China International Holdings unit taken to court over repayment of alleged loan

CHINA International Holdings' 55 per cent-owned unit faces a court claim for the repayment of an alleged loan, the group said in a Singapore Exchange filing Tuesday.

It said Yichang Xinshougang Property Development had received a notice from the Yichang city intermediate court to attend a hearing for a claim filed by Yiling District Urban Infrastructure Investment.

The claimant is seeking the repayment of an alleged loan of about 105 million yuan (S$21.27 million) and accrued interest of around 52 million yuan, China International said, adding that its unit was seeking advice on the notice.