GRP Ltd. (SG:BLU) has released an update.
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GRP Limited has announced the receipt of a second partial refund totaling approximately S$1.09 million from the PRC Authority, as part of an agreed series of five instalments totalling roughly $4.75 million. The refunds are related to a previously fully impaired advance payment of RMB25.7 million by the company’s subsidiary, Tangshan GRP. GRP Limited will reverse the impairment as the instalments are received and update investors on subsequent refunds.
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