The Hong Kong Mortgage Corporation Limited (HKMC) today (Monday) announced the highlights of its audited financial results for 2012 as follows:
2012 Financial Results Highlights
2012 Business Performance Highlights
Asset Purchase
Debt Issuance
Mortgage Insurance Programme (MIP)
SME Financing Guarantee Scheme (SFGS)
Reverse Mortgage Programme
Microfinance Scheme
Further details of the HKMC’s consolidated financial results and financial review for 2012 are set out at Annex A.
Outlook for 2013
The global economic and financial outlook is unclear and it is possible that Hong Kong will continue to see high volatility in the financial markets in 2013. Moreover, the monetary easing policies adopted by major economies will continue to affect asset prices in Hong Kong. The HKMC will remain vigilant and stand ready to face any challenges in the year ahead.
Appointment of Board of Directors
The HKMC held its 16th Annual General Meeting today. Twelve Directors have been re-appointed by the Financial Secretary for another term, namely, Professor K C Chan, Mr Chan Kin-por, Miss Tanya Chan, Professor Anthony Cheung, Mr Eddy Fong, Mr Andrew Fung, Mr Lester Huang, Mr Lee Huat-oon, Ms Starry Lee, Mr Andrew Leung, Dr David Li and Mr Abraham Shek. The Financial Secretary appointed Mr Jammy Chen and Professor Wong Yuk-shan as new Directors. Ms Diana Cesar has retired as Director and has not offered herself for re-appointment. The composition of the new Board of Directors is at Annex B.
According to the Articles of Association of the HKMC, at each Annual General Meeting all those Directors who are not Executive Directors shall retire but shall be eligible for re-appointment. Hence, the term of office of these Directors will run until the next Annual General Meeting to be held around April 2014.
The Hong Kong Mortgage Corporation Limited
15 April 2013