HK$98.4 mln assets of Fujian Group under receivership

Fujian Group Ltd. (0181) said that five of its Hong Kong properties worth a total of HK$98.4 mln had been put under receivership. The properties represent about 22% of the group's total fixed assets as of September.The receivership covers all the leases and income of the properties concerned, and if the creditors were to force the sale of such properties, the company could incur a further loss from the sales.

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