Tianjin Development Secures HK$100 Million Revolving Loan Tied to State Majority Control
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Tianjin Development Holdings has secured a HK$100 million revolving loan from a bank, with no fixed term and subject to lender review. A key condition is that Tianjin SASAC must maintain over 50% ownership in the company, emphasizing the importance of state control. Breaching this condition could lead to loan suspension or repayment demands, impacting funding stability. Tianjin Development is listed on the Hong Kong Stock Exchange and is controlled by the Tianjin SASAC, which holds a majority stake through subsidiaries.
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