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CITIC says got court order

2014-06-11 10:27 Global Times Web Editor: Qin Dexing

CITIC Resources Holding, a subsidiary of State-owned CITIC Group, said Tuesday that it had received court orders issued by the city government of Qingdao to safeguard the metals it owns at the Qingdao Port, the latest move amid an ongoing investigation in a suspected fraud case in the port where metals were used as collateral for financing.

The State-owned company said in a filing to the Hong Kong Stock Exchange that the investigative process concerning its alumina and copper stored at the port so far was unknown.

It also said it is unable to assess the impact before receiving a clear result from the probe.

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