Zitong Financial App News, Global Credit Group (01669) issued an announcement that on August 8, 2023, Global Credit entered into a supplementary letter to the credit financing letter with borrowers, according to which the credit financing letter must be supplemented and revised to reduce the amount of credit financing from HK $50 million to HK $30 million, effective from the date of the supplementary credit financing letter.
The terms of the supplementary credit financing letter were determined after fair negotiation between Global Credit and the borrower. Taking into account the current market conditions and the Group's general working capital, changes in the amount of credit financing will reduce the Group's credit risk to borrowers and increase the Group's liquidity.