Jakarta – The property crisis in China is not over yet. After Country Garden and Evergrande, property developers who failed their debts, now Redsun Properties Group has the same fate. The company’s debt condition is getting worse. Quoted from SCMP, Monday (19/2/2024), Redsun was reported to have experienced default on several foreign debt securities since … Read more
China has put Hui Ka Yan, the billionaire founder of Evergrande, under police surveillance, meanwhile fears are increasing about the fate of the Shenzhen group, now at risk of survival. This is what Bloomberg reports, anonymously citing people familiar with the situation. Hui, whose name in Mandarin is Xu Jiayin, was taken away by officers … Read more
Jakarta – Plan Evergrande to restructure its large debts was hampered by an investigation into its main subsidiary, Hengda Real Estate Group Co Ltd. This means they cannot issue new debt securities. Reporting from CNN, Tuesday (26/9/2023), Hengda said it was being investigated by the securities regulator for alleged violations of requirements for disclosing information … Read more
The crisis in China’s real estate market is causing serious damage to the country’s entire economy, but a former head of national statistics has put it another way. Even China’s entire population of 1.4 billion people will not be enough to occupy all the vacant apartments in the country, the former deputy head of China’s … Read more
Evergrande collapses on the Hong Kong stock exchange (-25.45% to 0.41 Hk dollars) after declaring in a file on the stock exchange of the former British colony that, in view of the investigation by Hengda Real Estate Group, its main domestic subsidiary, “was unable to meet the requirements for issuing new bonds.” Evergrande’s unit had … Read more
However, that is a halving from the same period last year, when the company lost 66.4 billion yuan, according to a statement published on the website of the Hong Kong Stock Exchange. Evergrande, once China’s top property developer, is struggling with huge debt and has become emblematic of the property crisis that continues to rock … Read more
Jakarta – Trading in stocks of China’s most indebted property giant, Evergrande restarted. The property company’s shares, which owe almost Rp. 5,000 trillion, immediately fell 87%. Trading of Evergrande’s shares was previously locked on the Hong Kong stock exchange since March 21, 2022 or about 17 months ago. As soon as it opened on Monday … Read more
Jakarta – A property agent company from Hong Kong, Centaline Property, said that its unit in mainland China has a large amount of unpaid commissions so it cannot pay commissions to its employees. This is still related to reports of delayed payments to the unit by developers including Evergrande. Centaline’s remarks come as the worsening … Read more
Jakarta – Chinese real estate giant Evergrande, has officially filed for bankruptcy in a court in New York, United States of America. The company has a debt of nearly Rp 5,000 trillion. Evergrande is reported to have debts of up to US$ 330 billion or nearly Rp. 5,000 trillion. which is due. The default that … Read more
According to a lawsuit announced Thursday, the Evergrande Group — which is one of the largest real estate companies in China and is also listed on the Hong Kong and Wall Street stock exchanges — filed Thursday evening for Chapter 15 bankruptcy protection in the District Court. Southern from New York. This came after Evergrande … Read more