SRE Group is seeking a buyer for its 51 percent stake in a mixed-use project in Shanghai, as the unit of China Minsheng Investment Group tries to stem escalating losses in the wake of an embezzlement scandal that saw its… Read More>>
China’s SRE Group Says Chairman Detained by Mainland Police
Developer SRE Group Ltd informed the Hong Kong stock exchange today that its chairman, Peng Xinkuang was temporarily unable to perform his duties after having been detained by police in mainland China.
The real estate development subsidiary of financially troubled… Read More>>
CMIG Debt Crisis Triggers RMB 8.7B Default at Dalian Developer Yida China
Hong Kong-listed Yida China announced on 22 April that a financial crisis at its parent company had left it facing a default on loans with an outstanding principal of RMB 8.75 billion ($1.3 billion), with the developer saying it has yet… Read More>>
Minsheng Investment Sells Shanghai Project to Greenland for RMB 12B After Default
China Minsheng Investment Group (CMIG) has sold its 50 percent stake in a mixed-use project in Shanghai’s South Bund area to Greenland Group for RMB 12 billion ($1.77 billion), disposing of the high-profile site at an apparent loss as it… Read More>>
China Minsheng Investment Names CP Exec as Co-Chair After Bond Default
China Minsheng Investment Group (CMIG), the country’s largest privately owned investment group, on Monday appointed Charoen Pokphand Group vice chairman Yang Xiaoping as its new co-chairman, after corruption investigations into its previous directors left a leadership gap that may have… Read More>>
PE Unit of China Minsheng Misses Bond Payment and More Asia Real Estate Headlines
Our new year starts out with signs of struggle for a private equity unit of one of China’s biggest finance groups, as media reports emerge that China Minsheng Investment Group, the parent firm of Hong Kong-listed developer SRE Group, has… Read More>>
China Minsheng Sells Half-Stake in London Projects for $40M
China Minsheng Investment Group’s Hong Kong-listed real estate arm SRE Group has offloaded a half-stake in a pair of London properties for a total of £29.5 million ($40 million), six months after the company’s chairman stepped down following reports of… Read More>>
Boss of China Minsheng Real Estate Unit Out After China Jinmao Raided by HK Anti-Graft Body
The chairman of a Hong Kong-listed developer controlled by China’s largest privately owned investment group abruptly stepped down this week, on the same day that the executive’s former employer revealed that it had been raided by Hong Kong’s anti-graft body.
Asia Real Estate People in the News 2017-07-24
During this week of killer Shanghai heat and disappearing Hong Kong typhoons many of Asia’s real estate professionals are finding shelter in new offices, including a valuation professional landing a new home with one of China’s fastest-growing private equity groups… Read More>>
China Minsheng Acquires London Office Complex From Société Générale
China Minsheng Investment purchased Société Générale’s central London headquarters from the French bank for £84.5 million ($112.8 million) through its Hong Kong-based subsidiary SRE Group. According to a statement by SRE Group to the Hong Kong stock exchange, the deal… Read More>>