E-Commodities Holdings Limited (HK:1733) has released an update.
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E-Commodities Holdings Limited has provided corporate guarantees for credit facilities amounting to RMB200 million and USD3.92 million to its subsidiaries, Hainan More Richway and E-Commodities Beijing. These financial resources, secured from the Bank of East Asia (China) Limited, are for a five-year period starting June 2024 and will be used for business operations such as issuing letters of credit and bill advances. The Board believes these agreements will strengthen the subsidiaries’ cashflows and are in the interest of the company and its shareholders.
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