Eagle Hospitality Trust posts US$8.9m Q1 loss
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Singapore
BELEAGUERED Eagle Hospitality Trust (EHT) has posted a loss of US$8.9 million for the first quarter to March, mainly due to the impairment loss on trade receivables arising from the uncertainty on the master lessees' ability to make rental payments and fulfil its obligations.
Therefore, there is no income available for distribution for unitholders of the hospitality stapled group comprising Eagle Hospitality Real Estate Investment Trust (EH-Reit) and Eagle Hospitality Business Trust (EH-BT), according to EHT's financial statements released on May 16.
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