• Shimao Group’s Sheraton Hong Kong Tung Chung Hotel assets entered receivership on June 1, with AlixPartners’ Jun Ge and Patrick Bance appointed.
• Receivers were appointed by the security agent under debenture and mortgage security for a syndicated project loan signed July 27, 2020, later amended June 28, 2023.
• A formal sales process has started, with an international real estate agent hired to market the hotels and maximize recoveries.
• Hotel operations remain uninterrupted, with management cooperating with the receivers.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Shimao Group Holdings Limited published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: 2774C0SK9MTLQE91) on June 24, 2026, and is solely responsible for the information contained therein.