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Shun Tak Holdings ( (HK:0242) ) just unveiled an update.
Shun Tak Holdings Limited has announced its decision to provide financial assistance to a joint venture company (JVC) involved in the operation of a large-scale lifestyle shopping centre in Macau, part of Nova City Phase 5. The financial assistance, which includes a corporate guarantee and potentially an unsecured shareholder’s loan, aims to support the JVC’s working capital needs amid slower-than-expected economic recovery and increased financing costs due to recent interest rate hikes. This move is expected to stabilize the JVC’s operations and potentially enhance Shun Tak’s position in the luxury property market in Macau.
More about Shun Tak Holdings
Shun Tak Holdings Limited is an investment holding company based in Hong Kong, engaged in various business activities including property development, investment and management, hospitality and leisure, transportation, and other investments.
Average Trading Volume: 1,281,843
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.87B
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