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$89m Malaysian Hospitality Portfolio Re-Structure

Following the early on-set of COVID we where approached to assist in the refinance of 2, 5* hotels and 1, 4* across Malaysia.

A Kuala Lumpur–based intermediary was seeking to restructure existing facilities across a three-asset Malaysian hospitality portfolio held within a Malaysian corporate structure.

Director experience (under Smart-Junger Group) involved structuring a potential refinancing solution across a portfolio with an aggregate asset value of c.$154.6M.

The mandate centred on securing more competitive debt terms while addressing incumbent lender single-client exposure limits and preserving operational cash flow stability. The portfolio comprised two income-producing hotel assets operating under leaseback arrangements and a third asset held for strategic optionality. The proposed structure modelled a blended c.58% LTV across the consolidated portfolio, with projected annual lease income exceeding $7.5M and consolidated servicing cover ranging between approximately 129% and 165%, demonstrating strong debt capacity and covenant resilience.

Our engagement was undertaken on a consultative, non-advisory basis, focused on capital stack configuration, refinancing sensitivity modelling, AER scenario analysis, servicing cover stress-testing, and preparation of lender-ready outputs in both MYR and USD to broaden institutional funding appetite.

The transaction was presented to an Australian-based hedge fund and to Goldman Sachs for institutional review. Engagement progressed to credit consideration stage; however, broader macro-political risk conditions in Malaysia at the time constrained lender appetite.

The mandate demonstrates Director-level capability in structuring institutional-scale, cross-border hospitality refinancing transactions, combining disciplined leverage modelling with bank-ready financial analysis tailored for global capital providers.

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