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Donaco International Ltd (ASX:DNA) Quarterly Activities - Cashflow Report
FRA:UGS) provides the following trading update for the three-month period ending 31 December 2020. Since the reopening of the Star Vegas Resort and Club ( Star Vegas ) in Cambodia in late September, and the Aristo International Hotel ( Aristo ) in Vietnam, the December quarter was a turnaround period for Donaco with a return to positive EBITDA of A$3.70m and negative EBITDA of A$0.13m respectively, resulting in positive EBITDA of A$3.57m for the overall group. The result was driven by a number of strategic initiatives executed by the new Board and Executive team to weather the impact from the pandemic, including a shift in customer targeting, with a renewed focus on attracting clientele from the local region to Star Vegas, to in turn reduce international staff expenses. This was combined with a continued cost control strategy, including the adjustment of service provider agreements, ....
Donaco International Ltd (ASX:DNA) Lender Approval Received for Star Vegas Settlement
Lender Approval Received for Star Vegas SettlementSydney, Dec 22, 2020 AEST (ABN Newswire) - Donaco International Limited ( FRA:UGS) is pleased to announce securing the approval from lender Mega Bank on the settlement of all legal cases for the Star Vegas Resort and Club ( Star Vegas ). The waiver is in relation to the successful settlement of all legal cases with the Thai Vendor as part of the provisions of a Facility Agreement with the lender. Donaco is extremely pleased of securing this approval as the Company continues to work with Mega Bank and pay down the debt facility under the agreement. ....
Donaco International Ltd (ASX:DNA) Returns to Positive EBITDA as COVID-19 Impacts Subside
Returns to Positive EBITDA as COVID-19 Impacts SubsideSydney, Dec 18, 2020 AEST (ABN Newswire) - Donaco International Limited ( Highlights - Donaco delivers two months of positive EBITDA for October and November 2020, with the trend continuing into December - Driven by business initiatives implemented by the new Board and Executive team including a shift in customer targeting, alongside continued cost control strategy - Donaco remains confident in securing Mega Bank approval for a waiver on the settlement of all legal cases with Thai Vendor - Continued paying down of debt with Mega Bank resulting in bank loan decreased by USD$5 million with the Company currently on track to pay down all remaining debt in FY21 ....