Hi Fook Woo,
Someone asked similar question in the AGM before. And if I remember correctly, the management wanted to take advantage of the extremely low interest rate three years ago. Those loans are being used to finance their rapid expansion, investment in the new iHQ at Paya Lebar and other investments.
For the latest update on the loans, you can read point number 5 of my article on BreadTalk’s AGM here.
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