Lai Sun Development

Lai Sun weighs redeveloping Ritz-Carlton into office tower

Lai Sun Development is studying the possibility of redeveloping the Ritz-Carlton hotel in Central into an office building, which the company sees as offering greater returns.

Tuesday, 11 April, 2006, 12:00am

Change in accounting boosts Lai Sun profit

All five members in the Lai Sun Group have managed to record positive earnings in their latest results, thanks to revaluation gains under the new accounting system.

Property arm Lai Sun Development posted a net profit of $231.37 million, or two cents per share, for the six months to the end of January. This compared with a loss of $1.17 billion in the same period last year.

10 Apr 2006 - 12:00am

Vertex gears up for power venture with US$4m bond

Media firm Vertex Communications & Technology Group is building a war chest for its foray into Hong Kong's electricity market by selling US$4 million worth of bonds to an arbitrage fund.

29 Mar 2006 - 12:00am

ESun raises cash for Cotai facility

ESun Holdings sold $455 million worth of new shares yesterday to pay for part of the land premium for its $20 billion project in Macau's Cotai site.

The entertainment arm of Lai Sun Group had obtained approval from the Macau government to develop the East Television City project into a casino, hotel and convention centre facility, a source said.

15 Mar 2006 - 12:00am

CapitaLand deal buoys Lai Sun firms

Shares of Lai Sun's group of companies gained as much as 14 per cent yesterday on rumours that CapitaLand might buy a stake in the group's mainland development arm.

The Singapore-listed developer was in talks with Lai Sun Group's mainland unit Lai Fung Holdings for a second property project in China and the deal could result in issuing new shares, market sources said.

10 Mar 2006 - 12:00am

Lai Sun gets Sai Kung project

The family of the late founder of the Lai Sun group, Lim Por-yen, has appointed Lai Sun Development as the project manager for its 21-residence low-rise project in Sai Kung.

The development site is occupied by Asia Television studio which will move to its new headquarters in Tai Po next year.

11 Feb 2006 - 12:00am

Lai Sun eyes $600m fund for land bank

Lai Sun Development, which completed a massive debt restructuring in December last year, hopes to build a $600 million war chest from property sales this year to fund land acquisitions, the company says.

16 May 2005 - 12:00am

Developer posts $1.25b loss after revamp

With huge debt restructuring costs behind it, Lai Sun Development points to surge in interim operating earnings

Lai Sun Development said yesterday it had completed a massive debt restructuring, having refinanced all its borrowings and paid out $1.48 billion in a settlement with bondholders and other creditors.

16 Apr 2005 - 12:00am

Lai Sun shines in Kimberley sales

Lai Sun Development expects to receive up to $700 million from sales of units in a residential project in Tsim Sha Tsui this month.

The firm, which recently completed a major debt restructuring, has received $300 million since Monday by selling 80 of the 168 units in the Kimberley Road project at an average price of $6,400 per square foot.

5 Nov 2004 - 12:00am

ESun approves Lai Sun debt restructure plan

The last piece in Lai Sun Development's major debt restructuring jigsaw was put in place yesterday when eSun Holdings' shareholders approved the plan.

14 Oct 2004 - 12:00am

Debt deal ends Century City saga

Property developer and hotelier puts the Asian financial crisis behind it after securing a $1.79b restructuring agreement

Developer and hotelier Lo Yuk-sui's Century City International Holdings has agreed to a $1.79 billion debt-restructuring programme with creditors, ending a turbulent chapter in the history of Hong Kong business.

12 Oct 2004 - 12:00am

Agreement on debt plan this year, says Lai Sun arm

Highly indebted property developer Lai Sun Development expects to secure an agreement with its creditors for a debt restructuring plan this year, according to company management.

The plan was unveiled as the property firm posted a loss of $167.12 million for the six months to January.

17 Apr 2004 - 12:00am

Debt-hit Lai Sun narrows net losses

Debt-laden property developer Lai Sun Development has narrowed its full-year net loss to $461.04 million from $1.94 billion in the previous year.

The company, which has an estimated net debt of $8 billion, said the lower loss came from a smaller loss of associates.

Loss per share was 12 cents, against 52 cents previously.

8 Nov 2003 - 12:00am


Sun Media chairwoman Yang Lan acquired 182 million shares of her main board-listed company from a shareholder at a consideration of 5 HK cents per share. The new shares represent 1.32 per cent of the issued shares. Ms Yang owns about 380 million shares of the company.

7 May 2003 - 12:00am


Shares in eSun Holdings tumbled sharply yesterday after minority shareholders resoundingly voted down parent Lai Sun Development's HK$79.99 million privatisation bid on Thursday. The stock lost 4.5 HK cents, or 19.57 per cent, to close at 18.5 cents after 1.56 million shares were traded. Lai Sun offered 28 HK cents a share to privatise eSun.

3 May 2003 - 12:00am