Shun Tak Holdings to Provide Additional Loan of Up to HK$108 Million to Subsidiary's JV

MT Newswires Live2024-12-10

Shun Tak Holdings (HKG:0242), through its subsidiary Ace Promise Investments, agreed to provide additional unsecured and interest-free loan of up to HK$108 million to Nextor Holdings, a Tuesday Hong Kong bourse filing said.

Nextor Holdings is a joint venture established by Ace Promise Investments and the joint venture partner, an independent third party which is a subsidiary of Abu Dhabi Investment Authority and holds 50% interests in the JV.

The loan is purposed to replenish the working capital of the JV which was established to hold and operate a commercial complex in Nova City Phase 5 located at Lot BT2/3, Taipa, Macao.

The property has a gross floor area of 655,000 square feet.

The company had previously provided similar loans amounting to HK$179.1 million to the JV.

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