China-based China Resources Cement has been granted a US$64.49 million (HKD 500 million) loan, with the repayment to the granting bank to be settled within three years. Following the approval, the cement firm will be given one-month withdrawal period. Under the loan agreement, the parent firm of China Resources Cement, China Resources, is required to hold at least 51% issued share capital of its cement subsidiary. A breach to the contract will be taken if China Resources has failed to do.
China-based China Resources Cement has been granted a US$64.49 million (HKD 500 million) loan, with the repayment to the granting bank to be settled within three years. Following the approval, the cement firm will be given one-month withdrawal period. Under the loan agreement, the parent firm of China Resources Cement, China Resources, is required to hold at least 51% issued share capital of its cement subsidiary. A breach to the contract will be taken if China Resources has failed to do.
