Redwood : Annoucement on behalf of major subsidiary, Redwood Interior Pte Ltd, to declare the cancellation of Derivatives (Insterest Rate SWAP) transactions

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Provided by: Redwood Group Ltd
SEQ_NO	1	Date of announcement	2022/05/23	Time of announcement	16:42:49
Subject	Annoucement on behalf of major subsidiary, Redwood Interior Pte Ltd, to declare the cancellation of Derivatives (Insterest Rate SWAP) transactions
Date of events	2022/05/23	To which item it meets	paragraph 53
Statement	1.Date of occurrence of the event:2022/05/23 2.Company name:Redwood Interior Pte Ltd 3.Relationship to the Company (please enter "head office" or "subsidiaries"):subsidiary 4.Reciprocal shareholding ratios:100% 5.Cause of occurrence: Cancel Redwood Interior Pte Ltd's financing of SGD (the same as below) 23 million from Singapore DBS Bank for the construction of the factory, with a loan period of 20 years; of which 15 million signed an interest rate exchange contract with the bank (Interest Rate SWAP), and the remaining 8 million Yuan is purely medium and long-term financing, calculated at floating interest rates. 6.Countermeasures: Considering that the US dollar may continue to raise interest rates during the future financing period, it is planned to cancel the interest rate exchange contract (Interest Rate SWAP) of RMB 15 million and replace it with medium and long-term fixed interest rate financing. Another 8 million yuan financing was also changed from a floating interest rate to a fixed interest rate. The fixed interest rate and period of the aforementioned two financings will be re-contracted with DBS Bank 7.Any other matters that need to be specified:None.