Paranaque—(PHStocks)—Millennium Global Holdings Inc. (PSE: MG) has executed an Investment Agreement with Millennium Ocean Star Corporation (MOSC) for the funding and expansion of MOSC’s trading business.
Under the Agreement, Millennium Global shall advance up to PhP60 million as additional working capital for MOSC. The amount shall be payable in two years with interest rate of 6.5% per annum.
MOSC is engaged in the business of trading of goods such as marine and other related products on a wholesale basis. It is majority-owned by its Chairman and President Yang Chi Jen.