Anchor Resources to issue S$1m in non-convertible bonds for working capital

Singapore

MALAYSIAN gold mine operator Anchor Resources is proposing to issue S$1 million in non-convertible bonds to minority shareholder Gan Huai Shi, with a six-month term and a 20 per cent per annum coupon rate, the company announced in a bourse filing on Friday.

Mr Gan is the son of a substantial shareholder of Anchor Resources, Koh Ah Luan, who owns 6.63 per cent of the company. Mr Gan himself holds a 0.15 per cent stake in Anchor Resources.