China Yuanbang Property Subsidiary Receives Loan Repayment Notice

MT Newswires

2024/10/22

China Yuanbang Property's (SGX:BCD) indirect 100% subsidiary, Guangdon Yuangbang Real Estate, received a notification from Guangzhou Assets Management requesting for the immediate repayment of outstanding dues, according to a filing with the Singapore Exchange on Monday.

The lender is requesting for the payment of a loan balance worth 182.0 million yuan along with default interest of 25.7 million yuan.

The property management company is now in discussions with the lender to work out a revised repayment schedule for the loan.

Meanwhile, the board has applied for a voluntary suspension of trading in its shares until a revised repayment schedule is agreed.

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