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Global International Credit Group Ltd. ( (HK:1669) ) has provided an update.
Global International Credit Group Limited announced a new loan agreement where its subsidiary, GICL, will provide a secured loan of HK$35,000,000 to a customer for a 12-month term. This loan will be used to settle an outstanding principal from a previous loan agreement. The transaction, considered discloseable under Hong Kong’s Listing Rules, involves a first legal charge on a residential property and two car parking spaces as security, with an interest rate of 11.5% per annum. This move is part of the company’s ongoing operations in the money lending sector, potentially impacting its financial positioning and obligations under the Listing Rules.
More about Global International Credit Group Ltd.
Global International Credit Group Limited is engaged in the money lending business, focusing on providing property mortgage loans and personal loans in Hong Kong under the Money Lenders Ordinance.
Average Trading Volume: 168,711
Technical Sentiment Signal: Buy
Current Market Cap: HK$340M
For detailed information about 1669 stock, go to TipRanks’ Stock Analysis page.