<p>[新加坡] Acrophyte Hospitality Trust 的審計師對該新加坡上市的酒店集團能否在 9 月份到期的 1.985 億美元貸款上進行再融資表示懷疑，指出其持續運營能力存在重大不確定性。</p>
<p>審計師指出，儘管該合併集團的管理層已從貸款銀行獲得了非約束性的融資意向，但正式談判和盡職調查預計要等到貸款到期日臨近時才會進行。</p>
<p>因此，任何再融資的時間和條款仍然不確定，管理層在週一（4 月 13 日）的一份交易所公告中表示。</p>
<p>截至 2025 年 12 月 31 日，該合併集團及其房地產投資信託的淨流動負債分別為 1.813 億美元和 1.662 億美元，而其商業信託的淨流動負債為 3340 萬美元。</p>
<p>管理層表示，他們對 Acrophyte Hospitality Trust 能夠獲得所需再融資的能力保持信心，指出貸款銀行在過去的再融資活動中一貫提供支持的良好記錄。</p>
<p>他們還指出，審計意見仍然是無保留的，並且 2025 財年的財務報表仍然是基於信託將繼續運營的前提下編制的。</p>
<p>另見</p>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/b537ffb7a57a3165adf5b4c9fe50795e7df94301b30ba85b263e8b3904766a74/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/b537ffb7a57a3165adf5b4c9fe50795e7df94301b30ba85b263e8b3904766a74/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>危中有機：新海怡 29 歲繼承人如何重塑房地產集團的下一個篇章</h3>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/c01124f37793d3904405614dbf9365322ca3e2e15d4a15354b678dca6004ce27/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/c01124f37793d3904405614dbf9365322ca3e2e15d4a15354b678dca6004ce27/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>Acrophyte Hospitality Trust H2 每股分紅下降 50.7% 至 0.00418 美元，因投資組合規模縮減</h3>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/ec7d4b2abe5b5c03ab215cc75bcfa9183b9a0086e70f9b79aa247ec984af4177/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/ec7d4b2abe5b5c03ab215cc75bcfa9183b9a0086e70f9b79aa247ec984af4177/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>建築公司 GRC 週一上漲 5.3%，在過去一週上漲超過 40% 後</h3>
<h3>在新的全球秩序中導航亞洲</h3>
<p>將洞察力送到您的郵箱。</p>
<p>審計師的擔憂正值 Acrophyte Hospitality Trust 正在進行自 2025 年 5 月啓動的戰略審查。該合併集團正在與其贊助商 Tang Organization（前稱 Chip Eng Seng Corporation）就可能的交易進行談判。</p>
<p>Acrophyte Hospitality Trust 的投資組合包括 31 家高檔精選服務酒店，共有 4061 個房間，分佈在美國 16 個州，品牌包括凱悦、萬豪和希爾頓。</p>
<p>Acrophyte Hospitality Trust 的合併證券在週一的交易中持平，最後交易價格為 0.255 美元。</p>
<p>解碼亞洲通訊：您在新的全球秩序中導航亞洲的指南。點擊此處註冊以獲取解碼亞洲通訊，送到您的郵箱，免費。</p>

亞騰美國酒店

<p>Acrophyte Hospitality Trust 面臨着關於其在九月份到期的 1.985 億美元貸款再融資能力的不確定性，因為審計師對其運營持續性表示懷疑。雖然已經注意到銀行的非正式興趣，但正式談判尚未開始。該集團截至 2025 年 12 月 31 日報告了顯著的淨流動負債。儘管存在這些擔憂，管理層對獲得再融資仍持樂觀態度，指出過去得到了貸款方的支持。該信託目前正在進行戰略審查，並與其贊助商 Tang Organization 進行潛在交易的討論</p>

