Legal battles push viruses out of the headlines today as Korea’s Mirae Asset Management fires a fresh salvo in a court battle with China’s Dajia Insurance over a failed $5.8 billion hotel deal.
Also finding space in… Read More>>
Wanda’s AMC Facing Imminent Default as COVID-19 Empties Movie Theatres
American movie theatre chain AMC Entertainment Holdings Inc is said to be close to bankruptcy, eight years after Chinese conglomerate Dalian Wanda bought the Kansas-based company for $2.6 billion.
Shares in the NYSE-listed firm closed down 20 percent to $2.08… Read More>>
Investigation Finds Luckin Coffee Faked $310M in Sales and More Asia Real Estate Headlines
Greater China’s shopping situation was messy in the first quarter but Q2 might be on its way to surpassing the record retail wreckage of the first three months of 2020, as Luckin Coffee suspends its COO after an internal investigation… Read More>>
Wanda Sports Offloads Ironman for $730M After Stock Value Halves
Wanda Sports Group has agreed to sell its Ironman franchise to the owner of publishing house Conde Nast, just eight months after the company controlled by Chinese billionaire Wang Jianlin suffered 2019’s second-worst NASDAQ debut.
The sports and media unit… Read More>>
Dalian Wanda Faces $5.7B Debt Bill and More Asia Real Estate Headlines
A debt-laden mainland developer leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that the company founded by billionaire Wang Jianlin needs to re-finance $5.7 billion of debt maturing this year.
In other news… Read More>>
Wanda Led China’s Top 10 Commercial Developers Again in 2019
Wang Jianlin’s Dalian Wanda Group may have been forced to unwind its overseas ambitions, but the billionaire’s property business in mainland China shows no signs of flagging after it hauled in operating income more than double that of its closest… Read More>>
SRE Group Directors Charged with Embezzlement and More Asia Real Estate Headlines
Embezzlement leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that the chairman of SRE Group, who was detained in January, has now been formally charged with embezzlement, along with an executive director of… Read More>>
Oyo Losses Widen to $335M on China Expansion and More Asia Real Estate Headlines
SoftBank-backed losses lead the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that Masayoshi Son’s favourite budget hotel chain has reported that its net losses reached $335 million for the year ended 31 March 2019.
Singapore Office Rents Slide 3.2% in Q4 and More Asia Real Estate Headlines
Investors in Singapore’s commercial property sector got a bit of bad news today as a monthly index showed office rental rates beginning to fall more quickly in the city centre. Also getting some ink today, China Evergranded added $2 billion… Read More>>
Asia Real Estate People in the News 2020-01-06
In this week’s edition of People in the News, the mainland China arm of Hong Kong-listed New World Development has made some top-level changes, while a Beijing-based property group has appointed a group president following the retirement of the previous… Read More>>
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