Yixing City Futao Rural Micro Credit

Sunvic Chemical racks up $44 mil in corporate loan claims, says cash flow may be affected

SINGAPORE (Jan 11): Sunvic Chemical Holdings says two of its subsidiaries, Yixing Yinyan Import & Export Co and Jiangsu Jurong Chemical, have each received letters of demand regarding corporate loans amounting to about RMB 222.5 million ($44.3 million).

The first claim was lodged by Yixing City Futao Rural Micro Credit against Sunvic’s Yixing Yinyan, which acted as the corporate guarantor for Jiangsu Donglai Real Estate Development for an RMB 180 million loan from Yixing City Futao.

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