English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 17 March 2020, 18:19 HKT/SGT
Share:
Asia Allied Infrastructure Concludes HK$1.25 Billion 3-year Term Loan Agreement
Solid business foundation in Hong Kong;
Winning long-term trust and support from banking community

HONG KONG, Mar 17, 2020 - (ACN Newswire) - Asia Allied Infrastructure Holdings Limited ("Asia Allied Infrastructure" or "the Group") (stock code: 00711) is pleased to announce today that it has entered into a HK$1.25 billion term loan agreement with 5 banks. Part of the loan will be used to restructure the loan portfolio of the Group, while the rest will be used to support future operations and development. This facility will lower the overall finance cost of the Group, enhance its financial flexibility and funding capability.

The 3-year facility of HK$1.25 billion carrying an interest rate of HIBOR+1.65% was arranged by The Hongkong and Shanghai Banking Corporation Limited, China Construction Bank (Asia) Corporation Limited, CMB Wing Lung Bank Limited, Chong Hing Bank Limited and The Bank of East Asia, Limited.

Mr. Dominic Pang, Chairman of Asia Allied Infrastructure, said, "We would like to express our sincere gratitude to the banks for their trust and support to AAI. The new loan facility shows the banking community's confidence in the Group's solid business strategies in recent years. Though operating environment remains challenging due to factors including the recent outbreak of the coronavirus, we are confident that our long established business foundation will enable us to overcome these challenges. Building on AAI's industry experience and a healthy financial position, we will continue to actively pursue set business strategies to capture market opportunities, enhance stakeholder value and delivery satisfactory returns to shareholders."

Asia Allied Infrastructure Holdings Limited (stock code: 00711.HK)
Asia Allied Infrastructure Holdings Limited ("Asia Allied Infrastructure") is listed on the Main Board of the Hong Kong Stock Exchange under stock code 00711. The Group operates businesses such as construction engineering and management, construction consultancy, property development and assets leasing, security and facility management, tunnel management, construction financing, premium safe deposit box leasing as well as an online construction materials procurement and management platform and a quality international education platform. Its subsidiary Chun Wo is a renowned construction contractor and property developer in Hong Kong. Chun Wo's solid construction experience and professional capabilities have enabled the Group to seize suitable development opportunities, allowing the Group to enhance its overall profitability and investment value.

For press enquiries:
Strategic Financial Relations Limited
Cindy Lung (852) 2864 4867 [email protected]
Carven Tsui (852) 2864 4859 [email protected]
Desiree Shung (852) 2114 2200 [email protected]


Topic: Press release summary
Sectors: Daily Finance, Daily News, Const/Eng
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
Honda Exhibits World Premiere of "Honda SUV e:concept" at the 2020 Beijing International Automotive Exhibition (Auto China 2020)  
Sept 28, 2020 09:22 HKT/SGT
Hitachi ABB Power Grids Energizes First Phase of Raigarh-Pugalur 800 kV UHVDC Transmission Link  
Sept 28, 2020 08:18 HKT/SGT
Eisai: Jyseleca (Filgotinib) Approved in Japan for Rheumatoid Arthritis  
Sept 28, 2020 08:04 HKT/SGT
Zijin Mining's Announcement in relation to the Environmental, Social and Governance Framework and Formulation of 8 Policy Statements  
Sept 28, 2020 07:00 HKT/SGT
CMEE 2020 Promotes Development and Cooperation in Marine Economy  
Sept 27, 2020 16:00 HKT/SGT
Nordic Cosmetics Launches Chinese Flagship CBD Store on Tmall  
Sept 26, 2020 17:00 HKT/SGT
Oil Price: Ahmed Maiteeq is in Turkey on a working visit after the signing of an agreement that unblocked Libyan oil  
Sept 26, 2020 16:00 HKT/SGT
SOCAR as a Main Pillar of Azerbaijani Statehood  
Sept 26, 2020 06:00 HKT/SGT
Moonstake Mobile Wallet App Significantly Updated - Now Supporting ADA Staking  
Sept 25, 2020 18:00 HKT/SGT
Mitsubishi Power Expands Promotion of Proprietary Boiler Smart Inspection Service Package for Managing Power Generation Facilities  
Sept 25, 2020 15:15 HKT/SGT
More Press release >>
 Events:
More events >>
Copyright © 2020 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6653 1210 | Tokyo: +81 3 6859 8575