IN BRIEF: Aseana Properties raises USD1 million from directors' loans
Aseana Properties Ltd - Malaysia and Vietnam-focused property developer - Secures USD1 million in total in working capital from three loan agreements, two of which are with directors and associates. The loans run for one year and pay 15% annual interest. They are secured by Aseana's RuMa Hotel & Residence in Kuala Lumpur. Back in January, Aseana had said it was seeking up to USD2 million in short-term finance. This was after it withdrew legal action that it was taking in Malaysian courts against Ireka Corp Bhd, the parent company of its former development manager, for non-payment of various debts. Read More