Brief: Founder Holdings Says Default Of Entrusted Loan By Peking Founder May Have Impact On FY Financial Statement
02/03/2020 14:48
March 2 (Reuters) - Founder Holdings Ltd 0418.HK :
* REFERS TO DEFAULT OF ENTRUSTED LOAN TO PEKING FOUNDER
* DEFAULT OF ENTRUSTED LOAN BY PEKING FOUNDER MAY RESULT IN
IMPAIRMENT OF LOAN & HAVE IMPACT ON FY FINANCIAL STATEMENT
* AS JUDICIAL RESTRUCTURING OF PEKING FOUNDER INITIATED,
PEKING
FOUNDER IS NOT ALLOWED TO SETTLE INDIVIDUAL DEBTS
* AS OF MARCH 2, OUTSTANDING AMOUNT OF LOAN GRANTED BY GROUP
TO
PEKING FOUNDER UNDER 2016 ENTRUSTED LOAN AGREEMENT RMB370
MILLION
Source text for Eikon: ID:nHKS1C7Tbv
Further company coverage: 0418.HK
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