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An update from Pan Asia Data Holdings, Inc. ( (HK:1561) ) is now available.
Pan Asia Data Holdings Inc. has disclosed further details on a winding-up petition filed against it, revealing that the petitioner is claiming an alleged outstanding sum of HK$6.18 million arising from a series of working capital loan agreements entered into in 2021, out of a total of HK$40 million advanced. The company disputes liability for the alleged principal and accrued interest and stresses that the petitioner is an independent third party with no other material relationship beyond the lender-borrower arrangement. Pan Asia Data has not sought a court validation order for share transfers, noting no legal requirement or shareholder request to do so at this stage, but the board will continue to monitor the case, seek legal advice, and consider contesting the petition or entering discussions with the petitioner to protect the interests of the company and its shareholders.
The most recent analyst rating on (HK:1561) stock is a Hold with a HK$0.06 price target. To see the full list of analyst forecasts on Pan Asia Data Holdings, Inc. stock, see the HK:1561 Stock Forecast page.
More about Pan Asia Data Holdings, Inc.
Pan Asia Data Holdings Inc., incorporated in the Cayman Islands and listed in Hong Kong, operates in the broader data and technology sector and relies on external financing, including working capital loans, to support its operations and liquidity needs.
Average Trading Volume: 560,716
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$69.25M
For detailed information about 1561 stock, go to TipRanks’ Stock Analysis page.