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Hongkong Chinese Limited Faces S$17.7 Million Damages Ruling

Story Highlights
  • Hongkong Chinese Limited operates in the financial sector with various subsidiaries.
  • The company faces S$17.7 million in damages but expects no material impact on its finances.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Hongkong Chinese Limited Faces S$17.7 Million Damages Ruling

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An announcement from Hongkong Chinese Limited ( (HK:0655) ) is now available.

Hongkong Chinese Limited announced that the General Division of the High Court of the Republic of Singapore has awarded damages of approximately S$17.7 million in favor of a bank, related to loans disbursed for purchasing flats in Singapore. The company stated that these damages will not materially affect its asset value, financial position, or results, although the final impact will be determined after an audit.

More about Hongkong Chinese Limited

Hongkong Chinese Limited is a company incorporated in Bermuda with limited liability, operating in the financial sector. It is listed on the Stock Exchange of Hong Kong and is involved in various financial operations through its subsidiaries.

YTD Price Performance: -5.26%

Average Trading Volume: 819,723

Technical Sentiment Signal: Sell

Current Market Cap: HK$539.5M

See more data about 0655 stock on TipRanks’ Stock Analysis page.

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