Two subsidiaries of China International (SGX:BEH), CIHL (Tainjin) City Development and Yichang Zhongjia Xinye Asset Management, received first instance judgment from a Chinese court, ordering them to bear joint and several liability for debts owed to Beijing Annaige Decoration Engineering.
The court has ordered CIHL liable for up to 11 million yuan and Yichang Zhongjia liable for up to 739,074 yuan for obligations arising from unpaid debts to Yichang Zeyou Real Estate Development.
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