Wilton Resources Reports Gain After Loan Default

Wilton Resources Corporation Limited (SG:5F7) has released an update.

Wilton Resources Corporation Limited has updated stakeholders on its subsidiary’s share sale and buyback agreements, following a default by the lender. The company’s subsidiary, WRH, had to write off a loan of Rp 46.4 billion and recognized a gain of Rp 41.5 billion after legal attempts to recover the shares used as loan security failed. This financial maneuvering follows a series of secured short-term loans by WRH, which were detailed in prior announcements.

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