership: The acquisition will result in the Company owning 100% of ASOM.
• Repayment Triggers: The loan may become immediately repayable if the acquisition agreement (SPA) is terminated or if the Company fails to maintain 100% ownership of ASOM.
• Key Restriction: The Company cannot transfer or dilute its interest in ASOM without the Bank's prior consent.