【Shihlin Electric & Engineering Corp.】Announcement by Subsidiary Global Tek GmbH Regarding Improvement Plan for Exceeding Loan Limit to Others
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Shihlin Electric & Engineering Corp.'s subsidiary, Global Tek GmbH, announced an improvement plan for exceeding its loan limit due to losses from an invested company. The loan of EUR 110,000 to Formtechnology GmbH, which has filed for bankruptcy, has been fully provisioned as bad debt, and the liquidation process is ongoing.