Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Country Garden Plans $233 Mil Bond to Fund Malaysian Mega-Project
A debut Islamic bond by a Chinese issuer in Malaysia looks set to be clouded by concerns about oversupply of property in both countries.
Country Garden Holdings, majority-owned by billionaire Yang Huiyan, plans a sukuk programme of at least RM1 billion (S$327 million) to finance an integrated resort project in Johor, the worst hit by Malaysia’s biggest supply glut in 10 years. Read more>>
Chinese Developer’s $600M NYC Project Could be Headed to Foreclosure
The $600 million debut project for Chinese-backed US developer Kuafu Properties only got started less than a year and a half ago ago on New Yorks 11th Avenue.
Today, Hudson Rise has become one of the most talked about developments in the city—but not in the context of its progress. A soured joint venture and its subsequent lawsuits left the plot of land on 11th Avenue vacant, court dockets full and news outlets further antagonizing tensions. Read more>>
Shanghai Tops in Outbound Direct Investment
Shanghai leads the country in outbound direct investment (ODI), with last year’s ODI surging 1.85 times to $12.29 billion, said consulting firm Ernst & Young in its latest report.
In the first six months this year, the city saw another 3.2 times year-on-year increase in the ODI filed to $23.95 billion. Leasing and commercial service, real estate, manufacturing as well as information technologies are the leading sectors that attracted the city’s ODI, according to Ernst & Young. Read more>>
BlackRock Secures $400 Mil Boost in China Investment Quota
BlackRock Inc has secured an additional $400 million quota to invest in Chinese markets, in one of the largest one-time approvals granted by the authorities to invest in the mainland.
BlackRock, the world’s biggest asset manager, said in a statement on Monday the move by China’s State Administrator of Foreign Exchange would take the Qualified Foreign Institutional Investor (QFII) quota available to it to $1.25 billion. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for more news as it happens.
Leave a Reply