Momentum Financial Holdings Limited (HK:1152) has released an update.
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Momentum Financial Holdings Limited has issued a warning of potential inability to repay a demanded HK$20.3 million outstanding sum on a promissory note following a significant decrease in net profit. The company’s financial strain is evidenced by substantial outstanding liabilities, including trade payables and loans, against limited cash reserves. Trading of the company’s shares, which was suspended, is set to resume following this disclosure.
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