Exemption
2.—(1)  The interest of US$68,547.21 payable from 21 November 2016 to 21 August 2017 (both dates inclusive) by Tri‑View Shipping Pte Ltd to Mitsui & Co., Ltd on a loan granted under a loan agreement dated 17 August 2016, for the purpose of re‑financing an earlier loan obtained to finance the construction of the vessel “IVS Triview (Hull No. 499)”, is exempt from tax.
(2)  The exemption under sub‑paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 19 April 2018 and addressed to Tri‑View Shipping Pte Ltd.