Corporate digest

International Healthway Corp

PROPERTY developer OUE, which has launched a takeover bid for International Healthway Corporation (IHC), has agreed to lend the nursing home owner up to S$50 million to finance its working capital requirements.

It entered into a loan agreement with IHC on Friday, with an interest rate of 4 per cent a year. This follows OUE's "comfort letter" stating its intention to work towards stabilising IHC's business and financial position.