Fu, Kwan 傅軍

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 (1141) lends US$30m to MACRO-LINK International Investment Co., Ltd.
Company announcement, 7-May-2018
The borrower is ultimately controlled by Mr Fu Kwan, the unnamed guarantor. The borrower owns shares in an unnamed Cayman company listed in HK, which is probably either Dongyue Group (0189) of which it owns 29.2%, or New Silkroad Culturaltainment (0472) of which it owns 6.73%, but Mr Fu controls 61.83% of that company. This takes the total loans of the group to this borrower to US$100m.
CMBC Capital (1141) lends US$70m to someone secured on something2nd announcement
Company announcement, 13-Apr-2018
The 2nd announcement reveals the borrower as Macro-Link International Investment Co Ltd, without saying who owns it. We can tell you it is controlled by Mr Fu Kwan. The new facility is US$40m, on top of an existing US$30m loan. The security is shares of an unnamed HK Listco which must be Dongyue (0189) which is 29.2% owned by the borrower.

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