Ming Fai International Holdings (HKSE:03828) Long-Term Capital Lease Obligation : HK$3 Mil (As of Dec. 2023)

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What is Ming Fai International Holdings Long-Term Capital Lease Obligation?

Ming Fai International Holdings's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was HK$3 Mil.

Ming Fai International Holdings's quarterly Long-Term Capital Lease Obligation declined from Dec. 2022 (HK$4 Mil) to Jun. 2023 (HK$2 Mil) but then increased from Jun. 2023 (HK$2 Mil) to Dec. 2023 (HK$3 Mil).

Ming Fai International Holdings's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (HK$2 Mil) to Dec. 2022 (HK$4 Mil) but then declined from Dec. 2022 (HK$4 Mil) to Dec. 2023 (HK$3 Mil).

Ming Fai International Holdings Long-Term Capital Lease Obligation Historical Data

The historical data trend for Ming Fai International Holdings's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Ming Fai International Holdings Long-Term Capital Lease Obligation Chart

Ming Fai International Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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2.93

5.00

2.40

3.83

2.64

Ming Fai International Holdings Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															2.40	6.34	3.83	2.15	2.64

Ming Fai International Holdings (HKSE:03828) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Ming Fai International Holdings (HKSE:03828) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Ming Fai International Holdings Ltd (HKSE:03828) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 3 Hoi Shing Road, Unit D3, 8th Floor, TML Tower, New Territories, Tsuen Wan, HKG

Website

https://www.mingfaigroup.com

Ming Fai International Holdings Ltd is an investment holding company. It is engaged in the manufacturing and trading of hospitality supplies products (Hospitality Supplies Business), trading of operating supplies and equipment (OS&E Business), and manufacturing and trading of health care and hygienic products (Health Care and Hygienic Products Business). Its products include Acrylic Hotel Supplies, Bath Mats, Portable Cables, umbrellas, Compact mirrors, Bath products, and others. The group has a business presence in North America, Europe, the PRC, Hong Kong, and other countries.

Executives

Ching Chi Fai	2101 Beneficial owner
Lo Kit Ling	2202 Interest of your spouse
Webb David Michael	2201 Interest of corporation controlled by you
Preferable Situation Assets Limited	2101 Beneficial owner

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