Dragon Group International Limited (SG:MT1) has released an update.
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Dragon Group International Limited has reported that its associate company, Eocell, is facing financial distress with missed payroll obligations and a workforce furlough. Despite previous loans from Dragon Group’s management, Eocell remains insolvent and is exploring alternative financing options. In response, Dragon Group is assessing the situation with Eocell’s management and considering legal routes to recover the outstanding loans.
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