Shun Tak Approves Up to HK$400 Million Support for Macau JV

MT Newswires Live

06/27

Shun Tak Holdings (HKG:0242) said it will provide up to HK$400 million in financial assistance to its equally held Macau joint venture with the Abu Dhabi Investment Authority, according to a Thursday Hong Kong bourse filing.

The support includes a guarantee for interest payments on a HK$2.9 billion loan from Bank of China (Macau) and potential unsecured shareholder loans with no fixed repayment terms.

The JV owns a 655,000-square-foot shopping complex in Nova City Phase 5, Taipa. Shun Tak cited slow post-pandemic recovery and higher financing costs as reasons for the funding, according to the filing.

Shares of the company closed 3% lower on Friday.

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Shun Tak cited slow post-pandemic recovery and higher financing costs as reasons for the funding, according to the filing.</p><p>Shares of the company closed 3% lower on Friday.</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1230","symbol_name":"工業集團企業","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2546477790","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2546477790","pubTimestamp":1751013456,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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