CASABLANCA (02223): CASABLANCA Home and Bank entered into a foreign exchange forward contract.
Casatian Jiao (02223) issued an announcement that on January 17, 2025, Casatian Jiao Home (a subsidiary company of the company)...
CASABLANCA (02223) announced that on January 17, 2025, CASABLANCA Home (a wholly-owned subsidiary of the company) entered into a forward exchange contract with a bank (an independent third party) to mitigate the currency risk between the Chinese Yuan and the Hong Kong Dollar, with a principal amount of 14 million Yuan. Due to CASABLANCA Home entering into a loan agreement with its affiliate in China, and providing loans denominated in Yuan, while the group's reporting currency is in Hong Kong Dollars, the depreciation of Yuan against the Hong Kong Dollar may impact the group's financial performance. Therefore, the group entered into a forward exchange contract to mitigate such currency risks.
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