Skip to main content

Replies sorted oldest to newest

Dem boys seh…Guyana getting Chinee O-lo
 

Marriott Hotel gets new investor;

debt financing deal struck

WORK MOVES APACE: The Marriott-branded hotel under construction in this photo taken on May 24,2014.
WORK MOVES APACE: The Marriott-branded hotel under construction in this photo taken on May 24,2014.

 


This email address is being protected from spambots. You need JavaScript enabled to view it. 

Atlantic Hotel Inc. (AHI) and Republic Bank Ltd on Saturday announced the completion of the financial arrangements by Republic Bank for a syndicated borrowing of US$27M in debt financing for AHI. This is for the construction of the Marriott operated hotel and the shell of an Entertainment Complex.
Republic Bank, on behalf of its consortium of lenders, has received its approvals and the transaction is expected to be concluded shortly.
The principal investors in AHI (Marriott Hotel Guyana project and Entertainment Complex) are National Industrial and Commercial Investment Limited (NICIL) and British Virgin Island (BVI) registered, ACE Square Investments Ltd.  ACE Square Investments Ltd. will acquire 67% of the equity of AHI for US$8M. As required under the Hotel Management Agreement between Marriott and AHI, Marriott has consented to the transfer of the controlling interest of AHI from NICIL to ACE Square Investments Ltd.
Ace Square Management Ltd, affiliated company of ACE Square Investments Ltd., has been selected to operate the Entertainment Complex and secure the outfitting cost, estimated at a minimum of US$4M. Additionally, Ace Square Management Ltd will guarantee a minimum financial performance of the Entertainment Complex, consistent with the Feasibility Study conducted by HVS International (dated October 31, 2012).
Ace Square Management Ltd’s beneficial shareholders are the same as ACE Square Investments Ltd.  The beneficial owners of the shares in ACE Square Investments Ltd., and the owners of the shares in ACE Square Investments Ltd., through a BVI registered holding company, Big Splendor Limited, are Hong Kong businessmen, Mr. Victor How Chung Chan, LLB (Hon.) and Mr. Xu Han, BSc, MBA, DBA.
Mr. Victor Chan has diverse and substantial investment interests both in Hong Kong and China. He is an Executive Director of the REXLOT Group and is the single largest shareholder and Founder and Director of the REX Resources Group.
The REXLOT Group is the leading lottery system and distribution company in China and has extensive operations in China’s lottery market, through its local subsidiaries and international joint ventures. The Group is listed on the main board of the Hong Kong Stock Exchange with a market capitalisation of over HK$8 billion (app US$1.0 B).
The REX Resources Group is principally engaged in gold, coal, rare earth and other metal, mining exploration and development, both in China and internationally. Mr. Chan is also the leading investor and shareholder of China Gamma Group. The Group is listed on the main board of Hong Kong Stock Exchange, with a market capitalisation of over HK$600 million (app US$77 M). Mr. Chan founded REXCAPITAL Partners in 1994, a private investment group with over HK$1billion in financial investments.
Mr. Xu Han is a long-standing business associate of Mr. Chan and holds graduate degrees from prominent US and Hong Kong universities. Additionally, Mr. Han has over 30 years of global experience in both the public and private sectors, such as finance, gaming, and mining.
FM
Originally Posted by Mr.T:

So the debt finance is U$27M but ACE gets 67% of the business for U$8M.

Nice scam the PPP is pulling again.

Virgin island, the tax avoidance and secret banking destination as used by all well off crooks.


