China says it doesn't need Taiwan's permission to open new air route
| 02:25pm
Macau | Cultural Affairs Bureau head still on sick leave with return date unknown - Secretary Alexis Tam
| 02:25pm
Macau | Heritage classification of shipyards and Lai Chi Wun starts
| 01:50pm
Macau | Record high for international visitors to MSAR
| 01:29pm
Pacquiao says in talks to fight Lomachenko
| 01:23pm
Former Trump aide Bannon refuses to comply with U.S. House subpoena
| 11:45am
Macau | New Director for Judiciary Police appointed
| 10:39am
Ford projects lower-than-expected 2017 profits
| 10:30am
Trump is sharp, but needs to lose weight - White House doctor
| 09:30am
Macau Opinion | Bus tariffs
| 09:30am

Neptune lending more

Local junket operator Neptune Group Limited has entered into a mortgage loan agreement with two independent third parties, according to a filing by the company with the Hong Kong Stock Exchange on Tuesday after trading hours. The loan deal amounts to HK$42 million, with a 7 per cent interest rate per year for a term […]

Local junket operator Neptune Group Limited has entered into a mortgage loan agreement with two independent third parties, according to a filing by the company with the Hong Kong Stock Exchange on Tuesday after trading hours.
The loan deal amounts to HK$42 million, with a 7 per cent interest rate per year for a term of 12 months, and is provided by Top Vast, an indirect wholly owned subsidiary of the company.
Neptune noted it expects to receive annual interest income of HK2.94 million during the term of the loan.
A residential property located on ‘a prime site in Hong Kong’ Island appraised at HK$60 million will serve as collateral for the deal.
Since the end of 2016, Neptune has started diversifying its portfolio by engaging in the money-lending business.
Earlier this week, Hou Wan, a junket service provider operated by the company, received notice from The Venetian of the termination of operations in the property, effective August 30.
The termination of business involving Hou Wan comes after The Venetian terminated other business of the company, suspending the operation of 14 VIP tables in the casino run by another subsidiary of Neptune, Hao Cai Sociedade Unipessoal Limitada, effective June 30, 2017.

OPINION

717 POSTS0 COMMENTS
235 POSTS0 COMMENTS
187 POSTS0 COMMENTS
103 POSTS0 COMMENTS