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SHIMAO GROUP Reportedly Defaults on HKD4.5B Loan; 2 Sheraton Hotels in Tung Chung May Be Taken Over
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After SHIMAO GROUP (00813.HK) defaulted on a loan totaling HKD4.5 billion, multiple banks are planning to take over the Sheraton Hong Kong Tung Chung Hotel and Four Points by Sheraton Hong Kong, Tung Chung located near Hong Kong International Airport, Bloomberg reported, citing sources. The lending banks are reportedly in advanced discussions regarding the appointment of receivers to take control of the assets, in order to accelerate asset disposals and recover funds. The original lenders for the project included HSBC HOLDINGS (00005.HK), BOC HONG KONG (02388.HK) and BANK OF E ASIA (00023.HK), among others. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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