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Sino Grandness still negotiating to extend repayment of loan

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Vivienne Tay

Vivienne Tay

Published Thu, Feb 7, 2019 · 09:50 PM

Singapore

CHINA-BASED canned vegetable and fruits producer Sino Grandness Food Industry Group said it is still in negotiation with creditor and shareholder Soleado Holdings to extend the repayment of some US$22 million in debt.

In a Singapore Exchange filing on Thursday, the company said it is currently preparing to repatriate funds from China by way of dividend, a move which it said requires Chinese regulatory approval. It added it would make the necessary announcement as and when there is any material development.

Sino Grandness

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