Brief: Rich Capital Updates On Breach Of Loan Covenant By Subsidiary

Rich Capital Holdings

29/07/2020 15:42

July 29 (Reuters) - Rich Capital Holdings Ltd  RICH.SI :
    * GOT INFORMED THAT FIRST CAPITAL IS IN BREACH OF LOAN
COVENANT
REGARDING CONSTRUCTION SCHEDULE OF CONSTRUCTION OF KIM CHUAN
PROJECT
    * LOAN FOR KIM CHUAN PROJECT FOR AN AMOUNT OF S$8.6 MILLION
    * CO'S EXECUTIVES IN DISCUSSIONS WITH FINANCIAL INSTITUTION
WHICH
HAS GRANTED LOAN TO WAIVE ANY BREACHES OF THE LOAN COVENANT
    * DISCUSSIONS ALSO TO OBTAIN AN EXTENSION OF BANKING
FACILITIES
    * CO & FIRST CAPITAL NOT RECEIVED ANY NOTICE FROM FINANCIAL
INSTITUTION ON BREACH OF COVENANT

Source text for Eikon:  urn:newsml:reuters.com:*:nSNZ5TbTDX
Further company coverage:  RICH.SI 

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