Corporate digest

Eagle Hospitality Trust

EAGLE Hospitality Reit (EH-Reit) last Thursday completed its sale of its remaining nine non-auctioned Chapter 11 properties excluding the Queen Mary Long Beach. These assets include the Reit's Holiday Inn properties in Orlando, Denver and California, as well as Renaissance Denver Stapleton, Sheraton Pasadena, Crowne Plaza Danbury, Westin Sacramento and Embassy Suites by Hilton Palm Desert.

In a bourse filing on Monday, EHT's trustee DBS Trustee said the Chapter 11 entities - including EH-Reit and the EHT Singapore entities - received net proceeds of US$324.7 million from the latest transaction. Aggregate net proceeds from the sale of 14 Chapter 11 properties in total, which have since been completed with the latest transaction, amounted to US$478.6 million.

CNMC Goldmine Holdings

THE Catalist-listed group on Monday said it expects the Malaysian government's decision to extend the nationwide full lockdown beyond June 28 to negatively affect its financial performance for the half-year ending June 30, 2021.

CNMC ceased all on-site activities in Kelantan from June 1 this year. In view of the lockdown being extended, the group said its exploration and production activities in Kelantan will be delayed yet again.

While the company has no bank borrowings and remains in a net cash position, the group said in its latest filing that its outlook beyond H1 FY2021 "could remain challenging" if the pandemic continues to stall its exploration and production activities.

Yanlord Land, Ho Bee Land

YANLORD Land Group and Ho Bee Land will jointly develop a residential site in Tianjin, China.

The land parcel has a total site area of 53,200 square metres (sq m) and was acquired by Yanlord through public land auction for approximately 1.5 billion yuan (S$312.3 million).

Yanlord and Ho Bee will hold 51 and 49 per cent effective interest respectively in the project, which will transform the site into a high-end residential development with ancillary community retail space and educational facilities with total gross floor area of about 117,100 sq m.