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Apex Ace Holding Ltd. ( (HK:6036) ) has issued an update.
Apex Ace Holding Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates through a group structure, though this announcement does not detail its specific industry segment or core business lines. The company is led by Chairman and CEO Lee Bing Kwong alongside a board comprising executive, non-executive and independent non-executive directors.
The company has issued a supplemental announcement regarding a previously disclosed subscription of a key man insurance policy tied to a revolving trade loan facility. It clarifies that the maximum monetary benefit to the group under the policy could reach about US$20.4 million (approximately HK$159.2 million) after 28 years, combining guaranteed and optimistic non-guaranteed cash values. Apex Ace notes that this potential payout would not fully cover the loss if the entire revolving trade loan facility were drawn, underscoring that the insurance subscription is primarily a compliance requirement under the facility letter rather than a comprehensive risk-coverage tool. The clarification does not alter other terms of the original transaction disclosure, suggesting limited immediate operational impact but providing greater transparency to shareholders on the scale and purpose of the insurance arrangement.
The most recent analyst rating on (HK:6036) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Apex Ace Holding Ltd. stock, see the HK:6036 Stock Forecast page.
More about Apex Ace Holding Ltd.
Apex Ace Holding Limited is a Cayman Islands-incorporated company listed on the Hong Kong Stock Exchange. The group operates through its subsidiaries, though this announcement does not specify its industry or principal products and services.
Average Trading Volume: 351,967
Technical Sentiment Signal: Sell
Current Market Cap: HK$456.9M
For a thorough assessment of 6036 stock, go to TipRanks’ Stock Analysis page.