Tianjin Pharma Da Ren Tang Plans Up to 2.46 Billion Yuan Guarantees for Affiliates

MT Newswires

03-31

Tianjin Pharmaceutical Da Ren Tang Group (SGX:T14, SHA:600329) plans to provide guarantees of up to a total of 2.46 billion yuan to affiliates Tianjin Pharmaceutical Group Taiping Medicine and Tianjin Zhongxin Medicine, according to a Friday filing on the Singapore Exchange.

The proposed guarantees, subject to shareholder approval, align with the company's 43.35% stake in Taiping Medicine.

The move aims to support the two firms' financing needs, but investors are cautioned as both entities have asset-liability ratios exceeding 70%.

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