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UTILITIES | Staff Reporter, Singapore

China Environment slapped with letter of demand for $11.5m repayment

Bank of China charges them for overdue interest, for one.

China Environment announced that wholly-owned subsidiary, Fujian Dongyuan Environmental Protection Co., has received a letter of demand dated Oct 12 from the Bank of China claiming the repayment of RMB56.1mil ($11.5mil) in overdue interest and loan principal for a working capital loan.

China Environment is currently considering various options in relation to the demands from banks and will update shareholders accordingly. 

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