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Rifa Precision Machinery's wholly-owned Italian subsidiary, MCM Company, has announced its intention to file for bankruptcy due to persistent losses and a lack of liquidity. This move aims to mitigate further losses and operational risks. Over the past few years, MCM's loss ratio has escalated annually. With its assets and operations entirely based overseas and independent from Rifa Precision Machinery's domestic activities, the bankruptcy filing is expected to have minimal impact on the parent company's core domestic business. Nevertheless, Rifa Precision Machinery's investment capital and creditor rights in MCM may not be recoverable, with the exact financial impact pending confirmation from audit results. Furthermore, the court's acceptance and final ruling on the bankruptcy case remain uncertain.
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