HongKong Chinese Limited has announced that the General Division of the High Court of the Republic of Singapore has awarded damages amounting to approximately S$17.7 million in favor of a bank involved in litigation over loan disbursements. The case, which was initially highlighted in a joint announcement with Lippo Limited, involves loans provided by the bank to independent third-party customers for purchasing flats at Marina Collection, Sentosa, Singapore. Despite the court ruling, HongKong Chinese Limited asserts that the financial impact on the Group's asset value and financial position will not be materially adverse. Shareholders and potential investors are advised to exercise caution when dealing with the company's shares.
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