CWT International

Debt and defaults

What are the lessons from the Hyflux haircut?

(Dec 20): In the 1970s, long-haired visitors to Singapore were required to cut their hair on arrival as unkempt locks were linked to hippie culture.

Broker's Calls

CacheLog kept at 'buy' by RHB as bumper 2Q19 awaits

SINGAPORE (June 17): RHB Research is maintaining Cache Logistics Trust at “buy” with a higher target price of $0.83, representing 8% upside with 8% yield.

Broker's Calls

Analysts turning cautious on CacheLog Trust with liquidity-challenged CWT as tenant

SINGAPORE (Apr 26): Analysts are mostly remaining neutral on Cache Logistics Trust (CacheLog Trust) following its results announcement , but they will be keeping a watchful eye on the trust should

Management & Corporate Governance

After Hyflux fall, Singapore debt buyers scrutinise these firms

(Apr 26): The collapse of Singapore’s water treatment firm Hyflux has increased investor scrutiny over other debt-laden companies that have sold bonds in the local currency.

HNA unit's lenders seize assets as payment deadline missed

(Apr 23): Lenders to HNA Group Co.’s CWT International seized control of assets in Singapore, China and the US after the unit failed to repay amounts due on its credit facility.

In print this week

Fallout from Hong Kong loan default to have limited impact on Singapore REITs

SINGAPORE (April 22): A trio of Singapore industrial real estate investment trusts (REITs) is feeling the fallout from CWT International’s default.

Broker's Calls

MapletreeLog and Cache kept on 'hold' by OCBC in wake of CWT International default

SINGAPORE (Apr 18): OCBC is downgrading Mapletree Logistics Trust to ‘hold’ given there could be uncertainties over its longer-term outlook in the wake of the news that CWT International had defaul

Broker's Calls

DBS says exposure by REITs to CWT default more manageable than thought

SINGAPORE (Apr 17): DBS Group Research is not overly worried about the local industrial REITs – AIM APAC REIT (AA REIT), Mapletree Logistics Trust (MLT) and Cache Logistics Trust (CacheLog Trust) –

Update

AA REIT, CacheLog and MapletreeLog say no default on rents so far by tenant CWT

SINGAPORE (Apr 17): The managers of AIMS APAC REIT (AA REIT), Cache Logistics Trust (Cache) and Mapletree Logistics (MLT) announced separately on Tuesday night that CWT has so far not defaulted on

HK-listed CWT International defaults on loan interests and fees; 3 CWT-linked REITs could be hit

SINGAPORE (Apr 16): CWT International (CWTI), controlled by Chinese conglomerate HNA Group which is facing liquidity challenges, on Tuesday announced it has failed to pay accrued interests and fees

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