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Far East Consortium International ( (HK:0035) ) just unveiled an update.
Far East Consortium International Limited has announced a discloseable transaction involving its mortgage portfolio in Hong Kong. The transaction involves the sale of first-lien mortgage facilities with maturities ranging from 2029 to 2049, totaling an outstanding principal amount of HK$550,975,575. The company will act as a transitional servicer before other credit servicers manage the mortgage assets. This move is expected to improve the company’s liquidity and reduce operational costs, as the company will no longer be the mortgagee of the underlying loans. The transaction is deemed fair and reasonable, providing economic benefits without incurring maintenance costs.
The most recent analyst rating on (HK:0035) stock is a Buy with a HK$1.25 price target. To see the full list of analyst forecasts on Far East Consortium International stock, see the HK:0035 Stock Forecast page.
More about Far East Consortium International
Far East Consortium International Limited is a company incorporated in the Cayman Islands, primarily engaged in real estate development and investment. The company focuses on residential development units in Hong Kong, offering mortgage facilities to finance customer purchases.
Average Trading Volume: 880,636
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$2.42B
For an in-depth examination of 0035 stock, go to TipRanks’ Overview page.