Rimbaco Group Secures Major Property Settlement Deal

Rimbaco Group Global Limited (HK:1953) has released an update.

Rimbaco Group Global Limited has entered into a significant settlement agreement with Crimson Omega, resulting in the acquisition of valuable lands and apartments in Pulau Pinang. The deal, valued at over RM20 million, is a major financial maneuver to offset receivables owed by Crimson Omega. This transaction is classified as discloseable under Hong Kong’s Listing Rules, reflecting its substantial impact on Rimbaco’s portfolio.

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