Gemdale Properties & Investment (HK:0535) has released an update.
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Gemdale Properties & Investment Corporation Limited, through its wholly-owned subsidiary VCIC, has entered into a guarantee agreement to support a joint venture in which it has a 50% stake. This guarantee, amounting to RMB287,500,000 plus interest, is part of a refinancing strategy for an existing loan and is deemed by the company’s directors to be on fair and reasonable terms, serving the interests of the company and its shareholders.
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