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418 - Founder Holdings News Story

HK$0.76 0.1  7.0%

Last Trade - 14/05/21

Sector
Technology
Size
Small Cap
Market Cap £83.5m
Enterprise Value £50.4m
Revenue £85.8m
Position in Universe 3515th / 6102

BRIEF-Founder Holdings Says Default Of Entrusted Loan By Peking Founder May Have Impact On FY Financial Statement

Mon 2nd March, 2020 2:48pm
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 

 ((Reuters.Briefs@thomsonreuters.com;))
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