EX-10.33 6 ff12023a9ex10-33_primech.htm SUPPLEMENTAL LETTER DATED AUGUST 18, 2022 FOR BANKING FACILITY DATED JUNE 5, 2020, BY AND BETWEEN MAINT-KLEEN PTE. LTD. AND THE LENDER

Exhibit 10.33

 

 

CONFIDENTIAL

 

18 August 2022

 

Maint-Kleen Pte. Ltd.

25 Ubi Crescent

Singapore 408580

 

Attention: Mr Hansel Loo
Director

 

Dear Sirs

 

RECEIVABLES PURCHASE FACILITY

 

We, The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (the “Bank”), refer to the facility letter dated 5 June 2020 (as the same may be revised, amended, supplemented and/or replaced from time to time by written agreement) (the “Facility Letter”) and the Receivables Purchase Recourse Terms and Conditions (the “Conditions”) annexed thereto (collectively the “Agreement”) in respect of the receivables purchase facility (the “Facility”) made available to Maint-Kleen Pte. Ltd. (the “Seller”), and wish to advise the following revisions to the terms and conditions as set out in this supplemental facility letter (the “Supplemental Facility Letter”).

 

All capitalised terms used in this Supplemental Facility Letter shall have the same meanings as defined in the Agreement unless otherwise defined in this Supplemental Facility Letter.

 

1.Revision to the Discount Charge Rate

 

For amounts denominated in SGD

 

3 per cent per annum over the three months Bank’s Cost of Funds, as conclusively determined by the Bank.

 

2.Revision to the Approved Debtors

 

The Bank has agreed to the list of revised Debtors submitted by the Seller. Accordingly, the details of the Approved Debtors together with the Approved Currencies and Credit Funding Limits applicable to them are set below, and shall constitute the revised definition of “Approved Debtors”.

 

 

Issued by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (UEN S16FC0010A).

The Hongkong and Shanghai Banking Corporation Limited is incorporated in the Hong Kong SAR with limited liability.

 

RESTRICTED

 

 

 

 

Maint-Kleen Pte. Ltd. Page 2 of 7
  18 August 2022
   

 

   Approved   Approved   Basic of   Funding 
Approved Debtor  Currency   Country   Notification   Limit 
Ang Mo Kio Town Council   SGD    Singapore    Notified    450,000 
Dbs Trustee Limited As Trustee Of Mapletree Woodlands Spectrum   SGD    Singapore    Non-Notified    120,000 
Fairprice Group Hawker Centre Pte Ltd   SGD    Singapore    Non-Notified    60,000 
Institute Of Technical Education   SGD    Singapore    Non-Notified    350,000 
Lian Beng - Apricot (Sembawang) Pte Ltd   SGD    Singapore    Non-Notified    100,000 
Mcst 1853 - Cititech Industrial Building   SGD    Singapore    Non-Notified    40,000 
Mcst 2591 - Melrose Park   SGD    Singapore    Non-Notified    50,000 
Mcst 2790 - Tropical Spring Condominium   SGD    Singapore    Non-Notified    40,000 
Mustafa Centre   SGD    Singapore    Non-Notified    250,000 
Ntuc Foodfare Co-Operative Ltd - Whampoa Market   SGD    Singapore    Non-Notified    0 
Pan Pacific Serviced Suites Orchard, Singapore   SGD    Singapore    Non-Notified    20,000 
Parkroyal On Kitchener   SGD    Singapore    Non-Notified    0 
Pasir Ris-Punggol Town Council   SGD    Singapore    Non-Notified    200,000 
Raffles Institution   SGD    Singapore    Non-Notified    270,000 
Tanjong Pagar Town Council   SGD    Singapore    Non-Notified    450,000 

 

Unless otherwise defined in this Supplemental Facility Letter, all words and expressions as defined in the Agreement shall have the same meanings when used or referred to herein.

 

Save as revised or supplemented herein, all other provisions of the Agreement shall continue to apply and to remain in full force and effect.

 

Without prejudice to the terms and conditions of the Agreement as supplemented by this Supplemental Facility Letter, the Facility is subject to review from time to time.

 

This Supplemental Facility Letter shall be governed by, and construed in accordance with the laws of Singapore.

 

RESTRICTED

 

 

 

 

Maint-Kleen Pte. Ltd. Page 3 of 7
  18 August 2022
   

 

Please arrange for the enclosed duplicate of this Supplemental Facility Letter to be signed and returned approving the acceptance of the revised terms and conditions within 21 days from the date of this Supplemental Facility Letter.

