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CMBC Capital (1141) grants HK$430m margin loan facility to another Macrolink company owned by Fu Kwan
Company announcement, 10-May-2018
That's on top of a US$30m loan to another of Mr Fu's companies 2 days earlier, and existing loans to that company of US$70m. The margin loan is at 8.5% p.a.. CMBC Capital's total exposure to Mr Fu's companies is now HK$1,210m, or about 96% of its net tangible assets. CMBC Capital in our view is a bubble stock, with a market value of HK$24.3bn, or about 19 times its net tangible assets.
- CMBC Capital Holdings Limited
- CMBC SECURITIES COMPANY LIMITED
- DONGYUE GROUP LIMITED
- MACROLINK INTERNATIONAL HOLDINGS LIMITED