The Board of Directors of TA Corporation Ltd. announced that the Company has on May 31, 2021 entered into a loan agreement with Sinotac Group Pte Ltd. (the Lender) pursuant to which the Lender has agreed to provide a loan of up to SGD 10.0 million to the Company (the "Transaction") subject to the terms and conditions of the loan agreement. The Transaction: The principal amount of loan is SGD 10.0 million to be drawn down progressively, subject to available drawn down period of 2 years from the date of the loan agreement. The maturity date of the Loan is 3 years from first drawdown date and repayment of the Loan is subordinated to bank borrowing of the Company. Subject to mutual consent of the Company and the Lender, the available drawn down period and the maturity date of the Loan can be extended for further period of up to 2 years. The Loan will bear interest at 3% per annum unless otherwise agreed and subject to mutual consent. Use of proceeds: The Company intends to use the loan for working capital purposes. Provision of loan as an interested person transaction ("IPT"): The Lender is an "interested person" within the meanings defined in Chapter 9 of Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST"). As such, the Transaction constitutes an interested person transaction for the purpose of Chapter 9 of the SGX-ST Listing Manual. Pursuant to Rule 909 of the SGX-ST Listing Manual, the value of this transaction is the interest payable on the borrowing. Assuming that the maximum amount of the Transaction of SGD 10.0 million is drawn down by the Company and the interest rate is at 3% per annum for 3 years, the total value of IPT is SGD 0.90 million, representing 0.91% of the Group's latest audited consolidated net tangible assets as at 31 December 2020 ("NTA 2020"). The aggregate value of the IPT entered into by the Group with Lender and its subsidiaries from 1 January 2020 to 31 December 2020 amounted to SGD 1.18 million, representing 1.19% of the NTA 2020.