SJM daily cash burn HK$22m, loan refinancing to provide HK$6b liquidity: MS

SJM Holdings is currently burning through about HK$22 million ($2.8 million) cash a day and if its loan refinancing is approved it will get another HK$6 billion in liquidity, Morgan Stanley said.

The firm made its comments in a note on the Virtual China Summit. SJM, which is seen as the weakest of Macau’s six concession holders, has daily operating expenses of about $16 million. It then has 2022 interest expense of $700 million and maintenance capital expenditure of $500 million.

The company currently has a cash balance of $1.75 billion, which is enough to support three months of zero revenue.

Source: https://agbrief.com/news/macau/30/05/2022/sjm-daily-cash-burn-hk22m-loan-refinancing-to-provide-hk6b-liquidity-ms/