FINWIRES · TerminalLIVE
FINWIRES

Yida China Hit With Lawsuit Over 498 Million Yuan Subsidiary Debt

By

-- Yida China (HKG:3639) has been served with a lawsuit by Bohai Trust seeking the recovery of 498 million yuan plus interest, according to a Wednesday filing with the Hong Kong Exchange.

The property developer's shares gained nearly 3% in morning trade on Thursday.

The claim relates to a trust fund loan contract involving Yida's subsidiary, Gaoji Co., which allegedly failed to meet its repayment obligations.

Bohai Trust is also seeking priority compensation rights over the loan's collateral and Yida Real Estate's equity interest in Gaoji.

Yida China said it is reviewing the claim and is in talks with the lender to reach an arrangement.

Related Articles

Asia

Hainan Rubber Industry Receives 75-Million-Yuan Insurance Payout for Cold Damage

China Hainan Rubber Industry (SHA:601118) received 74.8 million yuan in insurance compensation for cold damage that affected its rubber trees in January, according to a Thursday filing with the Shanghai bourse.The payout includes 66.7 million yuan under the full cost insurance policy that will reduce agricultural production costs and 8.1 million yuan under the materialized cost insurance policy that will reduce productive biological assets.The final accounting treatment will depend on audit confirmation.Shares of the rubber company were down 1% in recent trade.

$SHA:601118
Asia

UnUsUaL Flags Net Loss in Fiscal 2026; Shares Down 7%

UnUsUaL (SGX:1D1) is expecting to book a net loss for the fiscal year ended March 31, according to a filing with the Singapore Exchange on Wednesday.Shares of the live events and concerts company plunged over 7% in Thursday trading.The company has attributed its net loss to increased operational costs amid heightened market competition and will release its results on May 28.

$SGX:1D1
Equities

Norway's BlueNord Places $400 Million of Senior Unsecured Bond

BlueNord (BNOR.OL) said Wednesday it issued a new senior unsecured bond worth $400 million with a fixed interest rate of 7.875% per annum.The five-year bond is due in 2031, with the net proceeds earmarked for refinancing the oil and gas company's $300 million senior unsecured bonds, as well as for general corporate purposes. Settlement is scheduled for May 19.DNB Carnegie, Fearnley Securities, and Pareto Securities acted as joint bookrunners for the bond issue.

$BNOR.OL