 

Yours faithfully

 

/s/ Lionel Wee   /s/ David Sim
Lionel Wee   David Sim
Vice President   Senior Vice President and Team Head
Commercial Banking   Commercial Banking

 

RESTRICTED

 

 

 

 

Maint-Kleen Pte. Ltd. Page 4 of 7
  18 August 2022
   

 

To: The Manager
  The Hongkong and Shanghai Banking Corporation Limited

 

ACCEPTANCE AND CONFIRMATION

 

We, Maint-Kleen Pte. Ltd., confirm our acceptance of the offer and all the revised terms and conditions contained in the Supplemental Facility Letter dated 18 August 2022.

 

EXECUTED and DELIVERED )  
as a Deed on  26th August 2022  (date) )  
for and on behalf of )  
Maint-Kleen Pte. Ltd. )  
by ) /s/ LOO HANSEL (LU HANSEL)
  ) Director
  ) Name: LOO HANSEL (LU HANSEL)
  )  
  )  
  ) /s/ WONG CHEE KWOK
  ) Director/ Secretary*
  ) Name: WONG CHEE KWOK
  )  

 

*Delete as applicable.

 

RESTRICTED

 

 

 

 

Maint-Kleen Pte. Ltd. Page 5 of 7
  18 August 2022
   

 

To: The Manager
  The Hongkong and Shanghai Banking Corporation Limited (the “Bank”)

 

GUARANTOR’S CONFIRMATION

 

I confirm that:-

 

(a)I consent to the terms and conditions as set out in the Bank’s facility letter dated 5 June 2020 (as the same may be revised, amended and/or supplemented from time to time) with the Receivables Purchase (Recourse) Terms and Conditions annexed thereto and the Supplemental Facility Letter dated 18 August 2022 to Maint-Kleen Pte. Ltd. (the “Facility Letter”); and

 

(b)I am and will be bound by the terms of the guarantee executed or to be executed by me in favour of the Bank, and that my obligations under the said guarantee are and will remain in full force and effect.

 

/s/ Ho Kin Wai  
For and on behalf of  
Sapphire Universe Holdings Limited  
   
Name: Ho Kin Wai  
Designation: Director  
Date: 26th August 2022  

 

RESTRICTED

 

 

 

 

Maint-Kleen Pte. Ltd. Page 6 of 7
  18 August 2022
   

 

To: The Manager
  The Hongkong and Shanghai Banking Corporation Limited (the “Bank”)

 

SECURITY PROVIDER’S CONFIRMATION

 

I confirm that:-

 

(a)I consent to the terms and conditions as set out in the Bank’s facility letter dated 5 June 2020 (as the same may be revised, amended and/or supplemented from time to time) with the Receivables Purchase (Recourse) Terms and Conditions annexed thereto and the Supplemental Facility Letter dated 18 August 2022 to Maint-Kleen Pte. Ltd. (the “Facility Letter”); and

 

(b)I am and will be bound by the terms of the guarantee executed or to be executed by me in favour of the Bank, and that my obligations under the said guarantee are and will remain in full force and effect.

 

/s/ Ho Kin Wai  
Name: Mr Ho Kin Wai  
Identification No.: HJ2086123  
Date: 26th August 2022  

 

RESTRICTED

 

 

 

 

Maint-Kleen Pte. Ltd. Page 7 of 7
  18 August 2022
   

 

To: The Manager
  The Hongkong and Shanghai Banking Corporation Limited (the “Bank”)

 

SECURITY PROVIDER’S CONFIRMATION

 

I confirm that:-

 

(a)I consent to the terms and conditions as set out in the Bank’s facility letter dated 5 June 2020 (as the same may be revised, amended and/or supplemented from time to time) with the Receivables Purchase (Recourse) Terms and Conditions annexed thereto and the Supplemental Facility Letter dated 18 August 2022 to Maint-Kleen Pte. Ltd. (the “Facility Letter”); and

 

(b)I am and will be bound by the terms of the guarantee executed or to be executed by me in favour of the Bank, and that my obligations under the said guarantee are and will remain in full force and effect.

 

/s/ Vernon Kwek  
Name: Mr Vernon Kwek  
Identification No.: S7145417G  
Date: 26th August 2022  

 

RESTRICTED