Bye now! ——"Singapore New Century Cruises"
2023-06-22 06:41
New Century Group (00234.HK) announced that on April 28, 2023, the seller, New Century Maritime Limited (an indirect non-wholly owned subsidiary of the company), entered into the agreement with the buyer, Mr. Peng Bingyi.
Accordingly, the seller agreed to sell the entire issued share capital of the target company Kingston Maritime Limited and the sale loan at a consideration of S$ 7.65 million (approximately RMB 39.59 million), and the completion was implemented immediately after signing the agreement.
The target company is mainly engaged in cruise ship investment, and its main asset is the cruise ship Aegean Paradise, which was built in 1990 and has a capacity of 1,600 passengers. It has provided ocean travel services in Indonesia, Malaysia and Singapore. On July 24, 2015 More than 22 million U.S. dollars (about 150 million yuan) were purchased.
After carefully considering the impact of the Target Company on the financial performance of the Group, the Directors believe that the Disposal can reduce the Group's losses and realize its investment in the Target Company. The Disposal will also allow the Group to simplify its operations and provide an opportunity for the Group's capital to be deployed in other major businesses.
Upon Completion, the Group has terminated the business of cruise ship leasing services and no longer owns any cruise ships , and will focus on the Group's remaining principal business.
https://min.news/en/economy/3ec07cf8b04e22fbdf90c4836592ec7c.html
Investor Buyer Mr Peng Bingyi got a bargain fire sale .
Fatty Chairman bought AP at USD 22 Million and sold to Mr Peng at usd 7,65 million.
https://min.news/en/economy/3ec07cf8b04e22fbdf90c4836592ec7c.html
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Bye now! ——"Singapore New Century Cruises"
New Century Group (00234.HK) announced that on April 28, 2023, the seller, New Century Maritime Limited (an indirect non-wholly owned subsidiary of the company), entered into the agreement with the buyer, Mr. Peng Bingyi.
Accordingly, the seller agreed to sell the entire issued share capital of the target company Kingston Maritime Limited and the sale loan at a consideration of S$ 7.65 million (approximately RMB 39.59 million), and the completion was implemented immediately after signing the agreement.
The target company is mainly engaged in cruise ship investment, and its main asset is the cruise ship Aegean Paradise, which was built in 1990 and has a capacity of 1,600 passengers. It has provided ocean travel services in Indonesia, Malaysia and Singapore. On July 24, 2015 More than 22 million U.S. dollars (about 150 million yuan) were purchased.
After carefully considering the impact of the Target Company on the financial performance of the Group, the Directors believe that the Disposal can reduce the Group's losses and realize its investment in the Target Company. The Disposal will also allow the Group to simplify its operations and provide an opportunity for the Group's capital to be deployed in other major businesses.
Upon Completion, the Group has terminated the business of cruise ship leasing services and no longer owns any cruise ships , and will focus on the Group's remaining principal business.
Since 2019, the global outbreak of the coronavirus pandemic has seriously affected the operation of the Group's cruise ships. Since the governments of Singapore and Malaysia have implemented border closures, travel restrictions and mandatory quarantine measures since mid-March 2020, the cruise ship has suspended its cruise operations.
During the period of suspension of operations, New Century Group was not only unable to collect rental fees and had no income. Even from mid-March 2020, the group will need to pay a special subsidy of 5,000 Singapore dollars per day (equivalent to about 29,000 Hong Kong dollars per day) for the maintenance of cruise ships, resulting in losses.
In 2021, we have a feeling that the remaining Aegean Paradise will definitely not be kept, and then it is a matter of time. Sure enough, with the sale of the last ship of New Century Cruises, the "Asian Cruises" recruiting trump card channel "Singapore Cruises", which was once hyped by domestic sea travel agencies/schools, also disappeared in the cruise line just like "Hong Kong Cruises". In the long river of history...
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