Man Sang International Confronts Loan Default

Man Sang International (HK:0938) has released an update.

Man Sang International Limited faces legal proceedings regarding a substantial loan default of approximately RMB1,212 million, amid negotiations for more favorable repayment terms. Despite the ongoing court case and pandemic-related business challenges, the company remains optimistic about its financial position and ability to settle the dispute, highlighting its property’s draft valuation of RMB2.21 billion and additional unutilized loan facilities.

For further insights into HK:0938 stock, check out TipRanks’ Stock Analysis page.