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The Lim family cannot sell anymore?
No wonder volume shrink......
The Facility Agreement has been entered into by the Company, as the borrower, on 27 November 2010
for the purposes of refinancing certain loans in respect of various vessels of the Group and for general
corporate and working capital purposes of the Group. Pursuant to Rule 13.18 of the Listing Rules, the
Company discloses the following information in connection with the Facility Agreement which contains
a specific performance obligation on the Lim Family.
TERM LOAN FACILITY
(1) General
On 27 November 2010, (1) the Company as the borrower, entered into the Facility Agreement
with, inter alia, (2) Credit Agricole Asia Shipfinance Limited as the agent and security agent; (3)
Crédit Agricole Corporate and Investment Bank, DnB NOR Bank ASA, Singapore Branch,
Maybank Investment Bank Berhad, RHB Bank (L) Ltd., The Hongkong and Shanghai Banking
Corporation Limited and Oversea-Chinese Banking Corporation Limited as mandated lead
arrangers; and (4) Crédit Agricole Corporate and Investment Bank, DnB NOR Bank ASA,
Singapore Branch, Malayan Banking Berhad, RHB Bank (L) Ltd., The Hongkong and Shanghai
Banking Corporation Limited and Oversea-Chinese Banking Corporation Limited as
underwriters and original lenders, for the purpose of refinancing certain loans in respect of
various vessels of the Group and for general corporate and working capital purposes of the Group.
The Facilities comprise the Term Loan Facility and the Revolving Loan Facility in an aggregate
amount of up to USD Six Hundred Million (US$600,000,000). The final maturity date of all
outstanding amounts under the Facilities will be the date falling eighty-four (84) months from the
(2) Specific Performance Obligation imposed on the Lim Family The Facility Agreement contains a specific performance obligation imposed on the Lim Family.
The Lim Family is required, together or individually, directly or indirectly, to hold the largest
percentage of the issued share capital of, and equity interest in, the Company. The Lim
Family’s holding shall include any interest which the Lim Family, together or individually, is
deemed to hold in accordance with Part XV of the SFO (
any interest in the Company held by GENT, GENM and their respective Affiliates. (3) Impact of non-compliance with the Specific Performance Obligation imposed on the Lim
Family If there is a non-compliance with the specific performance obligation imposed on the Lim Family
set out above on or before the First Utilisation, it will constitute an event of default. At any
time after the occurrence of an event of default which is continuing, the agent for the Facilities
may, and shall if so directed by the Majority Lenders, (i) terminate the obligations of the Lenders
under the Facility Agreement; (ii) declare all or part of the loan outstanding under the Facilities
together with accrued interest and all other outstanding payment be immediately due and payable;
and/or (iii) exercise any or all rights or remedies under the Facility Agreement and related
finance documents. If there is a non-compliance of the specific performance obligation after the
First Utilisation, it will constitute a prepayment event under the Facility Agreement and the agent
for the Facilities may, and shall if so directed by the Majority Lenders, (i) cancel the total
commitments of the lenders under the Facility Agreement; and (ii) declare all or part of the loan
outstanding under the Facilities be payable within 90 days. The occurrence of the aforesaid
events may trigger default provisions under other loan facilities of the Group, whereupon the
relevant lenders could demand immediate repayment of all sums outstanding under such other
loan facilities. GENERAL As at the date of this announcement and for the purpose of the said specific performance obligation, the
Lim Family, together or individually, directly or indirectly, holds approximately 76.19% of the issued
share capital of the Company, the largest percentage of the issued share capital of the Company.
This announcement is made pursuant to Rule 13.18 of the Listing Rules. In accordance with the
requirements pursuant to Rule 13.21 of the Listing Rules, disclosure will be included in the interim and
annual reports of the Company for so long as the said specific performance obligation imposed on the
Lim Family under the Facility Agreement continues to exist.
Closing Date or 28 February 2018, whichever is the earlier
spicy88 ( Date: 09-Dec-2010 23:04) Posted:
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sounds good !
tradermonster ( Date: 10-Dec-2010 08:24) Posted:
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Andrew Tan's Alliance Global says to sell 5% of firm
MANILA, Philippines - Alliance Global Group Inc. said on Thursday it was looking to sell all of its 550.1 million treasury shares in one block in coming months, with the proceeds to fund new tourism-related projects outside Manila.
The share sale, representing around 5% of the company's total outstanding stock, may happen in the first quarter of 2011, the company said, but added it may also delay the transaction depending on market conditions.
The sale could raise around P6.5 billion ($149 million) based on the stock's current market price. Alliance Global slid 0.7% to P11.90 on Thursday, in a broader market that fell 0.3%.
Shares of Alliance Global, with a market value of about $2.7 billion, hit a record high of P13.12 on Monday, with the stock attracting investor interest following the success of its Resorts World Manila at the Newport City in Pasay.
Resorts World features the country's largest casino, the 5-star Marriott Hotel, and the 6-star, all-suites Maxims Hotel, along with a 1,500-seat performing arts theater, fine dining restaurants and an upscale shopping mall.
Earlier, Alliance Global said it was setting aside P7 billion for new tourism projects that will create synergies with Resorts World.
It said it was confident about the prospects of the tourism industry, given the public-private partnership program of the Aquino administration, which is set to open the country to more infrastructure investments that will make tourist destinations more accessible.
