SINGAPORE (Dow Jones)--Singapore-listed Bio-Treat Technology Ltd. (B22.SG) pledged all of its assets to a lender Dec. 9 after defaulting on a HK$360 million loan facility.
Bio-Treat, in a filing with the Singapore Exchange Friday, said its assets were pledged in favour of Precious Wise Group Ltd., which was once a substantial shareholder.
The Chinese waste and wastewater-treatment firm said a fixed-first charge over the shares it holds in several units has been created for Precious Wise, and that all dividends, interest and distribution related to the shares will be given to Precious Wise.
Bio-Treat said it is “working to rectify the default” but didn’t provide details.
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