Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 127

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 7
Chunk 127
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 for an initial term of
two (2) years, which commenced January 1, 2023, for a monthly rental of HK$50,000. Upon the expiry of the above lease term, FIL renewed
the lease agreement with Mr. Li to lease the office for an additional term of two (2) years, commencing January 1, 2025, for the same
monthly rental.

Guarantees

Certain related parties provided
guarantees to the Company in connection with the bank borrowings of the Group. The bank loans of the Group consisted of the following:

  Bank Name                      Nature of               As at                         As at                         As at                     
                                 Loan                    December 31,                  December 31,                  December 31,              
                                                                                                                                               
                                                         2022                          2023                          2024                      
                                                         HK$’000                       HK$’000                       HK$’000                   
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Bank of China (Hong Kong)      Revolving loan (1)                        11,000                        11,000                        11,000  

  (1)      This loan is a revolving loan                                                                                                              
           up to HK$11,000,000, carries an interest at 2.25% below the Hong Kong prime rate and is secured by the Company’s office premise            
           located in Hong Kong, a Hong Kong residential property jointly owned by Li Kin Shing and his spouse and a personal guarantee from Li       
           Kin Shing. This loan was first drawn down on October 22, 2018 and has been rolled over for every six-month period. The Company recognized  
           this loan as short-term bank borrowing in its consolidated financial statements. The previous security charged over the Company’s          
           office premise located in Hong Kong was released on September 29, 2022.                                                                    
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

Transactions with related parties
were conducted in the normal course of business and at prices and terms no less than those charged to and contracted with other independent
third parties.

Leases

During the fiscal years ended
December 31, 2022, 2023 and 2024, our Operating Subsidiaries leased a director’s quarters
and office space located in Hong Kong from a related party as follows:

  Premise                   Relationship with the less