Davis Commodities Secures S$10M Banking Facility
Ticker: DTCK · Form: 6-K · Filed: Dec 23, 2024 · CIK: 1949478
Sentiment: neutral
Topics: debt-financing, credit-facility, subsidiary-financing
TL;DR
DAVIS COMMODITIES just got a S$10M credit line for 12 months, starting Dec 17, 2024.
AI Summary
On December 17, 2024, Davis Commodities Limited's wholly owned subsidiary, Davis Commodities Pte. Limited, secured a S$10,000,000 banking facility. This facility will be available for a period of 12 months starting from the agreement date.
Why It Matters
This new banking facility provides Davis Commodities with increased financial flexibility and access to capital, potentially supporting future growth or operational needs.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a standard banking facility, with no immediate negative implications for the company.
Key Numbers
- S$10,000,000 — Banking Facility Amount (This is the total amount of credit available to the subsidiary.)
- 12 months — Facility Availability Period (The duration for which the S$10M facility can be utilized.)
Key Players & Entities
- Davis Commodities Limited (company) — Filer and parent company
- Davis Commodities Pte. Limited (company) — Wholly owned subsidiary
- S$10,000,000 (dollar_amount) — Amount of the banking facility
- December 17, 2024 (date) — Date the banking facility agreement was accepted and became available
FAQ
What is the purpose of the S$10,000,000 banking facility?
The filing does not specify the exact purpose of the facility, only that it was accepted by the subsidiary.
What are the terms and conditions of the banking facility agreement?
The filing states that the facility is subject to the terms and conditions contained in the Agreement, and any applicable law and regulations, but does not detail these terms.
Is the banking facility secured or unsecured?
The filing does not provide information on whether the facility is secured or unsecured.
What is the interest rate associated with the S$10,000,000 facility?
The filing does not disclose the interest rate for the banking facility.
Will the company be providing any collateral for this facility?
The filing does not mention any collateral being provided for the banking facility.
Filing Stats: 683 words · 3 min read · ~2 pages · Grade level 15.3 · Accepted 2024-12-23 13:30:02
Key Financial Figures
- $10,000,000 b — he “ Company ”) accepted a S$10,000,000 banking facility (the “ Facility &r
Filing Documents
- davis_6k.htm (6-K) — 19KB
- davis_ex9901.htm (EX-99.1) — 16KB
- 0001683168-24-008931.txt ( ) — 36KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Davis Commodities Limited By: / s / Li Peng Leck Name: Li Peng Leck Title: Executive Chairperson and Executive Director (Principal Executive Officer) Date: December 23, 2024 4