Chip Eng Seng’s wholly-owned subsidiary CES Edutech has entered into a convertible note agreement with its associated company Amdon Consulting and the other shareholders of Amdon Consulting on Nov 2.

Under the terms of the convertible note, CES Edutech has agreed to provide Amdon Consulting of about $1.35 million.

The total principal amount, which includes the sum provided by the other shareholders of Amdon Consulting, comes up to some $1.64 million.

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