Global Credit Group (01669) announced that on November 21, 2023, the company's indirect wholly-owned subsidiary...
According to the Zhitong Finance App, Global Credit Group (01669) announced that on November 21, 2023, the company's indirect wholly-owned subsidiary Global Credit (as a lender) and Client A (Fanjing Limited) (as a borrower) entered into Loan Agreement A and Loan Agreement B with Client A (Fanjing Limited) (as a borrower). Global Credit agreed to grant two secured loans with a total amount of HK$7.333 million for a period of 12 months. On the same day, Global Credit (as a lender) and Client B (Castlehead Company Limited) (as a borrower) entered into a loan agreement C, and Global Credit agreed to grant a secured loan of HK$4,5111,000 for a period of 12 months.
Taking into account the Group's main business activities, the granting of new loans and prior loans to such customers is part of the Group's general and day-to-day business.
The terms of the new loan agreement and the previous loan agreement were agreed upon by Global Credit after fair negotiations with such clients. The directors considered that the grant of new loans and previous loans was for the Group to provide financial support as defined in the listing rules. The directors believed that the terms of the new loan agreement and the previous loan agreement were made in accordance with normal commercial terms and in accordance with the group's credit policy. Considering the ideal financial background of such customers and the expected interest income received as stable income and cash flow, the directors believe that the terms of the new loan agreement and the previous loan agreement are fair and reasonable, and that the conclusion of the new loan agreement and the previous loan agreement conforms to the overall interests of the company and its shareholders.