{"id":777020655,"date":"2024-11-12T10:01:46","date_gmt":"2024-11-12T13:01:46","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777020655"},"modified":"2026-04-22T04:18:20","modified_gmt":"2026-04-22T07:18:20","slug":"casinos-in-south-korea-shin-hwa-world-to-issue-us25-7m-in-bonds","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/casinos-in-south-korea-shin-hwa-world-to-issue-us25-7m-in-bonds","title":{"rendered":"Casinos in South Korea: Shin Hwa World to issue US$25.7m in bonds"},"content":{"rendered":"\n

The net proceeds from the bond issuance will be used for general working capital and business development.<\/p>\n\n\n\n\n\n\n\n

South Korea.- Shin Hwa World Limited<\/strong>, the former\u00a0Landing International Development<\/a>,\u00a0has announced that it will issue convertible bonds due in 96 months worth HK$200m (US$25.7m). It will have the option of a 24-month extension at its discretion.<\/p>\n\n\n\n

The company said net proceeds would be used for general working capital and business development. The aim is to diversity funding sources. The bonds are expected to carry an annual interest rate ranging from 5 per cent to 8 per cent and will not be listed on an exchange.<\/p>\n\n\n\n

In the first half of 2024, Shin Hwa World reported a net loss of HK$231.5m (US$29.7m), up from a HK$394.3m (US$50.5m) loss\u00a0a year earlier<\/a>. Group-wide revenue was up 25.5 per cent year-on-year to HK$524.7m (US$67.3m). <\/p>\n\n\n\n

Net gaming revenue grew 380 per cent to HK$114.9m (US$14.7m). Non-gaming revenue was HK$339.3m (US$43.5m), down 2 per cent, with a segment loss of HK$115.4m (US$14.8m). The property development segment, related to the sales activities of resort condominiums and villas in part of Jeju Shinhwa World saw a 92 per cent increase in profit to HK$30.9m (US$4m).<\/p>\n\n\n\n

In June, the company completed a capital reorganisation<\/a> and rights issue. The stake of\u00a0Yang Zhihui<\/strong>, the former chairman and executive director of\u00a0Shin Hwa World Limited<\/strong>\u00a0was diluted to 9.74 per cent while public shareholders\u2019 ownership was diluted from 36.16 per cent to 26.45 per cent. The company said the rights issue generated net proceeds of HK$258.6m (US$33.1m).<\/p>\n\n\n\n

The company\u2019s largest substantial shareholders are now Pauline Lam <\/strong>and Zhang Tingting<\/strong>, holding 17.96 per cent and 16.67 per cent, respectively. The underwriter and the 16 subscribers procured by the underwriter now collectively hold a 29.18 per cent stake.<\/p>\n","protected":false},"excerpt":{"rendered":"

The net proceeds from the bond issuance will be used for general working capital and business development.<\/p>\n","protected":false},"author":176,"featured_media":22179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Shin Hwa World Limited is issuing HK$200m in unlisted convertible bonds to bolster general working capital and diversify funding sources, following a recent capital reorganisation and rights issue that generated HK$258.6m. The company reported an improved net loss of HK$231.5m in H1 2024, driven by a significant 380% increase in net gaming revenue, despite a slight decline in non-gaming revenue.","focusai_entities":"Shin Hwa World Limited, Landing International Development, Yang Zhihui, Pauline Lam, Zhang Tingting","focusai_location":"South Korea, Jeju","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Bond Impact on Debt-Equity?","query":"What is the projected impact of this convertible bond issuance on Shin Hwa World's debt-to-equity ratio and its future cost of capital, considering the unlisted nature of the bonds?"},{"label":"Funding for Strategic Growth?","query":"How will the diversification of funding sources, combined with the recent capital reorganisation, influence Shin Hwa World's strategic expansion plans for its gaming and non-gaming verticals, particularly within Jeju Shinhwa World?"}],"footnotes":""},"categories":[16338,163],"tags":[24342],"class_list":["post-777020655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-shin-hwa-world"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777020655"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020655\/revisions"}],"predecessor-version":[{"id":777020670,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020655\/revisions\/777020670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22179"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}