Hong Kong Finance Group Ltd. ( (HK:1273) ) has issued an announcement.
Hong Kong Finance Group Limited announced the provision of a new loan agreement amounting to HK$18,000,000 to a group of borrowers. This loan is intended to settle a previous loan of the same amount, with the new agreement secured by a second mortgage on a residential property in Kowloon. The company has assessed the credit risk as manageable due to the prime location of the collateral, the solid financial background of some borrowers, and their satisfactory repayment history. This transaction is considered discloseable under the Listing Rules due to its size relative to the company’s financial metrics.
More about Hong Kong Finance Group Ltd.
Hong Kong Finance Group Limited operates in the financial services industry, providing financial assistance and loan services. The company focuses on offering loans and financial solutions to various customers, leveraging its expertise in credit risk assessment and collateral management.
YTD Price Performance: 15.15%
Average Trading Volume: 118,193
Technical Sentiment Signal: Sell
Current Market Cap: HK$157.7M
Learn more about 1273 stock on TipRanks’ Stock Analysis page.