HNA Group

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) – that have exposure to Hong Kong-listed CWT International (CWTI). To recap, CWTI, controlled by Chinese conglomerate HNA Group which is facing liquidity challenges, on Tuesday announced that it ...
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 its rental payments under their respective lease agreements. CWT is a tenant of properties at 20 Gul Way and 30 Tuas West Road which are managed by AA REIT. In its regulatory filing, AIMS APAC ...
HNA explores sale of newly acquired CWT logistics unit
HONG KONG (Sept 19): China's HNA Group is in talks with banks to find a buyer for its CWT logistics unit, nine months after it acquired the Singaporean business in a US$1 billion  ($1.4 billion) deal, several people familiar with the matter told Reuters. See: CWT receives formal US$1 bil takeover offer from HNA See: HNA to face $3.1 bil liquidity crunch this quarter See: HNA's fire ...
Singapore's shelved IPOs pile up as Summit, Qualitas struggle
SINGAPORE (Apr 24): Singapore initial public offerings sure are having trouble getting over the finish line these days. Electricity generator Summit Power International became the latest casualty Tuesday, telling investors it’s shelving a share sale that was targeting US$260 million ($344 million). The move came less than two weeks after Bloomberg News reported Malaysian clinic operator ...
HNA to face $3.1 bil liquidity crunch this quarter
(Jan 31): The crisis surrounding HNA Group deepened after it emerged that the Chinese company’s ability to repay its debt will face a potential shortfall of at least 15 billion yuan ($3.1 billion) in the first quarter. The sprawling conglomerate warned major creditors about its financial status in a meeting in Hainan last week, though it also said that the pressure will probably ease in the ...
HNA-linked acquirer terminates purchase of stake in Sapphire Corp
SINGAPORE (Jan 29): A Hong Kong-listed subsidiary of China’s HNA Group had terminated its acquisition of shares in SGX-listed Sapphire Corporation “by way of mutual consent”. The Hong Kong company, Hong Kong International Construction Investment Management Group Co., had wanted to buy shares from two of Sapphire’s shareholders that would make it the largest shareholder with a combined ...
Sapphire Corp on track to win more rail contracts with HNA backing
SINGAPORE (Oct 26): Shares in Sapphire Corp, the railway infrastructure engineering firm, closed 6% or 2 cents to 32 cents on Friday with 1.5 million shares changing hands .  The Edge Singapore this week (Issue 803) reports China’s HNA Holding Group Co is acquiring a major stake in Sapphire. This could open doors for the company to win more contracts amid a boom in infrastructure ...
HNA Group in refinancing quandary as Hong Kong project loans loom
(Sept 14): When HNA Group Co., the Chinese conglomerate that’s been buying up companies worldwide, spent US$3.5 billion ($4.7 billion) in Hong Kong earlier this year on land for its first luxury real estate development, it had no problems getting bank funding. But now HNA needs more: to refinance the short-term loans it used for its purchases, which start coming due in November, and then to ...
CWT receives formal US$1 bil takeover offer from HNA
SINGAPORE (Sept 8): CWT, the logistics and warehousing firm, has received a formal offer from a Chinese conglomerate to buy all its shares in a deal valuing the company at US$1 billion ($1.3 billion). HNA Group is offering $2.33 a share for CWT, the same price as its preliminary offer announced in May. The offer is at a 2.2% premium to its last traded price on Wednesday, CWT said in a filing ...
China's HNA boosts Dufry stake, pursues CWT purchase plan
(Aug 21): Chinese conglomerate HNA Group has completed the acquisition of a 16.2% stake in Swiss airport retailer Dufry AG from Singaporean sovereign funds GIC and Temasek, Dufry and HNA said on Monday. See: HNA is said to schedule long-awaited vote on US$1 bil CWT deal No value for the deal was given, but the stake would be worth about US$1.4 billion ($1.9 billion), given Dufry's current ...