Management said they will make further announcement on the development of both Hospitality Properties. There is no reason not to do so, since all staffs and shareholders are eagarly looking forward to this positive annouccement.

" The Group will make the necessary announcements on SGXNET if there are any updates to the developments of the two hotels and/or the Group&rsquo s plans. Apart from this, the Group will continue to look for the right opportunities to diversify its businesses to create revenue streams. "

Bro, the US$10m is the credit facility provided by the Boss to the company at a fixed interest rate of 5% per annum.

肥 水 不 流   外 人 田

From AR2022

Management is of the view that the Group and the Company will continue to operate on a going concern and there is no material uncertainty related to these events or conditions that may cast significant doubt on the Group and the Company& rsquo s ability to continue as a going concern, having assessed the following sources of funding available to the Group for the next 12 months from the end of this financial period, after taking into account various factors, including the following:

1)The unutilised committed borrowings from shareholders amounting to approximately S$9,128,489 and
2)The unutilised bank borrowing facilities of $1,265,395 as at 31 December 2022 to finance the construction of the projects in Regis Bay and HAP.
3)Repayment of loan from related party be extended for another 12 months or beyond, until such time refinancing is obtained from other financial institution(s), whichever is the later (Refer to announcement & ldquo Entry into loan agreement with an interested party& rdquo made on 20 September 2022)
4)Non-controlling interest proportionate contribution to the cost for both developments in Vietnam.

*********

Due to the construction of the 2 Hospitality Assets and the Covid-19 disruption, Adventus did not recognise any revenue for the past 5 years and share price was beaten down to current level.

For immediate and foreseeable future, things can just get better from here and share price should trend higher when both the properties starts recognising revenue and profits.

Some Stale Bull To Clear Though.