FINWIRES · TerminalLIVE
FINWIRES

China International Suffers Legal Setback Over Construction Debt

By

China International's (SGX:BEH) subsidiaries, Group, namely CIHL (Tianjin) City Development and Yichang Zhongjia Xinye Asset Management, received a first-instance judgment from the Yilin District Court of Yichang City, according to a Tuesday bourse filing.

Based on the hearing, the two companies have been ordered to bear joint liability for debts owed to Hunan Construction Engineering of up to 11 million yuan and 739,074 yuan respectively.

The company had already made provisions in its accounts and added that there will be no impact on its financial performance due to the verdict.

Related Articles

Asia

Buchang Pharma Subsidiary Adds Health Food to Business Scope

Shandong Buchang Pharmaceuticals (SHA:603858) subsidiary Shandong Buchang Qihang Pharmaceutical Sales added pre-packaged health food sales to its business scope.The change was made due to operational and management needs, according to a Tuesday filing with the Shanghai bourse.

$SHA:603858
Asia

Asiatic Group Swings to Loss in Fiscal Q4

Asiatic Group (SGX:5CR) posted a loss attributable to equity holders of SG$25.7 million in the fiscal fourth quarter, compared with an attributable profit of SG$939,000 a year earlier, according to a Tuesday filing with the Singapore bourse.Loss per share came in at SG$0.0078 in the quarter ended March 31, versus earnings per share of 0.0003 a year earlier.The engineering management specialist's revenue slid 15% year over year to SG$6, the filing said.

$SGX:5CR
Asia

Keppel Repurchases Shares Worth SG$3.3 Million

Keppel (SGX:BN4) bought back 300,000 shares in the open market on Tuesday for about SG$3.3 million, according to a same-day filing with the Singapore Exchange.The infrastructure and real estate company has so far repurchased nearly 7.3 million shares under its existing buyback mandate.

$SGX:BN4