Operated of The 13 Hotel in Macau, South Shore Holdings could lose its engineering company in the near future due to accrued debts. Paul Y. Engineering Group Limited is set to be taken over by a lender to South Shore after it was revealed the lender decided to use its right to sell all shares in a subsidiary of the operator.
On Sunday night, information regarding the actions by the lender was made public. The lender is demanding that the company pay its outstanding loans in full. The amount of the loan totals HK$593 million ($76.4 million).
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South Shore asked for trading to stop late last week and as trading was set to resume, a filing revealed that the company had been sent a letter from