Annual Report - QuamIR
Annual Report - QuamIR
Annual Report - QuamIR
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<strong>Report</strong> of the Directors (Continued)<br />
<br />
Continuing Connected Transactions (Continued)<br />
(ii) Guarantees to CRE and its subsidiaries (Continued)<br />
a. The Guarantees (Continued)<br />
As at 31 December 2011, the total<br />
outstanding principal was RMB154<br />
million (approximately HK$190.1<br />
million); and the extent of the<br />
Guarantee was for the same<br />
amount.<br />
<br />
(ii) <br />
<br />
a. <br />
<br />
<br />
<br />
154,000,000 <br />
190,100,000 <br />
<br />
<br />
Repayment and<br />
: The loan is repayable by<br />
<br />
<br />
maturity dates of<br />
installments scheduled over the<br />
<br />
<br />
loan facility<br />
term of the loan as provided in the<br />
<br />
<br />
facility agreement over the term of<br />
<br />
the loan, with the final maturity date<br />
<br />
falling on 27 February 2021.<br />
(3) Date : 22 December 2008<br />
(3) <br />
<br />
Project company<br />
: <br />
<br />
<br />
(borrower)<br />
(Hong Kong New Energy Si Zi<br />
<br />
<br />
Wang Qi Wind Power Ltd.), which is<br />
<br />
currently a wholly-owned subsidiary<br />
<br />
of CRE.<br />
Amount secured<br />
: The Guarantee provided for this<br />
<br />
<br />
project company was given in<br />
<br />
favour of the bank to secure<br />
<br />
repayment of all monies due from<br />
<br />
the operating company to the bank<br />
<br />
under the loan facility, including the<br />
<br />
principals, interests accrued and<br />
<br />
other losses, damages and monies<br />
<br />
payable under the loan facility.<br />
<br />
60 HKC (Holdings) Limited • <strong>Annual</strong> <strong>Report</strong> 2011