Soon the opposition will dig into this financing in Parliament and make to make a decision how to move forward......and when everything is in the open and exposed we will see this is just another Bobby & Bharat UNDERHAND SCHEME SECRETLY CRAFTED TO HIDE THEIR IDENTITY.
FM
Originally Posted by Jalil:
Hong Kong businessmen are Marriott investors Who are these People?????? LET US WATCH THE SECRET BUSS-UP NOW..... http://www.stabroeknews.com/20...s-marriott-investor/ KassemB β€’ 6 hours ago One mystery solve………….see more XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX KingKingKingKabaka KassemB β€’ 3 hours ago no no not yet solved or resolved .the opposition news papers say is jagdeo. so they still have sum more to pound nicil and jagdeo and you know once opposition news paper say its so then you know its so LoL XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX halley KingKingKingKabaka β€’ an hour ago So, the project costs US$27M and the principal investors are National Industrial and Commercial Investment Limited [read Govt of Guyana] and British Virgin Island (BVI) registered, ACE Square Investments Ltd. ACE Square Investments Ltd. will acquire 67% of the equity of AHI for US$8M." Did I read the above right? ACE is investing 8 million and will acquire 67% of the equity? The people of Guyana puts in 19 million and controls 33% equity? If it is what is seems, this arrangement is quacking like the Berbice River duck. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX OBSERVER β€’ 5 hours ago This is like a slap in the face of the Guyanese People....only after repeated criticisms about the secrecy of this ALL CHINESE 'Guyana' Marriott do we in Guyana learn officially who is the prime investor. SHAME, SHAME, SHAME. Meanwhile, a Chinese BILLIONAIRE in China by the name of Zhou Yongkang, was sentenced to death yesterday in a People's Court after being convicted for murder in a racketeering organization in which a number of people were murdered. Is there any lesson for the Guyanese from this story out of China..???? XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX gtbeat OBSERVER β€’ 4 hours ago your xenophobia knows no boundaries.Take a lesson in economics and learn where the wealth is, in the new global economy, here is a hint you can exclude the Americans.look towards the east. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX 1Beak1 OBSERVER β€’ 4 hours ago There are glaring suspicions that there were a number of political assassinations in Guyana under the PNC and this new PPP administration. The adage if you live by the gun, you will likely perish by the gun or lack of med-care, sorry my thorat. (Don't ketch a flu and if you do, ketch a plane for Florida) Nothing of such nature ever happened under the most respected Dr. Jagan govts. There are many lessons but can the kettle tell the pot his bottom is black. This dangerous turn in Guyana's politics must have serious implications going forward. No one can white-wash crimes with Commissions. See what has and is happening to Tashkin Shinawatra (once Thai PM), living as a fugitive in Paris as a billionaire once owner of Manchester City football club; his sister Yingluck PM of Thailand and other pedigrees are all imprisoned by the army for among other things not yielding to orders of the Court. He also had used bad words against the King who is worshiped in Thailand. The secret is that he is in arms with the US neo-cons, as he had privatized the Thai's economy selling out to Western foreigners. Now the smart fly get caught in the same mess. Messy. Cheers. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Sean McLean OBSERVER β€’ 4 hours ago IF it was an African businessman investing in Guyana would you be telling us about the genocides in Africa. Or, do you just have something about Chinese and Indians people. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Crooks Sean McLean β€’ 2 hours ago No matter how you try to inject race the fact remains this is about teefin …….not race XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX colin2nice Sean McLean β€’ an hour ago An African businessman investing in Guyana? Now there's an oxymoron! XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX KingKingKingKabaka OBSERVER β€’ 3 hours ago slap in yours and opposition face. You see…. all told the world its jagdeo ……/so what now XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX fmguycan β€’ 5 hours ago Now that deal is seal. Lighten up Guyana lets celebrate. Enjoy.!!!!!!!!!!!!!!!!!!!!!!!!!!!!! XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Sean McLean β€’ 4 hours ago It is always GOOD NEWS for Guyana when these Foreign Investors are willing to take the risk in developing businesses in Guyana. So, the project costs US$27M and the principal investors are National Industrial and Commercial Investment Limited [read Govt of Guyana] and British Virgin Island (BVI) registered, ACE Square Investments Ltd. ACE Square Investments Ltd. will acquire 67% of the equity of AHI for US$8M." Did I read the above right? ACE is investing 8 million and will acquire 67% of the equity? The people of Guyana puts in 19 million and controls 33% equity? If it is what is seems, this arrangement is quacking like the Berbice River duck. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX BORAPORK β€’ 3 hours ago Now we know the real reason for the all Chinese workforce. If they treat our workers with respect they should be welcomed but based on previous run-ins with locals, this may be a tall order. The Chinese don't have a stellar track record with Africans in Africa. They don't even have a good record with their neighbours. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Sean McLean BORAPORK β€’ 2 hours ago Don't you listen to Adam Harris? He says that Guyanese construction workers do shoddy work. Then, he turns around and ask why they don't get hired on The Marriott Hotel Project. I do not agree with Adam Harris assessment that Guyanese construction workers do not do high quality work as you only have to look at all those new houses and other buildings going upin Guyana to see that their work is very good quality.. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Fireman649 β€’ 3 hours ago Notice that a feasibility study about the entertainment complex was mentioned in the story. How about a feasibility study on the occupancy rate of the Marriott given what we are reading about the Tower Hotel. This confirms for me that these Chinese are associating themselves with this corrupt PPP cartel and the hotel as a front to pursue their primary business interest, Gold, Coal, Rear Earth Metals and the Guyana Lottery. Just remember I said it first these people are not owners or partners in any hotel venture that are into mining. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX hmmmmmmm β€’ 3 hours ago "The REX Resources Group is principally engaged in gold, coal, rare earth and other metal, mining exploration and development, both in China and internationally. Mr. Chan is also the leading investor and shareholder of China Gamma Group." So this is what it's all about .... XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX WI Cricket Forum β€’ 2 hours ago lets hope this hotel will now be completed in a timely manner. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Saggaincayman β€’ 2 hours ago In the not too distant future Kaieteur News will find out something that would once again place this already infamous investment in the lime light.
FM

a 27 million loan over the long term is not bad investment providing they are able to get tourists in good amounts to the hotel within the first three years to start making payments.  The location has a good view and a good beach front but with global warming in full force it would be facing several unknowns in the years to come.

FM

Add Reply

×
×
×
×
×
Link copied to your clipboard.
×
×