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Jupiter Ltd (Jupiter) is a property developer in Hong Kong. Jupiter started its construction of a commercial building in Ho Man Tin, namely Building A,
Jupiter Ltd (Jupiter) is a property developer in Hong Kong. Jupiter started its construction of a commercial building in Ho Man Tin, namely Building A, which will be rented out to commercial customers and earn rental income. On 1 July 2015, Jupiter started the construction at a fixed cost of HK$ 50 million. Construction commenced on that day and it will take three years to complete Payments to the contractor is made as follows Payment date 1 July 2015 1 November 2015 1 February 2016 1 June 2016 Amount HK$'000 5,000 6,000 8,000 7.000 26,000 In order to finance the construction and its ordinary business, Jupiter arranged the following borrowings at 1 July 2015 6% HK$10 million 4-year loan note with simple interest payable annually, which relates specifically to the construction. The HK$10 million was put on deposit before payments were made to the a
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