Announcement on behalf of major subsidiary,
Heywood Limited, capital loan given to
Norley Corporation Inc.
Date of events
2022/04/01
To which item it meets
paragraph 23
Statement
1.Date of occurrence of the event:2022/04/01
2.Funding recipient name, relationship with lender, lending limit
(thousand NTD), starting outstanding balance (thousand NTD), new loan
(thousand NTD), is it part of a scheduled allocation or revolving limit for
the same recipient that the chairman is authorized by the board of directors
to allocate, outstanding balance (thousand NTD) up to the date of
occurrence, reason for new loan (thousand NTD):
(1) Funding recipient name:
Norley Corporation Inc.
(2) Relationship with lender:
Both are 100% subsidiary of
Sincere Navigation Corporation.
(3) Lending limit (thousand NTD):
NT$5,082,954.
(4) Starting outstanding balance (thousand NTD): 0
(5) New loan (thousand NTD): NT$429,450.
(6) Is it part of a scheduled allocation or revolving limit for
the same recipient that the chairman is authorized by
the board of directors to allocate: No.
(7) Outstanding balance (thousand NTD) up to the date of
occurrence: NT$429,450.
(8) Reason for new loan (thousand NTD):
For Norley Corporation Inc. capital injection
to Pacifica Maritime Limited.
3.For collaterals provided by the loan recipient, the content and the value
(thousand NTD):
None.
4.For the latest financial reports of the loan recipient, the capital
(thousand NTD) and the cumulative gains/losses(thousand NTD):
Capital:NT$27,680.
Accumulated profit:NT$11,113,373.
5.Method of calculation of interest:Free of interest.
6.For repayment, the condition and the date:
Five years from the drawdown date.
7.The amount of monetary loans extended to others as of the date of
occurrence (thousand NTD):NT$2,004,100.
8.The total amount of monetary loans extended to others as a percentage of
the public company's net worth on the latest financial statements as of the
date of occurrence: 13.89%
9.Sources of funds for the company to extend monetary loans to others:
Subsidiary itself.
10.Any other matters that need to be specified: None.
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Sincere Navigation Corporation published this content on 01 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2022 06:52:07 UTC.
Sincere Navigation Corp is a Taiwan-based company mainly engaged in the ship transportation business. The Company is engaged in the operation of ship transportation business, tugging business, shipping agency business, ship management and manufacturing supervision business. The fleet includes multi-purpose lightweight bulk ships, extra-large bulk ships, super-large iron ore special vessels and extra-large oil tankers, which mainly transport bulk materials such as ore, coal and crude oil. The customers include iron ore suppliers, steel companies and shipping industry operators in domestic and overseas markets.
SINCERE NAVIGATION CORPORATION 
