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Global International Credit Group Ltd. ( (HK:1669) ) has shared an update.
Global International Credit Group’s subsidiary GICL has extended two new secured loans totaling about HK$63.5 million to two related customers, each with a 12 month term and a 12% annual interest rate, backed by guarantees and a first legal charge over a Hung Hom residential property. One of the new loans will be used to fully settle an existing HK$29.5 million facility to the same borrower, and the combined size of the transactions triggers discloseable transaction status under Hong Kong listing rules, underscoring the materiality of these credit exposures for the group’s loan book and regulatory reporting obligations.
More about Global International Credit Group Ltd.
Global International Credit Group Ltd. operates a licensed money lending business in Hong Kong, focusing on property mortgage loans and personal loans under the Money Lenders Ordinance. Its lending operations are conducted primarily through indirect wholly owned subsidiary Global International Credit Limited (GICL), which structures secured loans backed by real estate and guarantees.
Average Trading Volume: 98,450
Technical Sentiment Signal: Buy
Current Market Cap: HK$440M
Learn more about 1669 stock on TipRanks’ Stock Analysis page.