Vibrant Group Ltd (SG:BIP) has released an update.
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Vibrant Group Ltd has announced an update on the legal proceedings involving its Chinese associate, Vibrant Pucheng Logistics, which has been ordered to repay over RMB 29.6 million to Zhejiang Province Zheshang Asset Management for outstanding debts. Despite the judgment, which includes additional interest and legal fees, the company states that the financial impact on the Group will not be significant. Vibrant Pucheng plans to appeal parts of the ruling and is seeking legal advice.
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