Luk Fook International : Lukfook Group and DBS Hong Kong Signs HK$326 milli...

Hong Kong, 20 November 2023 - Luk Fook Holdings (International) Limited ("Lukfook")(Stock Code: 00590.HK) and DBS Bank (Hong Kong) Limited("DBS Hong Kong") announced they had signed Lukfook's first sustainability-linked loan of HK$326 million. The loan includes revolving credit facilities with interest rate linked to Lukfook Group's sustainability performance against the agreed set of KPIs.

In keeping up with Lukfook's three-year corporate goal, Lukfook targets to reduce its energy consumption intensity and greenhouse gas emissions intensity through environmentally friendly practices across their operations and production activities.

This sustainability-linked loan echoes Lukfook's goal to complete the establishment of its environmental protection related goals, including the long-term carbon reduction goals, as well as goals related to exhaust gas and greenhouse gas emissions, waste, energy use efficiency and water efficiency, within this timeframe, with a view to aligning with the Hong Kong Special Administrative Region Government's target of achieving carbon neutrality before 2050.

Wong Wai Sheung, Chairman and Chief Executive Officer of Lukfook Group, said, "Sustainability plays an important role in Lukfook's daily operations. We strive to optimise our environmental, social and governance management systems, and strive to integrate environmental, social and governance concepts into our corporate planning and operational decisions. We are thrilled to have DBS Hong Kong on board as one of our key partners in this sustainable endeavour. This sustainability-linked loan marks an important milestone in Lukfook's sustainable development and affirms our continued efforts in environmental, social and governance issues. Going forward, we will continue to leverage Lukfook's influence to promote sustainable development and move towards a low-carbon future."

Wallace Lam, Managing Director and Head of Institutional Banking Group of DBS Hong Kong, said, "As a purpose-driven bank, DBS Hong Kong is delighted to support Lukfook, one of Hong Kong's leading jewellery groups by extending our first sustainability-linked loan to them. We look forward to extending our partnership with Lukfook Group in their future sustainable development and will continue to help our clients transition to a low carbon environment and society."

DBS has an established track record in supporting clients across different industries to progress in their sustainability journey. In recent years, DBS Hong Kong had completed a number of sustainability-linked financings for various companies, The Hongkong and Shanghai Hotels Group, Gammon Construction Limited, Hong Kong Land, Xinyi Energy, and a few more to name.

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