Elate Holdings Resolves Payment Dispute with Aspect Group Amidst Madagascar Instability
Elate Holdings Limited (HK:0076) announced a resolution to a payment dispute with Aspect Group Limited (AGL) over unpaid obligations for graphite ore. Amidst political instability in Madagascar, Elate rejected AGL's proposal for payment deferral and opted to settle using AGL's collateral. Both companies aim to maintain their trading relationship. The latest analyst rating for Elate Holdings is a Hold with a price target of HK$0.50, and the company has a market cap of HK$116.9M.
Elate Holdings Limited ( (HK:0076) ) has shared an announcement.
Elate Holdings Limited announced that Aspect Group Limited (AGL) failed to fulfill its payment obligations for the purchase of graphite ore, leading Elate to issue a default notice. Due to political instability in Madagascar, where the graphite was sourced, Elate rejected AGL’s proposal for a payment deferral or return of unused ore. Instead, both parties agreed to settle the payment using the collateral provided by AGL, and they plan to continue their trading relationship amicably.
The most recent analyst rating on (HK:0076) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Elate Holdings Limited stock, see the HK:0076 Stock Forecast page.
More about Elate Holdings Limited
Elate Holdings Limited is a company incorporated in Hong Kong, primarily involved in the trading of graphite ores. The company focuses on the sale and management of graphite products, with a market focus that includes international trading partners.
Average Trading Volume: 2,959,598
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$116.9M
Find detailed analytics on 0076 stock on TipRanks’ Stock Analysis page.
