China New Town Development Co. Ltd. (HK:1278) has released an update.
China New Town Development Co. Ltd. has announced that its Joint Venture has failed to repay the Current Overdue Principal and associated penalty interest. Negotiations are underway with the Joint Venture and the Bank to formulate a repayment plan, and the company has promised to keep shareholders informed in accordance with Listing Rules. Investors are advised to exercise caution when trading the company’s shares.
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