<p>[SINGAPORE] Acrophyte Hospitality Trust’s auditors have raised doubts about whether the Singapore-listed hospitality group can refinance a US$198.5 million loan that falls due in September, flagging a material uncertainty over its ability to continue operating.</p>
<div class="lb-trans"><p>[新加坡] Acrophyte Hospitality Trust 的審計師對該新加坡上市的酒店集團能否在 9 月份到期的 1.985 億美元貸款上進行再融資表示懷疑，指出其持續運營能力存在重大不確定性。</p>
</div><p>The auditors noted that while the managers of the stapled group have obtained non-binding expressions of interest from lending banks for the refinancing, formal negotiations and due diligence are expected to take place only closer to the loan’s maturity date.</p>
<div class="lb-trans"><p>審計師指出，儘管該合併集團的管理層已從貸款銀行獲得了非約束性的融資意向，但正式談判和盡職調查預計要等到貸款到期日臨近時才會進行。</p>
</div><p>The timing and terms of any refinancing therefore remain uncertain, the managers said in a bourse filing on Monday (Apr 13).</p>
<div class="lb-trans"><p>因此，任何再融資的時間和條款仍然不確定，管理層在週一（4 月 13 日）的一份交易所公告中表示。</p>
</div><p>As at Dec 31, 2025, the stapled group and its real estate investment trust arm reported net current liabilities of US$181.3 million and US$166.2 million respectively, while its business trust arm had net current liabilities of US$33.4 million.</p>
<div class="lb-trans"><p>截至 2025 年 12 月 31 日，該合併集團及其房地產投資信託的淨流動負債分別為 1.813 億美元和 1.662 億美元，而其商業信託的淨流動負債為 3340 萬美元。</p>
</div><p>The managers said they remain confident in Acrophyte Hospitality Trust’s ability to secure the required refinancing, pointing to the lending banks’ track record of consistent support in past refinancing exercises.</p>
<div class="lb-trans"><p>管理層表示，他們對 Acrophyte Hospitality Trust 能夠獲得所需再融資的能力保持信心，指出貸款銀行在過去的再融資活動中一貫提供支持的良好記錄。</p>
</div><p>They also noted that the audit opinion remains unqualified, and that the FY2025 financial statements were still prepared on the basis that the trust will continue operating.</p>
<div class="lb-trans"><p>他們還指出，審計意見仍然是無保留的，並且 2025 財年的財務報表仍然是基於信託將繼續運營的前提下編制的。</p>
</div><p>SEE ALSO</p>
<div class="lb-trans"><p>另見</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/b537ffb7a57a3165adf5b4c9fe50795e7df94301b30ba85b263e8b3904766a74/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/b537ffb7a57a3165adf5b4c9fe50795e7df94301b30ba85b263e8b3904766a74?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>In danger, there’s opportunity: How SingHaiyi’s 29-year-old scion is reshaping the property group’s next chapter</h3>
<div class="lb-trans"><h3>危中有機：新海怡 29 歲繼承人如何重塑房地產集團的下一個篇章</h3>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/c01124f37793d3904405614dbf9365322ca3e2e15d4a15354b678dca6004ce27/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/c01124f37793d3904405614dbf9365322ca3e2e15d4a15354b678dca6004ce27?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>Acrophyte Hospitality Trust H2 DPS falls 50.7% to US$0.00418 on reduced portfolio size</h3>
<div class="lb-trans"><h3>Acrophyte Hospitality Trust H2 每股分紅下降 50.7% 至 0.00418 美元，因投資組合規模縮減</h3>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/ec7d4b2abe5b5c03ab215cc75bcfa9183b9a0086e70f9b79aa247ec984af4177/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/ec7d4b2abe5b5c03ab215cc75bcfa9183b9a0086e70f9b79aa247ec984af4177?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>Construction firm GRC ends 5.3% higher on Monday after over 40% surge in past week</h3>
<div class="lb-trans"><h3>建築公司 GRC 週一上漲 5.3%，在過去一週上漲超過 40% 後</h3>
</div><h3>Navigate Asia in  a new global order</h3>
<div class="lb-trans"><h3>在新的全球秩序中導航亞洲</h3>
</div><p>Get the insights delivered to your inbox.</p>
<div class="lb-trans"><p>將洞察力送到您的郵箱。</p>
</div><p>The auditors’ concerns come as Acrophyte Hospitality Trust is in the middle of a strategic review launched in May 2025. The stapled group is in talks with its sponsor Tang Organization – formerly known as Chip Eng Seng Corporation – over a possible deal.</p>
<div class="lb-trans"><p>審計師的擔憂正值 Acrophyte Hospitality Trust 正在進行自 2025 年 5 月啓動的戰略審查。該合併集團正在與其贊助商 Tang Organization（前稱 Chip Eng Seng Corporation）就可能的交易進行談判。</p>
</div><p>Acrophyte Hospitality Trust’s portfolio comprises 31 upscale select-service hotels with a total of 4,061 rooms across 16 US states, franchised under brands including Hyatt, Marriott and Hilton.</p>
<div class="lb-trans"><p>Acrophyte Hospitality Trust 的投資組合包括 31 家高檔精選服務酒店，共有 4061 個房間，分佈在美國 16 個州，品牌包括凱悦、萬豪和希爾頓。</p>
</div><p>Stapled securities of Acrophyte Hospitality Trust last traded flat at US$0.255 on Monday before the announcement.</p>
<div class="lb-trans"><p>Acrophyte Hospitality Trust 的合併證券在週一的交易中持平，最後交易價格為 0.255 美元。</p>
</div><p>Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.</p>
<div class="lb-trans"><p>解碼亞洲通訊：您在新的全球秩序中導航亞洲的指南。點擊此處註冊以獲取解碼亞洲通訊，送到您的郵箱，免費。</p>
</div>

亞騰美國酒店因 1.985 億美元貸款將於 9 月到期，其維持運營的能力受到質疑