Grand Ming Group faces loan covenant breach, seeks waivers

Grand Ming Group Holdings Limited announced that it has breached certain financial covenants under its Loan Facilities, according to its audited annual results for the year ended March 31, 2025. The breach entitles Lenders to declare outstanding amounts immediately due and payable. As of the date of the announcement, the aggregate outstanding principal amount of the Loan Facilities is approximately HKD4,795 million. The Group has already obtained waivers from certain Lenders for borrowings of approximately HKD2,747 million and is continuing discussions with other Lenders to secure further waivers. The company assures that it has not received any demand for immediate repayment of the loans and will provide further updates on the Loan Facilities and waiver status as appropriate. Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.