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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