A unit of Macau Legend Development on Tuesday disposed of the bank’s bonds with a total principal of HK$200 million (US$25.5 million) through the “open market,” realizing the same amount.
The organization promotes Macau Fisherman’s Pier, a leisure facility where you can play games near the city’s outer port. 파칭코
Macau Legends said in a filing with the Hong Kong Stock Exchange that Macau Fisherman’s Voodoo International Investment Limited’s action was “in light of market conditions.” This was understood to indicate a slump in Macau tourism amid repeated COVID-19 outbreaks in the city itself and in mainland China, a key source market.
Macau Legends added: “The board believes the bond disposal provides the company with a good opportunity to strengthen the group’s cash flow and better form its asset portfolio.”
The 8% annual perpetual bond was issued by the rousseau international bank in December 2018 and held by the Macau Legends unit for “investment purposes”.
SAYS MARKO LEGEND GROUP’S BOND INTEREST REVENUE WAS ABOUT HK$16 MILLION FOR FINANCIAL YEAR ENDING DECEMBER 31, 2020 AND 2021.
Interest income was about HK$8 million in the six months to June 30 this year. The bonds had no fixed maturity or fixed repayment date, the document added.
Macau Fisherman’s warp has two gaming attributes that use the casino license of SJM Holdings Ltd. Legend Palace is a hotel with related game operations.
There are also two non-game hotel facilities, the Harborview Hotel and the Rocks Hotel.
Macau Legends reported a net loss of just over HK$1.19 billion ($151.6 million) for the full year 2021 beyond the normal reporting period. It was down 39.1% year-on-year.
Lebo Chan Wong Lin, former president of Macau junket brand Takchun and former CEO of Macau Legends, was detained in Macau in January on charges of illegal operation of gambling operations and money laundering. He resigned from his role as Macau legend shortly after.
In May, Macau Legends announced that a review conducted by an independent consultant found “no irregularities” in the deal between the company and Mr Chan.
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