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Asia-Pacific Strategic Investments' SG$5 Million Loan Deal Collapses

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Asia-Pacific Strategic Investments' (SGX:5RA) SG$5 million convertible loan facility lapsed after lenders failed to transfer the funds within the agreement period, according to a filing with the Singapore bourse on Wednesday.

The company had signed loan agreements with Eastern Billion Industries and Passion9 in May, and noted that all conditions precedent to drawdown had been satisfied.

Asia-Pacific Strategic does not expect the lapse to have any material adverse financial impact. The company is currently evaluating alternative funding options.

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