News report denied

2008-12-30  |     NEWSPAPER EDITION

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NINE Dragons Paper (Holdings) Ltd, China's biggest maker of containerboard used in packaging, denied media reports that it would declare bankruptcy at year-end, and said its finances are fine.

The Guangzhou-based Times Weekly reported last Thursday that an unidentified Web posting dated November 1 cited an unidentified Nine Dragons official as saying the company would declare bankruptcy because it couldn't repay a 500-million-yuan (US$73 million) loan.


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