Kinrei-KY: Announcement by the Company in Accordance with Article 22, Paragraph 1, Subparagraph 1 of the Regulations Governing the Lending of Funds and Endorsements/Guarantees by Public Companies
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Kinrei-KY announced that the balance of funds lent to its subsidiary, Chang Tai Jin Ping Guo Industrial Co., Ltd., has reached 25.80% of the company's net value. This is due to the reclassification of advance payments for land and factory construction into other receivables, and considering the subsidiary's small revenue, an increase in the loan limit is being considered as immediate capital injection for repayment is difficult.