New Century Hong Kong : DISCLOSEABLE TRANSACTION - PROVISION OF FINANCIAL ASSISTANCE

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.

*

(Incorporated in Bermuda with limited liability)

(Stock Code : 234)

DISCLOSEABLE TRANSACTION

PROVISION OF FINANCIAL ASSISTANCE

PROVISION OF FINANCIAL ASSISTANCE

The Board is pleased to announce that on 10 September 2020, the Loan Agreement was entered into between ETC Finance, an indirect non-wholly owned subsidiary of the Company, as lender, and the Customer as borrower. Pursuant to the Loan Agreement, ETC Finance granted a secured loan in a principal amount of HK$45,000,000 to the Customer for a term of 12 months.

LISTING RULES IMPLICATIONS

As certain applicable percentage ratios in respect of the Loan are more than 5% but less than 25% under Rule 14.07 of the Listing Rules, the grant of the Loan constitutes a discloseable transaction for the Company under Chapter 14 of the Listing Rules and is therefore subject to the reporting and announcement requirements under the Listing Rules.

PROVISION OF THE LOAN

The Board is pleased to announce that on 10 September 2020, the Loan Agreement was entered into between ETC Finance, an indirect non-wholly owned subsidiary of the Company, as lender, and the Customer as borrower. Pursuant to the Loan Agreement, ETC Finance granted a secured loan in a principal amount of HK$45,000,000 to the Customer for a term of 12 months. The principal terms of the Loan Agreement are set out below:

* For identification purpose only

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LOAN AGREEMENT
Date of agreement	:	10 September 2020
Lender	:	ETC Finance
Borrower	:	The Customer
Principal	:	HK$45,000,000
Interest rate	:	11% per annum
Repayment	:	Interest repayable by 12 monthly instalments with the
		principal repayable at the last instalment
Prepayment	:	The borrower may prepay to the lender all outstanding
		balance of the loan together with interest accrued by giving
		prior one month written notice to the lender
Security	:	A first legal charge in favour of the lender over (i) a
		residential property and a car parking space located in Tai
		Po; and (ii) a residential property located in Sheung Shui
		with the aggregate valuations of approximately
		HK$73,400,000 conducted by an independent professional
		property valuer on 27 August 2020
FUNDING OF THE LOAN

The Group will finance the Loan with its general working capital.

INFORMATION ON THE CREDIT RISK RELATING TO THE LOAN

The grant of the Loan was based on the collaterals provided by the Customer, the credit assessments on the financial strength and repayment ability of the Customer, together with the relatively short term nature of the Loan. After taking into account all such factors, the Directors consider that the risks involved in the Loan are relatively low and manageable.

INFORMATION ON THE CUSTOMER

The Customer is an individual who is a merchant. To the best of the Directors' knowledge, information and belief having made all reasonable enquiry, the Customer is a third party independent of the Company and its connected persons (as defined under the Listing Rules).

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REASONS FOR AND BENEFITS OF ENTERING INTO THE LOAN AGREEMENT

The principal activities of the Group comprise the provision of money lending services, cruise ship charter services, property investments and securities trading.

The terms of the Loan Agreement (including the interest rate) were negotiated on an arm's length basis between ETC Finance and the Customer based on the credit policy of ETC Finance. Taking into account the financial background and repayment ability of the Customer, the Directors are of view that a stable revenue and cashflow stream from interest income is expected to be generated from the Loan. The Directors consider and believe that the terms of the Loan Agreement are fair and reasonable and the entering into of the Loan Agreement is in the interests of the Company and its shareholders as a whole.

LISTING RULES IMPLICATIONS

As certain applicable percentage ratios in respect of the Loan are more than 5% but less than 25% under Rule 14.07 of the Listing Rules, the grant of the Loan constitutes a discloseable transaction for the Company under Chapter 14 of the Listing Rules and is therefore subject to the reporting and announcement requirements under the Listing Rules.

DEFINITIONS

In this announcement, the following expressions have the following meanings:

"Board"

The board of Directors

"Company"New Century Group Hong Kong Limited, a company incorporated in Bermuda with limited liability, whose shares are listed on the main board of the Stock Exchange with stock code 234

"Customer"Mr. Guan Yan Zhigang (also known as Guan Zhigang), the borrower under the Loan Agreement

"Directors"

the directors of the Company

"ETC Finance"ETC Finance Limited, a company incorporated in Hong Kong with limited liability with money lenders licence registered under Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong), and is an indirectly non-wholly owned subsidiary of the Company

"Group"

the Company and its subsidiaries

"Hong Kong"the Hong Kong Special Administrative Region of the People's Republic of China

"Listing Rules"the Rules Governing the Listing of Securities on the Stock Exchange

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"Loan Agreement"	the loan agreement dated 10 September 2020 entered into between
	ETC Finance and the Customer, particulars of which are stated in
	the section headed "Loan Agreement" in this announcement
"Stock Exchange"	The Stock Exchange of Hong Kong Limited
"HK$"	Hong Kong dollars, the lawful currency of Hong Kong
"%"	per cent.

On behalf of the Board

Ng Wee Keat

Chairman

Hong Kong, 10 September 2020

As at the date of this announcement, the Board comprises Mr. Ng Wee Keat (Chairman), Ms. Sio Ion Kuan (Deputy Chairman), Ms. Ng Siew Lang, Linda (Chief Operating Officer), Ms. Lilian Ng, Ms. Chen Ka Chee and Mr. Yu Wai Man as executive directors and Mr. Cheung Chun Kwok, Mr. Kwan Kai Kin, Kenneth and Mr. Ho Yau Ming as independent non-executive directors.

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