You are here

Leader Environmental unit receives 1-year extension on 80m yuan loan

LEADER Environmental Technologies' wholly owned subsidiary Jilin Anjie Environmental Engineering Co has renewed an 80 million yuan (S$17.4 million) facility from China Merchants Bank for another year beginning Nov 9, 2015, the maker of industrial environmental protection systems announced on Wednesday.

The loan was extended on substantially similar terms and conditions, Leader said.

The company has provided a corporate guarantee for the subsidiary. Executive chairman and chief executive Lin Baiyin and his spouse, Zhan Lanxiang, have also provided personal guarantees for the loan.

Leader shares were last bid at 3.3 Singapore cents and offered at 4.3 Singapore cents on Tuesday.