We’ll be curating stories from management guru John Bittleston and making them free to read.This includes depreciation and amortisation – a significant non-cash expense, interest expense, and certain operating expenses relevant to UCQ as a property owner, which would not be incurred by theIt added that the interest expense noted in the 2018 audit corresponds to a debt facility that has since been extinguished as part of the IPO.
EHT further clarified that UCQ's 2018 operating performance was hit by US$23.5 million of renovations and operational disruptions. The disruptions hurt revenue drivers Ghost and Legends tour and the Sir Winston's Restaurant and Lounge, which were out of service for significant parts of 2018, but have since become operational in 2019.
In addition, EHT flagged a statement in the article on"substantial doubts" about UCQ's ability to continue as a going concern. It added that the"loss" referenced is less applicable to EHT as the 2018 debt held at UCQ had been repaid in full.to be conducted by the City of Long Beach's auditor relating to the 2017 and 2018 calendar years.
EHT stapled securities were trading 1 per cent or 0.5 US cent lower at S$0.51 on Monday as at 12.46pm.
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