China Environment, a supplier of industrial gas cleaning equipment, says it may have to raise additional capital if its customers fail to pay up on time due to current conditions.
Credit for China Environment's customers is currently tight and work progression is slow, the company adds.
"Collection of the group's trade receivables from its customers may be slow or not on time as and when they fall due, and the group may require to seek fresh funds either from existing shareholders, new private placements, or other debt financing methods such as issue of preference shares, notes or bonds," the company says.
The announcement came a week after the company said a wholly owned subsidiary in China faced loan repayment demands from a branch of Citic Bank. China Environment says on Monday that working capital after a proposed $3.2 million share placement will be enough to meet current requirements.
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Credit for China Environment's customers is currently tight and work progression is slow, the company adds.
"Collection of the group's trade receivables from its customers may be slow or not on time as and when they fall due, and the group may require to seek fresh funds either from existing shareholders, new private placements, or other debt financing methods such as issue of preference shares, notes or bonds," the company says.
The announcement came a week after the company said a wholly owned subsidiary in China faced loan repayment demands from a branch of Citic Bank. China Environment says on Monday that working capital after a proposed $3.2 million share placement will be enough to meet current requirements.
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