Brief: Shandong Fengxiang Co Says Notified By GMK Holdings Group That Its Subsidiaries Had Overdue Debts Recently

Shandong Fengxiang Co

28/03/2022 02:50

March 28 (Reuters) - Shandong Fengxiang Co Ltd  9977.HK :
    * NOTIFIED BY GMK HOLDINGS GROUP THAT ITS SUBSIDIARIES HAD
OVERDUE
DEBTS RECENTLY
    * GMK FINANCE WAS INVOLVED IN OVERDUE REPAYMENT DISPUTES
    * BOARD IS ACTIVELY NEGOTIATING WITH GMK HOLDINGS
    * BOARD CONSIDERS THAT THE MATTERS WILL NOT AFFECT NORMAL
OPERATION OF GROUP AT PRESENT
    * BOARD IS ALSO CURRENTLY ASSESSING FUTURE IMPACT OF THE
MATTERS
    * CREDITOR FILED A CIVIL COMPLAINT AGAINST GMK FINANCE, AND
GUARANTORS FOR OVERDUE DEBTS
    * GROUP'S WITHDRAWAL & UTILISATION OF DEPOSITS FOR DAILY
OPERATIONS & ITS COLLECTION OF DEPOSIT INTERESTS ARE STILL
NORMAL

Source text for Eikon:  ID:nHKS2FPpD 
Further company coverage:  9977.HK 

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