Item 2. Properties
ITEM
2. PROPERTIES
Our
principal executive office is located at B-7-5, Northpoint, Mid Valley City, No. 1 Medan Syed Putra Utara, 59200 Kuala Lumpur, Malaysia.
Location
Owner
Use
B-7-5,
Northpoint, Mid Valley City, No. 1 Medan Syed Putra Utara, 59200 Kuala Lumpur, Malaysia
Greenpro
Resources Sdn Bhd
Self-use
business premises
D-07-06
and D-07-07~Sky Park @ One City, Jalan USJ 25/1, 47650 Subang Jaya, Selangor Darul Ehsan, Malaysia
Greenpro
Resources Sdn Bhd
Investment
for rental and capital gains
Units
6, 7 and 8, 22/F., Di Wang Building, No. 5002 Shennan Dong Road, Luohu District, Shenzhen, China
Greenpro
Management Consultancy Limited
Self-use
business premises
Factory
Units A8, B1, B6, B7, B8, B9, C3, C6, C7, C8, C9, D8, D9 on 14/F., Wang Cheung Industrial Building, 6 Tsing Yeung Circuit,
Tuen Mun, New Territories, Hong Kong
Forward
Win International Limited
Investment
for rental and capital gains
In December 2013, the Company
obtained a loan in the principal amount of MYR1,629,744 (approximately $391,201) from Standard Chartered Saadiq Berhad, a financial institution
in Malaysia to finance the acquisition of leasehold office units at Sky Park @ One City, Selangor Darul Ehsan, Malaysia which bore
interest at the base lending rate less 2.1% per annum with 300 monthly installments of MYR8,984 (approximately $2,157) each and would
mature in November 2038. The mortgage loan was secured by (i) the first legal charge over the property, (ii) personally guaranteed
by Messrs. Lee Chong Kuang and Loke Che Chan Gilbert, officers and directors of the Company, and (iii) corporate guaranteed by
a related company which was controlled by the directors of the Company. On September 21, 2021, the Company repaid the loan in
full.
In December 2013, the Company,
through Mr. Lee Chong Kuang, President, Chief Executive Officer and director of the Company, obtained a loan in the principal
amount of MYR1,074,896 (approximately $258,016) from United Overseas Bank (Malaysia) Berhad, a financial institution in Malaysia to finance
the acquisition of a leasehold office unit at Northpoint, Mid Valley City in Kuala Lumpur, Malaysia which bore interest at the
base lending rate less 2.2% per annum with 360 monthly installments of MYR4,998 (approximately $1,200) each and would mature in
November 2043. The mortgage loan was secured by the first legal charge over the property. On August 9, 2021, the Company repaid
the loan in full.
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In December 2017, the Company
obtained a loan in the principal amount of RMB9,000,000 (approximately $1,416,185) from Bank of China Limited, a financial institution
in China to finance the acquisition of leasehold office units of approximately 5,000 square feet at the Di Wang Building (Shun Hing Square),
Shenzhen, China. The loan bore interest at a 25% premium above the 5-year-or-above RMB base lending rate per annum with 120 monthly
installments and would mature in December 2027. The interest rate of the loan was 6.125% per annum. The monthly installment
would be determined by the sum of (i) a 25% premium above the 5-year-or-above RMB base lending rate per annum on the 20 th
day of each month for the interest payment and (ii) RMB75,000 (approximately $11,802) for the fixed repayment of principal. The
mortgage loan was secured by (i) the first legal charge over the property, (ii) a Restricted-Cash Fixed Deposit of RMB1,000,000
(approximately $157,354) of Greenpro Management Consultancy Limited, (iii) the accounts receivable of Greenpro Management Consultancy
Limited, (iv) corporate guaranteed by Greenpro Financial Consulting Limited, (v) corporate guaranteed by a related company which was
controlled by Mr. Loke Che Chan Gilbert and (vi) personally guaranteed by Ms. Chen Yanhong, the legal representative of Greenpro
Management Consultancy Limited and a shareholder of the Company. On July 9, 2021, the Company repaid the loan in full.
We
believe that the current facilities are adequate for our current needs. We intend to secure new facilities or expand existing facilities
as necessary to support future growth. We believe that suitable additional space will be available on commercially reasonable terms as
needed to accommodate our operations.