Great Wall Pan Asia Holdings (DE:MPY) has released an update.
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Great Wall Pan Asia Holdings Limited has announced the execution of two loan agreements for its subsidiary, Ray Glory Limited, totaling up to HK$1.7 billion with a 1-year and 5-year term, contingent on control by Great Wall International. The company acknowledges a breach of timely disclosure under the Listing Rules, attributing it to oversight, and is taking measures to enhance internal controls to prevent future lapses. Shareholder disclosures regarding these loans will be included in future financial reports as long as the conditions persist.
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