SINGAPORE (May 22): This afternoon, we received an open letter from a unitholder of Eagle Hospitality Trust. The unitholder is clearly concerned that interest payments on the REIT’s loans - US$506.6 million as at Dec 31, 2019- may have been suspended, and the loans may be in default. In fact, in a filing to the SGX, EHT’s manager has already said that EHT has already defaulted on a US$341 million loan because the sponsor, Urban Commons which has two shareholders, Howard Wu and Taylor Woods, did not honour its master lease payments to the trust.

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