Guangzhou R&F Properties Faces 1.9 Billion Yuan Enforcement Order
MT Newswires Live
Sep 22
Guangzhou R&F Properties (HKG:2777) said it faces an enforcement order involving 1.85 billion yuan, according to a Monday Hong Kong bourse filing.
The company also said it and Chairman Li Sze Lim have recently been subject to restrictions on high-level consumption.
The restrictions have not had a significant adverse impact on daily operations or debt-repayment ability, the company said.
Separately, a Chongqing court ordered a Guangzhou R&F subsidiary to repay 303.4 million yuan in principal, plus interest and related costs, in a contract dispute.
Guangzhou R&F said it is seeking to raise funds through multiple channels to repay the debt and reach a settlement with holders.
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