Figtree Holdings Ltd. (SG:5F4) has released an update.
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Figtree Holdings Limited has disclosed that Vibrant Pucheng, its 20% owned associate, is facing legal action from a Chinese bank over unpaid loan facilities totaling approximately RMB 30.47 million. Despite this, the Group remains optimistic as the property valuation of the collateral far exceeds the claim amount, indicating no significant financial impact is expected for the financial year ending in December 2024. The company is in the process of seeking legal advice and will keep its shareholders updated on any significant developments.
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