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Bank loans

12 Months Ended

Dec. 31, 2024

Notes and other explanatory information [abstract]

Bank loans

25. Bank loans

The bank loans are repayable from August 2032 to June 2033. They contain a repayment on demand clause and therefore they are classified as current liabilities as at December 31, 2024. They carry interest at 2.5% per annum below the Prime Lending Rate. The bank loans are guaranteed by (i) HKMC Insurance Limited and (ii) personal guarantee, plus interest and other charges provided from the directors of the Group.

Schedule of bank loans  

		2024				2024				2023
		US$				HK$				HK$
Bank loans repayable:-
Within one year			1,029,798				7,999,165				7,549,277
In the second to fifth years, inclusive			4,466,286				34,692,766				33,115,679
More than five years			3,539,395				27,492,958				37,089,303
			8,005,681				62,185,724				70,204,982
			9,035,479				70,184,889				77,754,259

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- Definition

The entire disclosure for borrowing costs.

+ References

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-Number 23
-IssueDate 2024-01-01
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-URIDate 2024-03-27

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- References

No definition available.

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