Tag: bonds
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Maltese markets are not correctly pricing distressed assets
Not enough public debate has been made about the Smart City project which Keith Schembri and his friends then turned into Shoreline Mall. The project, which involved handing out public land to a group of speculators and investors, mimics the project of MIDI at Tigné Point and Joseph Muscat’s administration seems to have tried to…
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Creating a dangerous precedent in markets by bailing-out toxic garbage
The Labour Party is extensively changing Malta’s social contract, skewing it in favour of the richest and the strongest at the expense of the weakest and the smallest, and the latest tweak that the Labour government is introducing is its new dangerous precedent of bailing out bondholders and shareholders of bad investments gone wrong. The…
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EXCLUSIVE: No guarantee by Shoreline director that bondholders are to be paid
One of the directors of Shoreline Mall, a real-estate project in Smart City, Kalkara, currently led by Kevin Deguara and his associates, has told The Maltese Herald that he can not confirm whether bondholders of the 4% secured bonds maturing in August are to be paid. The bonds are currently trading at 97% of their…
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No crying in the (rent-seeking) casino
Apparently, some self-declared local financial experts are calling the press to spread panic over the fact that MIDI’s bond-holders may end up with nothing as the company fails to meet its financing requirements and has no capability of repaying its debts and creditors. A Maltese bank that was to finance MIDI’s project at Manoel Island…
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Bank of Valletta approached by investors to buy HSBC Malta
Updated: After the announcement issued by BOV, the Finance Minister gave comments to the press outside Parliament and said that he is against a situation where one of the two largest retail banks merges with another as this would erode the competitivity of the banking sector. Following the Minister’s comments, BOV issued a statement saying…
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Tum Invest has issued €12 million in bonds to pay debts, and finance their businesses
Tum Invest, an off-shoot from Tumas Group that is fully owned by Anthony Fenech has issued €12 million in bonds at 5.2% for 10 years on the Malta Stock Exchange. Tum Invest claimed that the money was to be spread and used across their companies and business activities but up to €3.8 million of the…
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Neville Curmi’s business: selling junk bonds of distressed assets on the Malta Stock Exchange
Neville Curmi of Curmi & Partners  sold unwitting clients debt to bail-out out a distressed business and property speculator in the UK called Hart Capital. It is supposedly owned by a man called Christon Jon Burrows, but he seems to be just a front for a least 64 companies listed on the UK business register. The…
