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Medi Lifestyle Secures Loan from Controlling Shareholder

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Medi Lifestyle (SGX:Z4D) signed a loan agreement with controlling shareholder, Chua Yi Hang, for a non-interest bearing loan of up to SG$480,000, according to a Wednesday filing with the Singapore Exchange.

The loan comprises the previously advanced SG$200,000 and a balance sum of SG$280,000.

Chua currently has a 25.06% stake in the company.

Under the agreement, Chua will have the right and option to make changes to the board during the loan's one-year term.

Proceeds from the loan will be used for general working capital needs and for corporate activities.

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