v3.26.1
BANK LOANS
 12 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
BANK LOANS

9. BANK LOANS

 

The bank loans consisted of the following at September 30, 2025:

 

Bank Name  Type  Principal Amount  

Outstanding

Amount

  

Outstanding

Amount

   Drawdown Date   Interest 
      HKD   HKD   USD         
Bank of Comm  Revolving loan   7,000,000    7,000,000    897,435    Apr 2, 2025    BLR-0.75% 
Bank of Comm  Revolving loan   3,000,000    3,000,000    384,615    Apr 29, 2025    BLR-0.75% 
Orix Asia Limited  Non-Revolving   5,000,000    5,000,000    641,025    Jul 17, 2025    One month HIBOR +2.45% 
          15,000,000    1,923,075         

 

The expiration date of the facilities of HKD 7,000,000 is March 27, 2026. This is a revolving facility that was re-borrow during the current year upon repayment of the previous outstanding balance. The expiration date of the facilities of HKD3,000,000 is April 28, 2027. The expiration date of the facilities of HKD5,000,000 is June 2, 2026.

 

The bank loans consisted of the following at September 30, 2024:

 

Bank Name  Type   Principal Amount  

Outstanding

Amount

  

Outstanding

Amount

   Drawdown Date   Interest 
       HKD   HKD   USD         
Bank of Comm   Revolving loan    7,000,000    7,000,000    897,435    2024-09-27    BLR-0.75% 
            7,000,000    897,435         

 

The expiration date of the facilities of HKD 7,000,000 is March 27, 2026.

 

 

 

Note: Bank of Comm = Bank of Communications (Hong Kong) Limited

 

As at September 30,2025, bank loan under Orix Asia Limited were secured by (i) charge over deposit at the amount of HK$ 2,500,000, approximately US$320,513 and (ii) unconditional corporate guarantee by the Company.

 

As at September 30, 2025 and 2024, bank loans under Bank of Comm were secured by (i) personal guarantees given by the directors – Mr. Lam Shing Kwan, Henry (“Mr. Lam”) and Mr. Ngan Ching Shun (“Mr. Ngan”) and (ii) guarantees given by The Hong Kong Mortgage Corporation Limited, HKMC Insurance Limited.

 

The following are the maturity dates of the above borrowings as of September 30, 2025:

   

Years ending September 30,  Amount
US$		 
2026  1,538,460 
2027   384,615 
Total borrowings   1,923,075 
Less: the current portion due to on demand within one year   (1,923,075)
Non-current portion   - 

 

The following are the maturity dates of the above borrowings as of September 30, 2024:

 

Years ending September 30,  Amount US$ 
2025   897,435 
Less: current portion   (897,435)
Non-current portion   - 

 

During the year ended September 30, 2023, 2024 and 2025, bank loans with principal of US$220,459, US$1,282,051 and US$897,435 were fully repaid. During the years ended September 30, 2023, 2024 and 2025, interest expense related to these credit facilities was US$71,029, US$60,506 and US$29,349 respectively.