UniFiberSys: Co is in default of a US$35m loan by Asia Star Fund (ASF) after it failed to fulfill certain conditions by 12 June, already an extended date of fulfillment. Co is currently in negotiation with ASF to seek a waiver of the default and further extend the date to fulfill the conditions...
The use of the loans was used to pay off existing creditors previously. In most recent Mar-end results, co posted a quarterly loss of US$4.5m with current net liabilities of $68.6m. Net assets remained positive at US$106.1m
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