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| Tuesday, 17 March 2020, 18:19 HKT/SGT | |
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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 cindy.lung@sprg.com.hk
Carven Tsui (852) 2864 4859 carvensm.tsui@sprg.com.hk
Desiree Shung (852) 2114 2200 desiree.shung@sprg.com.hk
Topic: Press release summary
Sectors: Daily Finance, Daily News, Construct, Engineering
https://www.acnnewswire.com
From the Asia Corporate News Network
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