EHT's manager says ship repair cost of US$235 million grossly inaccurate as units trade at huge discount to NAV

SINGAPORE (Oct 28): Following an Oct 23 report by The Edge Singapore titled “Eagle Hospitality Trust could get wings clipped as key asset The Queen Mary sinks into disrepair”, the Singapore Exchange queried EHT’s manager to quantify the total cost of ship repairs, provide further details on how this will affect the operations of the trust, the implication on the impact of the valuation of The Queen Mary and how the Trust intends to finance such costs of repairs.