XML 41 R23.htm IDEA: XBRL DOCUMENT v3.26.1
BANK BORROWINGS
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
BANK BORROWINGS

14. BANK BORROWINGS

 

The following table presents the balances of bank borrowings as of December 31, 2024 and 2025:

 

             
   As of December 31, 
   2024   2025 
   HK$   HK$   US$ (Note 2(e)) 
Bank borrowings, current portion   284,404    504,838    64,723 
Bank borrowings, non-current portion   4,715,596    4,210,245    539,775 
Bank borrowings   5,000,000    4,715,083    604,498 

 

On May 27, 2024, Sereno secured an instalment bank loan of HK$5,000,000 (US$641,026) under the SME Financing Guarantee Scheme with a 100% guarantee provided by HKMC Insurance Limited. The loan is backed by an unlimited personal guarantee from Yee Kar Wing and Hui Wai Ming, the Company’s shareholders. The interest of the loan shall be calculated at the prime rate quoted by the bank from time to time minus 2.25% per annum, i.e. 3.625% per annum at the first drawdown date of the loan. The loan is scheduled to be repaid over 120 monthly instalments, starting from June 26, 2024, and continuing through May 26, 2034. The first 12 months shall be of interest payment only and the remaining instalments after the first 12 months shall be equal instalment payments comprising principal and interest payment. The annual interest rate of the loan has been reduced to 2.75% in December 2025.

 

Interest related to the bank borrowings were Nil, HK$100,939 and HK$145,289 (US$18,627) for the years ended December 31, 2023, 2024, and 2025 respectively.

 

As of December 31, 2025, the borrowing will be due according to the following schedule:

 

  

As of

December 31, 2025

 
   HK$ 
Within 1 Year   504,838 
Between 1 to 2 Years   518,898 
Between 2 to 3 Years   533,328 
Between 3 to 4 Years   548,207 
Between 4 to 5 Years   563,468 
Between 5 to 6 Years   579,161 
Between 6 to 7 Years   595,273 
Between 7 to 8 Years   611,869 
Between 8 to 9 Years   260,041 
Total   4,715,083