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Yesterday, 01:38 PM
While Manulife gives a good cryptic explanation to why its sales has not been up to pace.
Investors have to note that under MUST sales agreement, it must sell (i) US$230 million by end 2024 and (ii) US$98.7 million additional by mid June 2025
There are penalties involved where if MUST does not meet (i), its loan interest will rise from 7.25% to 8% and (b) an penalty of 1% of US$230 million minus the sales proceed. MUST has not sold a single property and the penalty nears with each passing day
Investors have to note that under MUST sales agreement, it must sell (i) US$230 million by end 2024 and (ii) US$98.7 million additional by mid June 2025
There are penalties involved where if MUST does not meet (i), its loan interest will rise from 7.25% to 8% and (b) an penalty of 1% of US$230 million minus the sales proceed. MUST has not sold a single property and the penalty nears with each passing day