China A&A (0232) said its wholly owned subsidiary CAT US reached a settlement agreement with the U.S. Department of Justice on July 31 (U.S. Central Daylight Time), according to Ming Pao.

The agreement requires CAT US to pay nearly $11.7727 million, or about HK$91.8269 million, plus interest calculated at an annual rate of 4% from June 23 to the payment date. It also includes a provision releasing CAT US from any future civil liability or compensation arising from issues related to a PPP loan under the False Claims Act.