SINGAPORE (July 12): Swing Media Technology Group on Tuesday night said two of its subsidiaries have received demands issued by banks for repayment of loans due and owing.

SMI and ST, wholly-owned subsidiaries of Swing Media, each received statutory demands from a bank requesting payment of a sum amounting to HK$7.1 million and HK$20.65 million due and owing respectively.

Separately, the subsidiaries also received statutory demands from another bank requesting payment of a sum amounting to HK$30.5 million due and owing.

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