Daisy Ho, chairperson of SJM Resorts, S.A. (SJM), yesterday expressed her confidence in seeking funds for the enterprise.
Her comment was made on the sidelines of a press conference.
Recently, several agencies have conveyed their concerns over SJM’s financial liquidity and that the enterprise may see difficulties in the search for extra funds. Ho was questioned on the matter.
In response, the senior executive disclosed that SJM’s negotiation for syndicated loans was “nearly complete,” except for some smaller details. She stressed that “our teams are working closely with banks to close the deal.”
Will funds from STDM, SJM’s parent company, be required to clear immediate hurdles? The parent company has announced a sum of HKD5 billion in loans ready for SJM.
Confident in closing the syndicated loans and thanking the parent company for its support, Ho said, “I hope SJM will be able to resolve the issues using our own efforts.”
On the rumors that SJM Resorts have settled agreements with several “satellite casinos” in terms of operation rights, Ho revealed that negotiations have progressed satisfactorily, adding that details will be disclosed in due course.
The Grand Lisboa Palace in Cotai is only partially open. It was first unveiled to the public at the end of July last year. Currently, only a small part of the shopping mall, two out of three hotels, as well as a handful of restaurants are in operation.
The single hotel that is not open is branded under fashion brand Versace. When questioned about when the hotel, officially named Palazzo Versace, will be opened, the senior executive disclosed that the hotel is in fact ready.
“We hope it can be opened within this year,” she expressed. “However, the Covid-19 pandemic and related restrictions have posed challenges. I believe we’ll rely on tourist arrival numbers and the development of the pandemic to determine an actual launching date.”
Wedding dress design contest with CPTTM
The gambling concessionaire announced yesterday that it would hold a wedding gown design contest with the Macau Productivity and Technology Transfer Centre (CPTTM).
The contest will be themed “contemporary chinoiserie.”
Both Ho and Victoria Kuan, director general of CPTTM, expect the contest to showcase various sartor techniques and designs, and consolidate Macau’s position as an intercultural base, creative city and tourism destination.
Registration for the contest is now open. Registrants must be at least 18 years of age and must hold Permanent Macau Resident IDs. Prizes valued at MOP110,000 will be awarded to a shortlisted pool of contestants and winners who will be selected by a jury comprising representatives from the organizers and industry leaders across the Greater Bay Area.
