SINGAPORE (Oct 3): Just a week after it was slapped with a notice of compliance (NOC) by Singapore Exchange Regulation (SGX RegCo), DLF Holdings announced Thursday it is taking an interest-free loan of $500,000 from founder Manfred Fan Chee Seng.

Repayable within six months from the date of the loan agreement on Oct 2, 2019, DLF says in a bourse filing that the loan will be used for the group’s general corporate and working capital purposes. 

Fan, currently DLF’s chairman and executive director, owns 26.8 million shares in the company, representing 22.11% of its entire issued share capital.

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