Asia
Fujian Sanmu Faces Overdue Debt of 90 Million Yuan
Fujian Sanmu Group (SHE:000632) said it has an overdue debt of 90.1 million yuan, according to a Shenzhen bourse filing on Saturday.The Chinese commodities trader's shares climbed 3% at the close of Monday's trade.The company has an unpaid balance of 49.1 million yuan from a sale and purchase contract with Dongshan Economic and Technological Development Zone Kaitou Trading and Dongshan Kaitou Group and an overdue debt of 41.1 million yuan in another sale and purchase contract with Fujian Yunxiao Shengcheng Economic Development.The company faces a lawsuit from Dongshan Kaitou, which resulted in the freezing of some of its bank accounts.
SHE:000632
