<div id="readability-page-1"><div>According to Bloomberg, citing sources, after SHIMAO GROUP (00813.HK) 0.000 (0.000%) defaulted on a loan totaling HKD4.5 billion, multiple banks are planning to take over the Sheraton Tung Chung Hotel and Four Points by Sheraton Tung Chung located near Hong Kong International Airport.It is understood that the lending banks are in advanced discussions regarding the appointment of receivers to take control of the assets, in order to accelerate asset disposals and recover funds. The original lenders for the project included HSBC HOLDINGS (00005.HK) 0.000 (0.000%) Short selling $650.59M; Ratio 15.623% , BOC HONG KONG (02388.HK) 0.000 (0.000%) Short selling $96.64M; Ratio 14.626% and BANK OF E ASIA (00023.HK) 0.000 (0.000%) Short selling $1.69M; Ratio 7.416% , among others. (mn/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-05 16:25.)</div></div>

00813

HSBA

HSBC

02388

00005

Shimao Group reportedly defaulted on a HKD4.5 billion loan, prompting multiple banks to plan the takeover of two Sheraton hotels in Tung Chung. Lenders are discussing appointing receivers to accelerate asset disposal and fund recovery. The original lenders included HSBC, Bank of China Hong Kong, and Bank of East Asia.

- SHIMAO GROUP defaulted on a HKD 4.5 billion loan, prompting several banks to take over the Sheraton Tung Chung Hotel and Four Points by Sheraton Tung Chung near Hong Kong International Airport.  
- The banks are in advanced discussions to appoint receivers to manage the assets for quicker disposals and fund recovery.  
- Original lenders include HSBC, BOC Hong Kong, and Bank of East Asia, among others.

AASTOCKS News

SHIMAO GROUP

HSBC Holdings Plc

BOC HONG KONG

HSBC HOLDINGS

BANK OF E ASIA

HSBC 5xShortSG241213

Bank of China

BANK OF CHINA

Bank Of China

SHIMAO GROUP  Reportedly Defaults on HKD4.5B Loan; Two Sheraton Hotels in Tung Chung May Be Taken Over