Man Sang International (HK:0938) has released an update.
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Man Sang International Limited faces legal proceedings regarding a substantial loan default of approximately RMB1,212 million, amid negotiations for more favorable repayment terms. Despite the ongoing court case and pandemic-related business challenges, the company remains optimistic about its financial position and ability to settle the dispute, highlighting its property’s draft valuation of RMB2.21 billion and additional unutilized loan facilities.
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