The company, owned by property magnate Andrew Tan, also has interests in food and beverage (Emperador Distillers Inc.), property development (Megaworld Corp.), and quick service restaurants (McDonald's). - With a report from Reuters
tradermonster ( Date: 09-Dec-2010 21:45) Posted:
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Taiwan – laying the foundation.
Focusing on Taiwan, GENHK’s Taiwan routes have turned in a US$3-4m profit in 1H10, vs. last year’s US$5m loss. Efforts in Taiwan serve to position the group to explore land-based casino opportunities going forward. On the macro front, we learnt that a draft legislation is expected to go to the national assembly by year-end, followed by one or several referendums to seek local residents’ approval for the opening of casinos on the outlying islands. It was disclosed that a legal firm and a consultant firm has been appointed by the Ministry of Transport to spearhead efforts to bring about Taiwan’s first integrated resorts (IRs).
Comments here appear consistent with our earlier understanding that Taiwan-led expansion efforts would likely be led by GENHK rather than affiliated company, Genting Singapore, which could have its eyes set for other potential new gaming jurisdictions such as Japan. Management is bullish about prospects for all. Strategically, management is observing cultural changes that could drive their Asian cruise business over the next five years. Meanwhile, it is also bullish on NCL’s outlook following the Jun-10 delivery of its new ship, the Norwegian Epic
spicy88 ( Date: 09-Dec-2010 12:50) Posted:
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$$$$$$$$
GENTING PENGHU
$$$$$$$$
tradermonster ( Date: 09-Dec-2010 10:29) Posted:
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GENTING HK
already secured
US$600 Million Loan facility
HUGE PROJECT
In the pIpe lIne !
S E E M S
sOmethIng brewIng
at GENTING BERHAD
may invOlve
GENTING SP
and
GENTING HK
later
tradermonster ( Date: 09-Dec-2010 10:29) Posted:
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| << Back |
Observers said this signals that the nation is going to soon be building gambling facilities there.
Liu made the remarks while attending the weekly Cabinet meeting this week.
Hu Chung-ying, vice chairman of the Council for Economic Planning and Development (CEPD), said plans to complete seven of the so-called 12 "Love Taiwan" infrastructure projects.
The seven projects include: stepping up island's transportation networks, building the Taoyuan Aviation Hub, bringing high-tech firms to middle Taiwan, improving Kaohsiung City and Kaohsiung Port, increasing leisure tourism in eastern Taiwan, promoting land conservation and bolstering infrastructure on the offshore islands.
Premier Liu said the "government should first legalize casino gambling on offshore islands, and that will then set the stage for new construction of gambling facilities."
Building casinos on Penghu, one of the offshore islands of Taiwan, has been controversial. Backers believe this will bolster Penghu's tourism industry, whilst opponents think this will disturb an otherwise peaceful and quiet Pescadore Islands.
Casino gambling is now illegal in Taiwan. To build casinos on offshore islands, the legislature must first pass a bill to legalize casino gambling on the tiny islands. The cabinet will then introduce a gambling bill that needs to be passed by the legislature.
Liu's backing of offshore gambling legalization is seen as a breakthrough, according to Cabinet officials, as none of the premiers in the past had ever publicly backed the idea.
The cabinet meeting also featured the passing of a new plan aiming to attract $4 trillion in new investment from private companies during the next few years.
As part of the plan, $2 trillion of the new funds will be invested in Taiwan's electronics and computer industries.
What is more, the government will organize an international investors' forum in October as part of plans to obtain the $4 trillion.
epliew ( Date: 08-Dec-2010 11:20) Posted:
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epliew ( Date: 08-Dec-2010 11:22) Posted:
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Big fish eaten my shares at 0.445 within seconds i put on sale.
| 09:47:29 | 0.450 | 1,000 | A |
| 09:47:18 | 0.445 | 5,000 | B |
| 09:47:07 | 0.445 | 6,546,000 | A |
| 09:45:05 | 0.445 | 10,000 | A |
| 09:44:45 | 0.445 | 5,000 | A |
tradermonster ( Date: 07-Dec-2010 22:47) Posted:
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tradermonster ( Date: 07-Dec-2010 22:56) Posted:
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Taiwan – laying the foundation.
Focusing on Taiwan, GENHK’s Taiwan routes have turned in a US$3-4m profit in 1H10, vs. last year’s US$5m loss. Efforts in Taiwan serve to position the group to explore land-based casino opportunities going forward. On the macro front, we learnt that a draft legislation is expected to go to the national assembly by year-end, followed by one or several referendums to seek local residents’ approval for the opening of casinos on the outlying islands. It was disclosed that a legal firm and a consultant firm has been appointed by the Ministry of Transport to spearhead efforts to bring about Taiwan’s first integrated resorts (IRs). Comments here appear consistent with our earlier understanding that Taiwan-led expansion efforts would likely be led by GENHK rather than affiliated company, Genting Singapore, which could have its eyes set for other potential new gaming jurisdictions such as Japan. Management is bullish about prospects for all. Strategically, management is observing cultural changes that could drive their Asian cruise business over the next five years. Meanwhile, it is also bullish on NCL’s outlook following the Jun-10 delivery of its new ship, the Norwegian Epic