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