Sterling Group Holdings Limited (HK:1825) has released an update.
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Sterling Group Holdings Limited, through its wholly-owned subsidiary Sterling Apparel Limited, has entered into a loan agreement with Santai Global Asset Management Company Limited for a principal amount of US$4,212,811, carrying an interest rate of 7% per annum. The loan is set to be repaid in full, along with accrued interest, two years from the agreement date, with a higher default interest rate of 10.5% per annum if repayment is delayed. The completion of this transaction is subject to approval by the company’s independent shareholders at an upcoming EGM.
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