Company: GINT
Filing Date: 2025-05-16
Form Type: DRS/A
Source: 0001213900-25-044839
Chunk: 219

Company: Gifts International Holdings Ltd
Filing Date: 2025-05-16
Form: DRS/A
Chunk 219
---
765 |

NOTE 7 — BANK BORROWINGS Bank borrowings comprised of the followings:

| Bank borrowings, secured: 
 March 31,                 
 2024                      |     | Maturity date     | September 30, 
 2024          | Interest 
 rate     
 (p.a.)   |     | As of         
 September 30, 
 2024          |           |     |     |           |     |     |         |
|:--------------------------|:----|:------------------|:--------------|:---------|:----|:--------------|----------:|:----|:----|----------:|:----|:----|--------:|
|                           |     |                   |               |          |     | HKD           |           |     | HKD |           |     | USD |         |
| Loan : HK$5.0 million     |     | March 2, 2029     |               | 3.50%    |     | $             | 1,682,844 |     | $   | 1,527,931 |     | $   | 196,663 |
| Loan : HK$4.0 million     |     | May 23, 2028      |               | 2.75%    |     |               | 2,860,605 |     |     | 2,539,671 |     |     | 326,885 |
| Loan : HK$2.5 million     |     | February 19, 2029 |               | 2.75%    |     |               | 2,764,013 |     |     | 2,482,928 |     |     | 319,582 |
|                           |     |                   |               |          |     | $             | 7,307,463 |     | $   | 6,550,530 |     | $   | 843,130 |

The Company obtained certain loans from financial institutions in Hong Kong, in the aggregate principal amount of up to HK$6,550,530 (US$843,130), up to September 30, 2024. These loans bear annual interest at the bank prevailing rates ranging from 2.75% to 3.50%. The Company is subject to various financial covenants under certain loan agreements, which include repayment on -demandclause. Hence, all of these bank borrowings are reclassified as “current liabilities”. Interest related