CNQC International to Provide Indemnity in Vanke Deal

CNQC International Holdings Limited (HK:1240) has released an update.

CNQC International Holdings Limited has entered into a Deed of Indemnity with Vanke, agreeing to provide financial assistance in the form of an indemnity. This arrangement involves covering up to 5% of Vanke’s liabilities related to a HK$587 million bank facility for a joint venture. The transaction is classified as discloseable under Hong Kong’s Listing Rules, reflecting its significance to the company’s financial dealings.

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