Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Sunac Drops Yurun Talks as 3rd Takeover Bid Fizzles
Sunac China Holdings Ltd., the Chinese developer that dropped a takeover bid for Kaisa Group Holdings Ltd. this year, called off talks to form a partnership with a indebted foodmaker and will let its chairman try to cut a deal instead.
The process for getting approvals for an arrangement with Yurun Holdings Group Co., a meat producer with diversified operations including real estate, would be “lengthy and time-consuming” and involve “complex documentation,” so a pact can’t be completed in a time frame acceptable to Yurun, Sunac said in a Hong Kong stock exchange filing on Friday. Read more>>
Chinese Investors Turn to Hawaii For Next Round of Home Sales
Wu Zheng loves the waves and the beaches in Hawaii. He loves the moderate temperatures and its short, relatively speaking, nine-hour flying distance from his home in Shanghai.
But most of all, he loves the 4.5 square kilometres of land his company hopes to help transform into The Villages of ‘Aina Le’a, a new development on the northwestern shore of the Big Island. Read more>>
Chinese Developer Results Show Industry Stabilising Says Moody’s
Moody’s Investors Service says that the financial metrics of Moody’s-rated Chinese property developers in the first half of 2015 (1H 2015) were largely stable — and in line with Moody’s expectations — when compared with the developers’ financial metrics at year-end 2014.
Looking ahead, Moody’s expects these developers to show moderate revenue growth of around 10%-15% and stable financial metrics for full year 2015. Read more>>
Wanda Project Begins Sales on Australia’s Gold Coast
A buyer from Hong Kong and a Sydney couple have signed contracts for two luxury apartments totalling more than $7 million in Chinese partners Dalian Wanda and Ridong Group’s Jewel project on Queensland’s Gold Coast, as marketing kicks off on the $1 billion triple tower development.
Wanda Ridong Group has held a series of functions in Sydney, Hong Kong and mainland China over the past week, with a further soft launch today. Read more>>
Moody’s: Rising Mall Vacancies Negative for China CMBS
Moody’s Investors Service says that various pressures on the values of malls in China are credit negative for Chinese CMBS as the situation will make it more difficult for obligors to refinance their loans at maturity.
The growing popularity of online shopping further hampers the sales performance of brick and mortar retailing. Stores that compete directly with online sales are suffering from a large drop in business, and some have been forced to close, Moody’s commented in a statement. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
Leave a Reply