China Yuanbang Property's (SGX:BCD) indirect 100% subsidiary, Guangdon Yuangbang Real Estate, received a notification from Guangzhou Assets Management requesting for the immediate repayment of outstanding dues, according to a filing with the Singapore Exchange on Monday.
The lender is requesting for the payment of a loan balance worth 182.0 million yuan along with default interest of 25.7 million yuan.
The property management company is now in discussions with the lender to work out a revised repayment schedule for the loan.
Meanwhile, the board has applied for a voluntary suspension of trading in its shares until a revised repayment schedule is agreed.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.