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Hong Kong Finance Group Unit Grants HK$22 Million Loans

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Hong Kong Finance Group (HKG:1273) said its indirect wholly owned subsidiary, HK Finance, agreed to provide two loans totaling HK$21.7 million to three independent third-party borrowers.

A HK$16.5 million loan carries interest of 13.2% per year for 12 months and is secured by first mortgages over two residential properties in Sha Tin and Shau Kei Wan, according to a Hong Kong bourse filing on Wednesday.

A second HK$5.2 million loan carries interest of 18% per year for 12 months and is secured by second mortgages over four residential properties in Sha Tin, Shau Kei Wan and Kowloon.

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