CNGR Advanced Material (02579) plans to provide a loan of up to 6.8 million USD to PT Sinerai Setia Pratiwi in proportion to its shareholding.

CNGR Advanced Material (02579) announced that, based on the company's integrated layout of the industrial chain, to ensure the normal production and operation of its equity affiliate SSP, and to strengthen coal quality testing and source quality control, shareholders plan to provide financial support to SSP in proportion to their investment. The company (or its wholly-owned or controlling subsidiaries, the same applies hereafter) intends to provide a loan of no more than USD 6.8 million or the equivalent in RMB to SSP, based on a 34% equity stake, with a loan term of no more than 12 months and an interest rate of no more than 10%. The loan amount mentioned above can be used on a revolving basis within the validity period of the agreement. The recipients of this financial assistance are the companys equity affiliates, with each shareholder providing financial support in proportion to their shareholding. Additionally, the recipient has a good ability to perform, making the overall risk of this financial assistance controllable. The interest rate on the loan is fair and reasonable, and there are no circumstances that would harm the interests of the company and its shareholders, particularly those of minority shareholders.