Country Heights Holding Bhd announced that it has entered into a Moneylending Agreement with Golden Touch Capital Management Sdn Bhd on 6 April 2022 whereby it has agreed to borrow a sum of RM3 million from the latter for a period of 12 months at an interest rate of 8% per annum, subject to the terms and conditions as stipulated in the said Moneylending Agreement.
Among the terms of the agreement is that if the borrower defaults in the repayment, the lender shall be entitled to charge simple interest on the unpaid sum of installment which shall be calculated at the rate of eight per centum per annum from day to day from the date of default in repayment of the sum of installment until that sum of an installment is paid.
In a statement, CHHB said the execution of the agreement for the loan is for working capital for CHHB group and the Agreement for the Loan will not have any material effect on the earnings, gearing, and net assets of the Group for the financial year ending 31 December 2021.
