Developer Sun Hung Kai Properties (SHKP) yesterday denied suggestions that one of its creditor banks has asked it to repay loans before maturity. 'We have not received any letters from banks wanting to cut our credit,' SHKP general manager of corporate finance Au Man-to said. 'All of our bankers will continue lending to us - whether European, Japanese or local banks. The nationalities of our bankers are very diversified.' One local fund manager said earlier this week that a European bank had written to its Hong Kong clients - including SHKP - wanting repayment of all loans within six weeks. Mr Au dismissed this: 'All of SHKP's current credit lines can be renewed and I want to emphasise that we have even received proposals from new banks [that we have not dealt with before] to extend us new lines of credit. 'We have no shortfall between this year's cash flow and current liabilities.' Mr Au declined to reveal SHKP's present liabilities, saying instead that SHKP had sold $24 billion worth of flats since July. He also said income from the company's property rental portfolio was expected to exceed $5 billion for the present financial year, which ends next month. He said net debt was about 20 per cent of total shareholder funds, in line with company policy. Mr Au said SHKP's borrowing costs had risen since the onset of the currency crisis in October, but he said funding costs were no higher than for other borrowers. 'We are cash-rich and not desperate for capital . . . we have ample working capital,' he said. 'Whether we take on new credit or not depends on the banks' proposals - if their conditions are favourable then it would be only reasonable that we would take their money.'