GREENHEART GP(00094.HK): Subsidiary’s HK$400‑Million Facility Matures Unrepaid; Lender to Pursue Recovery Actions
NewTimeSpace News: Greenheart GP (00094.HK) released an inside‑information announcement on 5 August 2026. Since 2008, Silver Mount, the Company’s wholly‑owned subsidiary, has provided a revolving facility of up to HK$400 million to Lvsen Resources, a non‑wholly‑owned subsidiary, to support forestry operations in Suriname. Silver Mount holds approximately 60.39% equity interest in Lvsen Resources and Newforest holds the remaining 39.61%.
Due to sustained long‑term losses from operations in western Suriname, the management of Lvsen Resources has resolved to discontinue such business and divested certain subsidiaries with net liabilities. As at the date of the announcement, the outstanding principal balance under the facility is approximately HK$396.4 million together with accrued interest of about HK$170.9 million. The facility matured on 4 August 2026 and Lvsen Resources has not made repayment.
Silver Mount notified Lvsen Resources prior to maturity of its intention not to extend the loan tenure. The outstanding amount constitutes an event of default. Silver Mount will continue to assess and take all feasible recovery actions, including issuing repayment demands, seeking legal advice, exercising creditor enforcement measures and, if necessary, procuring insolvency and liquidation proceedings against Lvsen Resources.
As Lvsen Resources is a subsidiary of the Company, the loan represents an intra‑group balance. The Board does not anticipate any material adverse impact on the Group’s current business operations.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
