Red Star Macalline Group Corporation Ltd Class H (HK:1528) has released an update.
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Red Star Macalline Group Corporation Ltd is considering waivers for several voluntary undertakings by its major shareholders and former de facto controller, aimed at reducing and regulating related party transactions. The proposed changes, which seek to relax previous commitments such as avoiding unfair transactions and not misusing company assets, have been approved by the company’s board and are awaiting further review at an extraordinary general meeting. These undertakings are significant as they relate to maintaining fair market practices and transparent financial reporting.
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