Sinic Holdings becomes latest firm to get caught up in Evergrande’s downward spiral October 5, 2021 Sinic Holdings has become the latest firm to be caught up in the downward spiral set off by Evergrande, the Chinese behemoth considered too big to fail by market analysts. Fitch ratings downgraded Sinic today after it defaulted on its debt interest payment. The firm is uncertain to honour a $246m bond repayment due later [...]
Beijing steps in as Evergrande collapse becomes imminent December 7, 2021 For months Chinese property giant Evergrande has been collapsing in slow motion. Now state officials have stepped in.
Debt ridden Evergrande races to finish building homes December 27, 2021 Embattled Evergrande has vowed to build four times as many housing units in December than it did in the previous three months.
China’s Evergrande: not so grand financial statements? December 15, 2021 Evergrande Group is the latest listed company to unexpectedly find itself on the verge of bankruptcy. When businesses are thrust into public view for the wrong reasons, my first thought is always whether trouble could have been coming. To see if the Chinese property development giant’s travails could have been anticipated, I looked at its [...]
Evergrande leaves more creditors empty handed October 12, 2021 Creditors to heavily indebted Chinese property giant Evergrande have not received around $150m in debt repayments that were due on Monday. The latest round of repayment miss was the third in as many weeks, increasing the likelihood that Evergrande will collapse soon. Evergrande has an October 18-19 debt payment deadline that will push into official [...]
Outcry: Chinese creditors sue collapsed Evergrande for $13bn December 16, 2021 Chinese creditors have sued collapsed property giant Evergrande for more than $13bn (£9.7bn) for alleged overdue payments.
Sinic Holdings becomes latest firm to get caught up in Evergrande’s downward spiral – CityAM : CityAM October 5, 2021 Sinic Holdings has become the latest firm to be caught up in the downward spiral set off by Evergrande, the Chinese behemoth considered too big to fail by market analysts. Fitch ratings downgraded Sinic today after it defaulted on its debt interest payment. The firm is uncertain to honour a $246m bond repayment due later [...]
Debt ridden Evergrande moves Shenzhen head office to cut costs January 11, 2022 Evergrande has opted to move its head office in a bid to save cash as the company seeks to complete building work and repay investors.
Chinese local government intervenes in Evergrande crisis September 27, 2021 While Beijing has stayed quiet on the Evergrande debt crisis at least two local governments in China have seized control of company funds. A housing bureau in Guangzhou asked an Evergrande subsidiary to put presale revenue from a halted development project into a state-controlled account to protect the interests of homebuyers, the Financial Times first [...]
Evergrande executives redeemed investment products in advance September 18, 2021 Six executives of China’s beleaguered real estate giant Evergrande redeemed some of the company’s investment products in advance earlier this year. The executives made early redemptions of 12 investment products, between May 1 and September 7, the property group said in a statement on Saturday. The statement on the group’s website did not identify the [...]