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Ever Reach Group Holdings Co., Ltd. ( (HK:3616) ) has issued an update.
Ever Reach Group Holdings Co., Ltd. has announced the findings of an internal control review conducted by Ranger Advisory Co. Limited. The review identified a breach of terms under loan agreements where development loan funds were improperly retained by the Group. In response, the company has completed remediation measures, including appointing designated personnel to oversee loan agreements and implementing a Loan Monitoring Policy to ensure compliance. These actions aim to strengthen the company’s internal controls and restore confidence among stakeholders.
The most recent analyst rating on (HK:3616) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Ever Reach Group Holdings Co., Ltd. stock, see the HK:3616 Stock Forecast page.
More about Ever Reach Group Holdings Co., Ltd.
Ever Reach Group Holdings Co., Ltd. is a company incorporated in the Cayman Islands, operating within the financial sector. The company is primarily involved in financial services, with a focus on managing and overseeing financial transactions and compliance with loan agreements.
Technical Sentiment Signal: Hold
Current Market Cap: HK$312M
See more insights into 3616 stock on TipRanks’ Stock Analysis page.