SGR 2.13% 48.0¢ the star entertainment group limited

Ann: Group CEO and MD appointment, page-24

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    The total project build may approach 4 billion probably slightly less. The residential is about 1 billion maybe slight more eg 1.1 . This is minused from the 4. So total dbc project is 3 approx. Of that the whole dbc owes 1.6 billion. Star's share of this debt is 50% 800 million. That is the debt facility to finish the project. Star may have to add another 100m odd due to overruns. Hope this helps. However it should be a very important note here that the 800m is a part of the dbc 1.6 b. Therefore the debt is very low risk for the holder as any or all parties must pay the debt should one party default. Therefore if the debt is refinanced back into this package it would be possible to maintain that depends on if they very deep pocketed CFT and Far East would be prepared to guarantee the debt. If they want to debt split out and won't guarantee it then it could be a problem unless Star start making decent profit going forward.
 
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