HK FINANCE GP (01273.HK): HKD 13 Million Loan at 1.5% a Month Secured by Conduit Road Flats

NewTimeSpace News: On 12 November 2026, HK FINANCE GP (01273.HK) announced that its indirect wholly-owned subsidiary Hong Kong Finance Company Limited, as lender, entered into a new loan agreement on 11 November 2026 with Customer J (Sun Zhenan), Customer K (Sun Xiaojie) and Customer L (Lin Xiwen) to grant a new loan with a principal of HKD 13,000,000.

The new loan bears interest of 1.5% per month, or 18.0% per annum, and runs for 11 months from the drawdown date, with interest payable monthly and principal repayable at maturity. It is secured by a second legal charge over two residential properties and two car parking spaces in Conduit Road, Hong Kong, which an independent property valuer valued at about HKD 169,000,000 in total as at 29 October 2026. The proceeds will be used to repay the principal of Loan A in full.

Hong Kong Finance granted prior loans totalling HKD 70,000,000 to the borrowers in the 12 months before the new loan, namely HKD 13,000,000 under a second mortgage loan dated 11 February 2026, HKD 43,000,000 under a first mortgage loan to Customers J and K dated 30 March 2026, HKD 4,000,000 under a second mortgage loan dated 29 May 2026 and HKD 10,000,000 under a legal charge loan dated 30 October 2026. Aggregated under Rule 14.22, applicable percentage ratios exceed 5% but are below 25%, making the new loan a discloseable transaction under Chapter 14.

The board said the loan is financial assistance in the ordinary and usual course of business on normal commercial terms under the Group's credit policy, and that the terms are fair and reasonable and in the interests of the Company and shareholders given the borrowers' financial background and the expected interest income. The Group will fund the loan from general working capital.