Junko Holdings (08035) issued an announcement that the life insurance policy has been withdrawn. The Group has received cash deposits of approximately HK $117 million when the life insurance policy was withdrawn on 13 September 2023.
The Group considers that the withdrawal of the Life Insurance Policy will improve the Group's liquidity because the Group will receive a net cash inflow of about HK $13.7 million after receiving deposits deposited in the Life Policy and repaying the loans of the relevant banks. At the same time, as the Group's borrowing costs in recent years are higher than the real interest rates of life insurance policies, the Group can save financing costs.