IDT International Limited’s Subsidiary Faces Bankruptcy Petition

IDT International Limited (HK:0167) has released an update.

IDT International Limited faces a bankruptcy petition against its subsidiary, IDT Shenzhen, due to unpaid salaries. The subsidiary, which has not been operational since March 2022, will no longer be under the company’s control following the appointment of a bankruptcy administrator. Despite this, IDT International assures that there is no material adverse impact on its overall business.

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