The fund will provide sustain further expansion in China.
Leading PRC furniture designer, manufacturer and distributor Royale Furniture Holdings Limited (“Royale Furniture”) announced Thursday that it has secured a HK$400 million three-year term syndicated loan facility (the “Facility”) with a number of banks. The funds are to be used for the Group’s capital expenditure and daily operation.
Mr Jackson Tse, Chairman of Royale Furniture, said, “We are pleased to enjoy the continued support from our banks, which shows their strong confidence in Royale Furniture’s bright prospects within the China market. The financial support is definitely a strong boost for our growing presence in mainland China with a solid foundation in our plan to set up production plants and new retail shops, according to a Royale Furniture report.
The Facility and the new retail shops will prepare us to seize the vast opportunities brought by the growth of domestic demand in China, boosted by the PRC Government’s aggressive plan to build 36 million affordable housing units which will create a huge demand for furniture in the near future.
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