DBS Hong Kong and Lukfook Group Signs HK$326 million Sustainability-linked Loan | 繁體

Hong Kong.20 Nov 2023
Hong Kong, 20 Nov 2023 - DBS Bank (Hong Kong) Limited and Luk Fook Holdings (International) Limited (Stock Code: 00590.HK) 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.

Dr. Kathy Chan, Executive Director and Chief Financial Officer of Lukfook Group (right) and Mr. Wallace Lam, Managing Director and Head of Institutional Banking Group of DBS Hong Kong (left) announced they had signed Lukfook’s first sustainability-linked loan.

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.



About DBS 

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 15 consecutive years from 2009 to 2023.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.


About Luk Fook Holdings (International) Limited (Stock Code: 00590.HK)

The Group principally engages in the sourcing, designing, wholesaling, trademark licensing and retailing of a variety of gold and platinum jewellery and gem-set jewellery products, with a total of over 3,280 points of sale in 11 countries and regions currently. The Group will continue to identify new business opportunities in the international markets to keep in line with its corporate vision, “Brand of Hong Kong, Sparkling the World”.