Apex Ace Buys Life Insurance Policy for CEO

MT Newswires Live

01/07

Apex Ace (HKG:6036) bought a life insurance policy for its chief executive Lee Bing Kwong from HSBC Life, according to a Hong Kong bourse filing Wednesday.

The semiconductor distributor paid an initial single premium of $3.5 million on the policy.

Meanwhile, the firm said it secured a revolving trade loan facility from HSBC (HKG:0005) in the amount of up to HK$215.8 million.

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