Fang Xin

completed

The proposed project involves an investment of up to $20.0 million (combination of loan and equity) in Fangxin Limited (a Hong Kong-based holding company, the Holdco) and its wholly owned subsidiaries (operating in mainland China) to support the Holdco and subsidiaries (together referred to as the Group or Fangxin) expansion program, which is estimated at $37.5 million. The Group is engaged in the development, production and sale of cosmetic packaging components and offers a fully integrated supply chain. The expansion program comprises of the following components: - improving the current technology, facility and working environment of anodizing process and production; - increasing the capacity of the existing operations; and - the development and manufacture of mascara and pump-based line of products. Successful implementation of the project will allow the Group to become better integrated into the global cosmetic and toiletry supply chain and increase its market share in this growing sector.