Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
This filing discloses an amendment to Hanwha Ocean’s loan decision for its Singaporean subsidiary to finance a tender offer for a Singaporean shipyard, increasing the loan amount from approximately KRW 209.8B to KRW 234.2B.
📊 [Key Disclosure Highlights & Summary]
- Filing Type: Decision on Loan to Related Party (Amendment)
- Related Filing Submission Date: September 11, 2024
- Reason for Amendment: Change in loan amount
- Key Revisions:
- Loan Amount: (Before) KRW 209,754,463,386 (SGD 203,544,326) → (After) KRW 234,209,384,901 (SGD 227,275,218)
- Loan-to-Equity Ratio: (Before) 4.9% → (After) 5.4%
- Total Outstanding Loan Balance: (Before) KRW 209,754,463,386 → (After) KRW 234,209,384,901
- Text Revisions: Removal of notes regarding potential interest rate adjustments and reflection of updated loan figures
[Detailed Loan Terms]
- Borrower: Hanwha Ocean SG Holdings Pte. Ltd. (Affiliate of Hanwha Ocean)
- Transaction Date: September 11, 2024
- Loan Amount: KRW 234,209,384,901 (SGD 227,275,218; applied exchange rate of SGD 1 = KRW 1,030.51 as of September 11, 2024)
- Total Equity: KRW 4,312,157,120,697 (Based on FY2023 consolidated financial statements)
- Loan-to-Equity Ratio: 5.4%
- Interest Rate: 4.6% per annum (Overdraft interest rate pursuant to tax regulations)
- Loan Period: September 11, 2024 – June 10, 2025
- Total Outstanding Loan Balance: KRW 234,209,384,901
- Purpose of Loan: Capital provision for the subsidiary’s tender offer to acquire shares in Dyna-Mac Holdings Ltd. in Singapore
- Board Resolution Date: September 11, 2024 (4 Outside Directors present, 1 absent)
[Other Material Notes]
- Disbursements will be made in installments during the loan period depending on the tender offer process.
- Borrower summary financial statements are omitted as the company was newly incorporated in 2024.
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Loan Disbursement Execution and Subsidiary Tender Offer Progress
This amendment increases the loan commitment to support the Singapore subsidiary’s tender offer for Dyna-Mac Holdings, making it essential to monitor the installment disbursements over the loan period (September 11, 2024 – June 10, 2025) and the progress of the subsidiary’s equity acquisition. Verifying these developments is necessary to evaluate the company’s capital allocation and operational execution of its affiliate’s investment project. Relevant progress and loan status updates can be verified through future regular financial reports (Quarterly, Semi-Annual, or Annual Business Reports) or subsequent official public disclosures.
📢 Disclaimer & Source Notice
Source: This content was newly structured based on official data submitted to the Financial Supervisory Service’s DART system.
Investment Risk Warning: This content is provided for informational and linguistic reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific stocks. All investment decisions and financial responsibilities rest solely with the investor.
Contact: For compliance inquiries or copyright requests, please contact ksb220805@gmail.com.
