KUALA LUMPUR (Jan 10): Xidelang Holdings Ltd said it has been notified of several litigation matters against its China based subsidiary, Fujian Province Jinjiang City Chendai HongPeng Footwear Manufacturing Co Ltd, but they have been resolved.

In a filing today, the shoe manufacturer said the board was made aware of five litigation claims to HongPeng Footwear through the China Judgments Online website.

For the first case, HongPeng had in April 2016 instituted a claim against the defendant Ding HePing for failure to vacate a parcel of land which belonged to HongPeng. The defendant has since agreed to vacate and bear all legal costs, withdrawing the claim on the next day.

Xidelang said the board is of the opinion that the litigation matter was not material to the group, as it arose from the ordinary course of business.

The remaining four cases involved the claim by China Construction Bank Corporation on Jinjiang Dasen Garment Co Ltd for default of loan repayment, of which HongPeng was a party to.

Xidelang said the cases would not have any material and adverse effect on the financial position of the group, as the defendant has since repaid in full the outstanding loans to China Construction Bank, and subsequently the litigation matters have been withdrawn.

Shares of Xidelang closed unchanged today at 12 sen, giving the group a market value of RM216.59 million. Some 15.61 million shares were traded.