Skyfame Realty (Holdings) Ltd (HK:0059) has released an update.
Skyfame Realty (Holdings) Ltd faces arbitration as the Shenzhen International Arbitration Court has ordered its subsidiaries to repay a significant loan of approximately RMB512 million, including principal and interests. The court confirmed the applicant’s mortgage rights over Shenzhen land and equity pledge, with the subsidiaries working towards a settlement. Shareholders and potential investors are cautioned to be prudent when dealing with the company’s securities amidst this ongoing financial challenge.
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