Metro Holdings

another Chow Kuan company from Indonesia..
this one is worse coz got political power.
this one can even screw Major shareholders even when it is a minority shareholder.

BUMI INVESTMENT PTE. LTD.
(Incorporated in Singapore)
(Company No. 201019399E)
Singapore, Monday 24th November 2014

Bumi Capital Pte Ltd, Bumi Investment Pte Ltd and Enercoal Resources Pte Ltd wholly owned
Singapore subsidiaries of PT Bumi Resources Tbk have today filed an application in Singapore to
enter into a formal court process under section 210 of the Singapore Companies Act to restructure
their obligations under the notes and bonds they have issued. This is part of the on-going efforts
to restructure Bumi’s debt obligations. As an initial step in the Section 210 Court Process, the
Singapore subsidiaries have sought and today obtained a moratorium of six months against legal
and enforcement action, so as to facilitate discussions with noteholders and bondholders and the
continuing restructuring efforts.
More information about the Section 210 Court Process and the on-going debt restructuring will be
provided in due course.

Metro city Shanghai has only 15 more years to go , Management not confident in getting extension of the lease .

How did u know mgt not confident of able extend it

Ask lawrence Chiang in next agm .

(25-11-2014, 04:41 PM)cfa Wrote: Metro city Shanghai has only 15 more years to go , Management not confident in getting extension of the lease .

They are one of the early birds and will likely be one of the pioneers to be able experience of lease expiration or extension.

Never say never but must always remember that China remains Communist rule...

(25-11-2014, 08:54 PM)greengiraffe Wrote:

(25-11-2014, 04:41 PM)cfa Wrote: Metro city Shanghai has only 15 more years to go , Management not confident in getting extension of the lease .

They are one of the early birds and will likely be one of the pioneers to be able experience of lease expiration or extension.

Never say never but must always remember that China remains Communist rule...

I think this qn was asked before and management gave a non committed answer.
What else can they say? They can't say they definitely can or definitely cannot get an extension. It's china. It's hard to say until it happens.

But they did say the profits n cash generated from these assets already covered their costs. Basically saying it has been profitable, but can we still continue to profit from a mature asset? They wouldn't know right now

i bet they mostly likely able to renew the lease.
property lease be it residential or commercial are short term in nature
there are many more residential property even nearer the end of their lease...does it mean the people will get chased out?

(25-11-2014, 09:40 PM)pianist Wrote: i bet they mostly likely able to renew the lease.
property lease be it residential or commercial are short term in nature
there are many more residential property even nearer the end of their lease...does it mean the people will get chased out?

Its Communist and in such a society noone is supposed to be making supernormal profits and hence the state may be the prime vehicle to "repossess" such lucrative assets and recycled it for the good of the messes...

This is unlike Singapore where short lease HDB flats are given SERS scheme that will takeover low inefficient land use old flats that will make way for higher land use mature estate redevelopments... perhaps the Communists may adopt the highly successful Singapore model for future renewal with their copycat style in the future...

U hear it from the imaginative giraffe here in 2014...

No Vested Interests
GG

deng xiaoping revolution opens up to capitalistic idea...some lucky ones due to this policy become private billionaires now in china...

When I travelled to Shanghai and Nanjing in the early 90 , I always stayed in 2 hotels owned by Singaporeans ; Jinglin Hotel Nanjing and JC Mandarin Shanghai . Now these 2 hotels owned by SOEs of PRC, after the leases were expired.