debt
confidence high
sentiment neutral
materiality 0.40
FingerMotion subsidiary enters SGD 250K loan agreement at 1.67% monthly interest
FingerMotion, Inc.
- Finger Motion Company Ltd borrowed SGD 250,000 from Rita Chou Phooi Har for working capital; full amount drawn on Nov 7, 2024.
- Loan bears interest at 1.67% per month (~20% annual), payable monthly; due one year from drawdown unless extended by lender.
- Borrower restricted from major structural changes, asset sales, loans, or charter amendments without lender consent.
- Prepayment allowed only in SGD 50,000 increments with 3 business days' notice and accrued interest.