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 />
b. Loan Facilities<br />
The salient particulars of the Loan Facilities are set out below:<br />
<br />
(ii) <br />
<br />
b. <br />
<br />
(1) Inter-company advance<br />
(1) <br />
Date : 13 December 2010<br />
<br />
<br />
<br />
Borrower (project<br />
: <br />
<br />
<br />
company)<br />
(Hong Kong Wind Power (Muling)<br />
<br />
<br />
Company Limited), which is<br />
<br />
currently a non wholly-owned<br />
<br />
subsidiary of CRE.<br />
Amount<br />
: A s u m o f RMB14 million<br />
<br />
<br />
(approximately HK$16.6 million)<br />
<br />
was advanced by a wholly-owned<br />
14,000,000 <br />
subsidiary of the Company to<br />
16,600,000<br />
directly repay the outstanding bank<br />
<br />
borrowings then due from the<br />
<br />
project company.<br />
<br />
As at 31 December 2011, the inter-<br />
<br />
company advance was fully repaid.<br />
<br />
<br />
Terms<br />
: The indebtedness recorded on<br />
<br />
<br />
inter-company account is<br />
<br />
unsecured, interest free and without<br />
<br />
fixed repayment date.<br />
<br />
62 HKC (Holdings) Limited • <strong>Annual</strong> <strong>Report</strong> 2011
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