YNH Property

[winston]

vested

YNH Property in 'technical default' for Islamic MTN programme; MARC cuts rating further

By Chester Tay

The rating action reflects MARC Ratings’ heightened concerns on YNH’s continued weak financial position, the lack of meaningful earnings visibility and the protracted delays in asset disposals.

YNH has an outstanding RM323 million under the rated programme, of which the first tranche of RM153 million will mature on Feb 28, 2025,

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/707425

[winston]

vested

YNH Property says independent review of its JV, turnkey agreements needs more time

By Hee En Qi

The independent review was requested last year by YNH’s then external auditor Messrs Baker Tilly Monteiro Heng PLT over a RM1.1 billion sum the group paid to JV parties or landowners for property development work.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/707997

[winston]

YNH reaffirms bondholders with remedied technical defaults

YNH clarified that they have successfully remedied the technical default mentioned in the MARC Ratings announcement dated April 8.

“The balance for the second monthly payment due April 26 has also been met by topping up the fund in the SPA Account”.

YNH also explained that the sale of Kiara 163 Retail Park is currently in its final stages and is pending shareholders’ approval at the upcoming extraordinary general meeting (EGM).

Source: The Star

https://www.thestar.com.my/business/bus ... l-defaults

[winston]

vested

YNH makes belated announcement about transactions involving its Segambut land

By Hee En Qi

6.49-acre land in Segambut, which it had inked an agreement in September last year to sell for RM59.58 million but revoked last week to have Chin Hin Group Property Bhd develop the plot in return for at least RM52 million.

The project, said YNH, is estimated to cost RM575 million to develop. It is expected to commence in July 2025 and complete in June 2030.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/709821