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macau legend (01680.HK) investment project in Cape Verde hotel entertainment center has been terminated
macau legend (01680.HK) announced that it has received notification from the government of Cape Verde regarding its decision to terminate the convention and grant agreement of its subsidiary in Cape Verde (which involves the construction and operation of a hotel entertainment venue and hotel residence infrastructure). The reason is that the subsidiary in Cape Verde did not meet the deadline requirements set for the investment project under the convention, nor did it complete the investment project as agreed. As of June, the carrying value of the related assets is approximately 47 million yuan, and management will assess the impairment provision accordingly.
Macau Legend Faces Project Termination in Cape Verde
Macau Legend (01680.HK): The government of Cape Verde intends to terminate the convention and grant related to the construction of a hotel entertainment complex and hotel residences.
On November 22, 2023, macau legend (01680.HK) announced that on the evening of November 19, 2024, the company received notice from the Cape Verde government ("Cape Verde government") that it decided to terminate the charter and its supplementary documents established by MLD Cabo Verde Resorts SA and MLD Cabo Verde Entretenimento SA (collectively referred to as "Cape Verde subsidiaries", which are indirect subsidiaries of the company mainly engaged in the operation of hotels and gambling business in Cape Verde) with the government of Cape Verde.
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In the first ten months, the passenger volume of Macau International Airport increased by 56.9% annually to 6.34 million people.
Macau International Airport data shows that in the first ten months of this year, the number of passengers reached 6.34 million, an increase of 56.92% year-on-year; there were 0.049 million takeoffs and landings, an increase of 49.37% year-on-year. Compared with the same period in 2019, the number of passengers and takeoffs and landings have recovered by approximately 80% and 78% respectively. In the first three quarters of the year, passengers entering Macau with international passports accounted for 15% of the total inbound passengers at the airport, doubling year-on-year, indicating that Macau International Airport is gradually recovering and moving towards new heights of development.
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