Vibrant Group Ltd (SG:BIP) has released an update.
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Vibrant Group Limited has reported that its associated company, Vibrant Pucheng, is facing legal action from a Chinese bank over a failed loan repayment totaling over RMB 30 million, including principal, interest, and fees. The company is currently seeking legal advice and does not foresee these proceedings to materially impact its financial position, as the amounts in question have been recorded in its financial statements. Shareholders have been cautioned to seek professional advice before making any decisions regarding their securities in the company.
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