Hidili Debt Deemed ‘High Risk’ as Bank Negotiations Loom: Lucror
2014-04-01 04:57:54.64 GMT
By David Yong
April 1 (Bloomberg) -- Hong Kong-based coal miner Hidili Industry International Development, facing a cash crunch, may be reliant on banks extending the maturity of short-term loans, Lucror Analytics says in report today.
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Current liabilities exceeded current assets by 3b yuan ($484 million) in 2013
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Co.’s capital commitments contracted for 2014 total 455 m yuan. FY2013 revenue dropped 55% to 729.1m yuan, while net loss was 424.7m yuan
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2013 revenue decline affected by sales of some assets in Yunnan and closure of a coking coal plant in Panzhihua whose technology was deemed obsolete by regulators: report
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Co.’s U.S. dollar 8.625% notes due November 2015 considered “very high risk”
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Bonds fell 4 cents to 57.02 cents on the dollar yesterday, lowest since Aug. 23; yield surged to 51.4% from 45.7%: Bloomberg-compiled prices show
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