Zhitong Finance App News, Des Holdings (08437) announced that on November 11, 2022, the company and its three wholly-owned subsidiaries in Singapore (i.e. Dermatology & Surgery Clinic (Orchard) Pte Ltd, Dermatology & Surgery Clinic Pte Ltd, and Dermatology & Surgery Clinic (Shenton) Pte Ltd., collectively known as Dermatology & Surgery Clinic (Shenton) Pte Ltd. (Relevant subsidiaries) received three reminder letters from UOB of Singapore (UOB). Since UOB believes that the relevant subsidiary has violated the terms stipulated in the UOB loan letter of August 19, 2020, the relevant subsidiary must pay outstanding loans totaling about S$2.28 million and interest payable by November 18. Otherwise, UOB will take legal action against relevant subsidiaries and companies acting as guarantors as borrowers.

The company has dispatched a working group to assist relevant subsidiaries in handling claims that creditors may file after the High Court of Singapore rejected the application for a suspension of repayment order on November 9, including but not limited to the repayment claims in the UOB claim letter mentioned above. The company's basic view and goal is to actively engage and negotiate usefully with banks and important creditors to seek solutions acceptable to all parties, not only to facilitate the sustainable operation of relevant subsidiaries, but also to protect the interests of all creditors to the greatest extent possible.

Currently, the business of the relevant subsidiaries mentioned above is operating as usual. As of the date of this announcement, there were no liquidation applications for relevant subsidiaries.