Tianjin Development Holdings (HK:0882) has released an update.
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Tianjin Development Holdings has secured a HK$100 million revolving loan facility with a bank, requiring the Tianjin Municipal People’s Government to maintain a minimum 50% shareholding in the company. The agreement, which lasts for 12 months, ensures that the company remains under the management control of Tsinlien Group Company Limited. Any breach of these conditions allows the lender to enforce its rights under the loan agreement.
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