Hong Kong-listed Suncity Group has kicked in a US$34 million loan to a subsidiary, Gold Yield Enterprises Ltd. (GYE), to help complete its Hoiana integrated resort project in Vietnam.
In a statement, Suncity said, “In light of the increasing demand for tourism-related business in the Southeast 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. It is necessary for GYE to have sufficient fund for its future business development and to meet its capital needs.”
The loan is the latest in a series of capital infusions provided by Suncity Group via its wholly owned subsidiary Star Admiral Ltd. and fellow stakeholder Alpha Era Investment Ltd.
A Hoiana website describes the project as “Vietnam’s premier lifestyle destination, with four luxury hotels and a Robert Trent Jones golf course “set against a spectacular coastline and unspoiled natural terrain.” It is located south of Hoi An and Da Nang in Quang Nam Province.
