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FINWIRES

Sumwon Development Refutes NT$300 Million Enforcement Report

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Sumwon Development (TPE:4416) denied a media report claiming the company was subject to compulsory enforcement over a NT$300 million promissory note, calling it inaccurate.

The company said the enforcement action referred to in the report involved a related party, Shanyuan Construction, not Sumwon Development, according to a Friday filing with the Taiwan Exchange.

It urged investors to rely on disclosures published through Taiwan's Market Observation Post System (MOPS) for official company information.

Shares of the construction company were down 3% in recent trade.

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