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FINWIRES

Sterling Group Gets Early Loan Repayment from Santai

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Sterling Group (HKG:1825) received HK$5.2 million in early repayment from Santai Global Asset Management against the outstanding principal and interest of certain loans.

The company's unit, Sterling Apparel, provided Santai with advances of HK$33.5 million at an interest rate of 7% per annum in various tranches in 2022 and 2023.

Of the repayment amount, HK$4.4 million will be used to repay outstanding amounts under the loans, while the remaining HK$800,000 will cover Sterling Apparel's trade receivables due from Santai.

Amounts under the financial assistance have now been fully repaid by Santai.

Trading in the shares of the company, which was suspended July 2, remains suspended.

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