Dongjiang Environmental to Cover Loan Payment for Unit; Shares Slip 2%
MT Newswires Live
Sep 22
Dongjiang Environmental (HKG:0895) will cover 18.5 million yuan in loan payments for its subsidiary Mianyang Dongjiang, which has struggled to repay a bank loan due to liquidity issues, according to a Sept. 19 Hong Kong bourse filing.
Shares of the firm were down nearly 2% in Monday morning trade.
The amount, covering principal and interest owed to the Postal Savings Bank, follows earlier payments made by Dongjiang Environmental under a joint liability guarantee.
Dongjiang said it will push the unit to improve operations and repay the outstanding sum.
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