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Press Releases

KWIH Secures RMB 500 million Green Loan from OCBC Wing Hang Bank China

24 May 2021

(Hong Kong – 24 May 2021) Shanghai Kai Tong Wen An Development Co., Ltd., a subsidiary of K. Wah International Holdings Limited (“KWIH” or “the Group”) (stock code: 00173) signed a RMB 500 million green loan[1] with OCBC Wing Hang Bank (China) Limited ("OCBC Wing Hang China"), a wholly-owned subsidiary of OCBC Bank in China. The first tranche was disbursed today. This marked the Group’s advancement towards its sustainable development goals and its implementation of sustainability initiatives.

Funds from this green loan will be used to finance KWIH's new office tower, EDGE, which is located at Suzhou Creek in Jingan District, Shanghai. The office tower was completed in early 2020, with sustainable development at the core of its design concept. Energy saving measures and other environmentally-friendly features include panoramic sky gardens on the middle- and high-levels of the building to improve the air quality and to alleviate the urban heat island effect. Other innovative features include the use of low-reflectivity glass façade to reduce light pollution to the neighbourhood, and the use of rainwater recycling system to irrigate landscape plants. These efforts have resulted in EDGE being recognized as a model of sustainable development within the green building industry. It has been awarded LEED (core and shell) Gold certification by the U.S. Green Building Council.

Ms Paddy Lui, Executive Director of KWIH, said: “This loan is KWIH’s first green loan and will support our ambitions in developing green buildings. We will actively bring in more environmentally-friendly features in future projects to mitigate climate change impacts on our communities. We are glad to cooperate with OCBC Wing Hang China to support the growth of green finance, and to contribute positively to the environment and the community."

Mr Benjamin Quek, Deputy President and Head of Corporate Banking, OCBC Wing Hang China, said: “The concept of sustainable development is integral to our corporate culture, and is reflected in all aspects of our operations, including our lending practices. This green financing transaction with KWIH is a milestone in our continuing journey to do good and we will continue to work with our customers on sustainable finance and extend our capabilities to do much more in this space.”

As KWIH drives business growth, KWIH will continue to integrate sustainability measures in its business operations enhancing quality of life for residents in its projects and creating long-term positive value for its customers and the wider community. KWIH has been a constituent of the Hang Seng Corporate Sustainability Benchmark Index since 2018, recognizing the Group’s ongoing efforts in the sustainability journey.

OCBC Bank has been promoting sustainable projects. In China, OCBC Wing Hang China has also formulated a sustainable finance development strategy, optimized and improved bank operations and management, improved overall sustainable finance business goals, provided strong support to customers, and has ramped up efforts to create a “greener” financial sector.

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[1] The Green Loan is structured in line with the Green Loan Principles 2020, jointly published by the Loan Market Association, the Asia Pacific Loan Market Association and the Syndicated Loan and Transaction Association.