HSIN CHONG GROUP HOLDINGS LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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(Incorporated in Bermuda with limited liability)
(Stock Code: 00404) VOLUNTARY ANNOUNCEMENT IN RELATION TO A TRUST LOAN AND A GUARANTEE
This is a voluntary announcement made by Hsin Chong Construction Group Ltd. (the
"Company").
The Company hereby announces that on 27 March 2015, �'if*WJI�JJRlf�0PJ (Outlet Property Investment Guangdong Ltd.*) ("Outlet Property Guangdong"), a wholly- owned subsidiary of the Company incorporated in China, entered into a trust loan agreement (the "Trust Loan Agreement") with Bohai International Trust Co., Ltd. ("Bohai International Trust"). Pursuant to which Bohai International Trust grants Outlet Property Guangdong a trust loan of RMB750,000,000 (the "Loan") for a one-year term at an interest rate of 7.6% per annum.
Outlet Property Guangdong secures the Loan by pledging its three pieces of land at the land parcel "Ninety-nine Gang, Dushugang Village, Lubao County, Sanshui District, Foshan City, Guangdong Province, China" (land certification numbers: Fo San Guo Yong (2009) No.
20094100161, 20094100162 and 20094100163).
On 29 March 2015, the Company entered into a guarantee contract (the "Guarantee Contract") with Bohai International Trust pursuant to which the Company agreed to provide a guarantee for all the liabilities of Outlet Property Guangdong under the Trust Loan Agreement. The scope of the guarantee under the Guarantee Contract covers all the liabilities of Outlet Property Guangdong under the Trust Loan Agreement, including but not limited to all principals and interests (compound interests and penalty interests), liquidated damages, compensations and so on. The guarantee period shall commence on the date of the Guarantee Contract until two years after the performance term for the liabilities under the Trust Loan Agreement expired.
* for identification purposes only
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Directors of the Company (including the Independent Non-executive Directors) believe that the terms of the Guarantee Contract are on normal commercial terms and the entering into the Guarantee Contract is in the interest of the Company and the shareholders of the Company as a whole.
By order of the Board of
Chairman and Chief Executive Officer
Hong Kong, 1 April 2015
As at the date of this announcement, the Board comprises Dr. Wilfred WONG Ying Wai (Chairman and Chief Executive Officer), Mr. Joseph CHOI Kin Hung and Mr. ZHOU Wei as Executive Directors; Mr. Clifford King CHIU, Mr. ZHANG Xiaoying and Mr. YAN Jie as Non-executive Directors; and Dr. Joseph CHOW Ming Kuen, Mr. CHENG Sui Sang, Mr. GAO Jingyuan and Ms. LEE Jai Ying as Independent Non-executive Directors.
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