In Dec 2017, Chinese conglomerate HNA Group acquired all shares of CWT Ltd to successfully acquire CWT for S$1.399 bil. Since they were acquired, CWT has been combined with other assets and listed as CWT International and subsequently listed in HK. Yesterday, CWT International said it defaulted on a S$179mil loan and it has less than 24 hours to pay the funds or lose assets pledged as collateral. They have not paid accrued interest and fees worth HK$63 mil to lenders. The lenders will take possession of the assets if the amount due is not paid by 9 AM on Wednesday. The assets that are pledged under the loan facility includes CWT International’s 100% stake in Singapore based CWT Pte Ltd. Aside from this, CWT have 2 bonds outstanding. One of the bond matures in 18 April 2019 (like toda

When a long term tenant of your property decides to leave, this might create a problem for the landlord.  In some cases, your tenants go bankrupt halfway through the lease and could not pay the rent, despite that there is a contractual obligations to do that.  You would have the headache of trying to find new tenants for the property.  And if you cannot find one, you do not get any rent for the vacant period. These are some of the trials and tribulations if the company you are invested in, decides to acquire a property in a sale and leaseback arrangement.  In such an arrangement, the seller decides to sell to a buyer their property they owned. The seller then decides to lease back the premises from the buyer for a duration of time.  The seller is able to

Banyan Tree Holdings Price – $0.58 Target – $0.76 Banyan Tree Holdings (BTH) saw a recovery in its fee-based segment revenue with hotel/fund/club management and spa/gallery operations enjoying positive growth in 4Q18 after registering close to 20% declines each a year ago. Revenue from BTH’s property sales segment also jumped 61% in 4Q18 driven by higher handover of units at Cassia Phuket, Laguna Park townhomes/villas, Laguna Village residences and Banyan Tree Grand Residences. Meanwhile, revenue from the group’s Hotel investments dipped 13% as a result of ongoing renovations at Banyan Tree Phuket and underperformance from Angsana Laguna Phuket as well as deconsolidation effect following the disposal of Seychelles assets portfolio. BTH managed to secure 28 new management contracts