United Food Holdings Ltd. (SG:AZR) has released an update.
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United Food Holdings Limited has engaged in a significant debt restructuring initiative which involves various parties, including Tangshan Yuda Trading Co. Ltd., and Hebei Xingrun Shengwu Keji Gufen Co, Ltd. (HBXR), aimed at addressing HBXR’s trade receivables owed by Kangweijian. As part of the restructuring, a Payment Agreement has been established, mandating that outstanding debts of RMB42,873,500 plus interest be repaid by 19 August 2024, with provisions for extended repayment and increased interest rates if initial obligations are not met.
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