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Midas hit by letter of demand over 400m yuan loan

Loan to subsidiary Jilin Midas Aluminium Industries is guaranteed by Midas, former exec chairman and a third company


TROUBLED railway parts maker Midas Holdings has received a letter of demand over a 400 million yuan (S$83.3 million) loan to its subsidiary that was guaranteed by Midas, its former executive chairman Chen Wei Ping, and a third company, North East Industries Pte Ltd.


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