SINGAPORE - Yamada Green Resources subsidiary Fujian Wangsheng Industrial Co has pledged its factory and office building in China as a security to China Everbright Bank, as part of a multiple credit facility agreement.
This is in relation to a credit facility of up to 50 million yuan ($10.1 million) granted by the bank starting Feb 26, 2019 to Feb 25, 2022, the China-based supplier mushroom supplier said in a bourse filing on Thursday (March 21) afternoon.
The properties are located in Houyu Jingxi Town, Minhou County, Fuzhou City in the Fujian Province and the credit facility has not been drawn down as at Thursday March 21.
The filing added that the facility agreement is not expected to have any material impact on the group's net tangible assets and earnings per share for the financial year ended June 30, 2019.
Shares of Yamada Green Resources have been suspended from trading since September 2017.