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Reenova taps additional loan to fund RTO with 3DOM Singapore

The Edge Singapore
The Edge Singapore3/20/2022 3:42 PM GMT+08  • 2 min read
Reenova taps additional loan to fund RTO with 3DOM Singapore
Reenova had earlier issued a $1.2 million convertible loan
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Reenova Investment Holding has taken out a $350,000 loan costing 12% a year to fund its planned reverse takeover of battery company 3DOM (Singapore).

The lender, JW Venture Capital, is wholly-owned by one Chiu Kim Wah (Zhao Jianhua) and its director is Frank Tay Zhi Cheng (Zheng Zhicheng).

Besides the 12% annual interest, upfront, there’s a late interest of 36% per annum.

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