News

Loan Facilities Granted By United Overseas Bank Limited

The Board of Directors of FibreChem Technologies Limited (the "Company") wishes to announce that the Company has accepted an offer from United Overseas Bank Limited on 31 January 2008 for a USD 30 million term loan (the "Term Loan"), which has a term of 3 years.

The Term Loan is not secured against any assets of the Company. The Company's payment obligations under the Term Loan are separately guaranteed by Honglin International Company Limited, an intermediate investment holding company indirectly owned by the Company.

The proceeds from the Term Loan will be used to fund the purchase of new production facilities for new and existing products of the Company and the resultant growth in working capital requirements.

None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the aforesaid transactions.



By Order of the Board




Sophia Lim Siew Fay
Company Secretary

1 February 2008