New Century Group Hong Kong (HKG:0234) unit ETC Finance granted a HK$9.2 million mortgage loan to Shing Yuen Kwan for 12 months, a Friday Hong Kong bourse filing said.
The loan, which carries an interest rate of 10.5% per annum, is secured by a first legal charge over a HK$11.5 million residential property in Tsuen Wan.
The loan has been used to settle a previous loan obtained by the borrower from the money lender.
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