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Bond Market News
Far East Consortium Extends Agreement With Star Entertainment
July 8, 2025
Far East Consortium has extended its agreement with The Star Entertainment, moving the Queen’s Wharf Brisbane project termination deadline to July 31. The Star is planning its exit from the project. As part of the revised terms, The Star will repay about HKD 51.3mn ($6.54mn) to joint venture partners by early August or by transferring its 33.3% stake in Tower 1 to the JV. The Star is also required to cover 50% of partner loans to the project, totalling HKD 274mn ($34.9mn) . The Star Entertainment Is adjusting its investment strategies, focusing on more sustainable opportunities and realigning with broader global economic trends.
The partnership was originally formed in 2015 to jointly develop the AUD 3.6bn ($2.3bn) Queen’s Wharf precinct, with The Star teaming up with Hong Kong’s Far East Consortium and Chow Tai Fook. But after years of mounting regulatory challenges and financial pressure, The Star is now stepping back to refocus its efforts and simplify its portfolio.
Far East’s 12.814% Perp is currently down by 3.3 points and trading at distressed levels of 50.26 cents on the dollar.
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