Coastal Corp Clarifies Banking Facility Repayments with DBS Bank

Coastal Corporation Ltd has issued a clarification regarding its banking facilities with DBS Bank, addressing recent credit rating revisions and discrepancies in banking records. The company asserts that it has maintained sufficient funds for scheduled repayments and that apparent delays in bank records are due to the bank's internal processing, including subsequent-day manual processing, value-dating, and system-related adjustments for MTM/FCY movements and working capital utilization. DBS Bank has confirmed via email that the account conduct is satisfactory and no repayment stress is observed. The clarification aims to address potential investor concerns arising from these accounting entries.