{"id":7912,"date":"2020-07-07T21:26:18","date_gmt":"2020-07-07T21:26:18","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=7912"},"modified":"2026-04-24T03:51:29","modified_gmt":"2026-04-24T06:51:29","slug":"new-us60-million-loan-for-hoiana-ir","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/new-us60-million-loan-for-hoiana-ir","title":{"rendered":"New US$60 million loan for Hoiana IR"},"content":{"rendered":"\n

Suncity Group has found 50 per cent of the new loan, while the remainder will come from project partner Alpha Era.<\/p>\n\n\n\n\n\n\n\n

Vietnam.- Investors in the Hoiana resort have found another US$60 million in loans for the project.<\/p>\n\n\n\n

Kong-based Suncity Group said in a filing that it will provide half of the cash through a loan obtained via its indirect wholly owned British Virgin Islands-based subsidiary Star Admiral at an annual interest rate of 14 per cent.<\/p>\n\n\n\n

The money is being advanced to another British Virgin Islands company, Gold Yield Enterprises, which is jointly owned by Star Admiral and Alpha Era, Suncity’s partner on the Hoiana development. Alpha Era itself will provide another US$30 million loan under the same terms.<\/p>\n\n\n\n

Gold Yield Enterprises’ main project is the Hoiana casino resort complex at Hoi An South in Vietnam’s Quang Nam Province.<\/p>\n\n\n\n

Gold Yield in turn is advancing the cash to Hoi An South Development Ltd, the Vietnam-incorporated owner of the project.<\/p>\n\n\n\n

The funds add to around US$65 million the group has already put forward for the scheme, and another US$34 million already supplied by an indirect wholly-owned subsidiary.<\/p>\n\n\n\n

Hoiana offered a preview last month<\/strong><\/em><\/a> and is due to open next year.<\/p>\n\n\n\n

Suncity is said to be seeking opportunities in tourism-related business in the South East Asia region, including Vietnam and Korea.<\/p>\n\n\n\n

In the filling Suncity stated: \u201cIn light of the increasing demand for tourism-related business in the South East Asia region, the board holds a positive outlook for the project in the future and it is expected that the group will benefit from the future success of GYE and the project.<\/p>\n\n\n\n

\u201cIt is necessary for GYE and the Project to have sufficient fund for its future business development and to meet its capital needs for development\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

Suncity Group has found 50 per cent of the new loan, while the remainder will come from project partner Alpha Era.<\/p>\n","protected":false},"author":2,"featured_media":7914,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Suncity Group and its partner Alpha Era have secured an additional US$60 million in loans for the Hoiana integrated resort project in Vietnam. Suncity, via its indirect wholly-owned subsidiary Star Admiral, will provide half of the funding at a 14% annual interest rate, with Alpha Era supplying the remainder under identical terms. This capital injection is deemed crucial for the project's future business development and capital needs, reflecting Suncity's strategic focus on Southeast Asian tourism and gaming verticals.","focusai_entities":"Suncity Group, Alpha Era, Star Admiral, Gold Yield Enterprises, Hoi An South Development Ltd","focusai_location":"Vietnam, British Virgin Islands, Hoi An South, Quang Nam Province, South East Asia, Korea","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (0.98), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Hoiana GGR Projections","query":"What are the projected Gross Gaming Revenue (GGR) contributions from the Hoiana resort to Suncity Group's consolidated financials upon full operationalization, considering the current market dynamics in Vietnam and regional competition?"},{"label":"Debt Servicing Strategy","query":"Given the 14% annual interest rate on the new US$60 million loan, what is Suncity Group's debt servicing strategy for Gold Yield Enterprises, and how will this impact the project's Net Gaming Revenue (NGR) and overall profitability metrics?"}],"footnotes":""},"categories":[163,16334],"tags":[8232,1427,94],"class_list":["post-7912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-asia-news","tag-hoiana","tag-suncity","tag-vietnam"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7912","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=7912"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7912\/revisions"}],"predecessor-version":[{"id":7926,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7912\/revisions\/7926"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7914"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=7912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=7912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=7912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}