Hong Kong-listed gambling group Suncity falls after deal to sell aircraft

LET group

15/12/2021 07:23

** Shares of embattled gambling group Suncity Group Holdings
Ltd  1383.HK  drop 6.7% to HK$0.125, the worst performer among
Macau gaming stocks on Wednesday
    ** Suncity says it has agreed to sell a Bombardier Inc.
BD-700–1A11 aircraft to a third party, Jetcraft Global (UK) Ltd,
for $10 mln, generating immediate cash to enhance its liquidity
position  urn:newsml:reuters.com:*:nFWN2SZ14P
    ** Says the disposal is expected to result in a pre-tax loss
of HK$1.19 mln ($152,785) 
    ** Last week, Suncity said lenders had demanded full
repayment of loans of HK$313.6 mln ($40.2 mln) within five
business days from Dec. 8 and it may lead to a change in control
of Suncity if the lenders legally enforces repayment of the
loans  urn:newsml:reuters.com:*:nL4N2SV2MA
    ** Stock of Sands China  1928.HK  slips 0.4%; Melco
 0200.HK , Galaxy  0027.HK , MGM China  2282.HK , SJM  0880.HK 
and Wynn Macau  1128.HK  climb between 0.4% and 4.1%
    ** The Hang Seng Commerce & Industry Index  .HSNC  falls
1.7% and the benchmark Hang Seng Index  .HSI  slips 0.9%
    ** As of last close, Suncity stock had plunged 80.6% this
year 


($1 = 7.8018 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))