Central banking leads this week’s collection of personnel moves from around Asia, with Hong Kong renewing the head of its monetary authority for a fresh term. Also making the list is fresh China leadership for Singapore’s Mapletree and a new… Read More>>
Mainland Developer China South City Says Full-Year Loss Could Reach $640M
China South City Holdings warned Monday that its fiscal 2023 after-tax loss could range from HK$4 billion to HK$5 billion ($510 million to $640 million), with the alert coming on the heels of the Shenzhen developer’s latest loan defaults last… Read More>>
Asia Real Estate People in the News 2022-12-19
Top level changes at a pair of Hong Kong-listed developers lead this week’s collection of personnel moves from around Asia, as the head of Shanghai-based builder trims back his role and a Hong Kong firm adds some diversity to its… Read More>>
Hong Kong Home Sales Jump 44% in March and More Asia Real Estate Headlines
News of rising interest rates bounced off the bulletproof confidence of Hong Kong home buyers last month like facts being flung aside at a Washington press conference, as home sales in the Asian financial hub leapt 44 percent compared to… Read More>>
Glorious Property Misses Bond Payment and More China Real Estate Headlines
Leading the news today, troubled Chinese developer Glorious Property has missed a bond payment exactly one year after an early default that was resolved once bondholders got lawyered up. Also in the headlines, Hong Kong homebuilders seem in a hurry… Read More>>
Li Ka-Shing’s CK Denies Tiff With SHK’s Kwok and More Greater China Real Estate Headlines
Two of Hong Kong’s biggest developers deny getting into a dispute over a residential project, while Blackrock chief Laurence Fink admits to worries over Chinese debt. Meanwhile one of China’s most beleaguered developers is suspected of playing dead so that… Read More>>
Glorious Property Misses Payments on $1.02B in Debt
Hong Kong-listed real estate developer Glorious Property could become the latest victim of China’s property crunch after the mainland builder disclosed last week that its revenues had dropped 85 percent this year and it had failed to make payments on… Read More>>
Kaisa Project Frozen in Hangzhou – More Cities Could Follow
Government bans on property sales are no longer confined to Shenzhen, as real estate developer Kaisa now sees its troubles spreading to other cities, and reports indicate that a Shanghai property developer has also had projects frozen.
According to a… Read More>>
Shipbuilder Belonging to Glorious Property Boss Defers Bond Payments
A Chinese shipbuilder belonging to the same group of companies as troubled developer Glorious Property Holdings Ltd (HKG:0845) has asked bondholders not to demand their money back, as it struggles to restructure its finances.
Rongsheng Heavy Industries, which was founded… Read More>>
Agencies Warn of China Developer Risks Amid Credit Scares
Slower sales and rising land prices will put stress on some of China’s real estate developers this year according to recent reports by credit agencies Standard & Poor’s and Moody’s.
The warnings from the ratings agencies happened in the same week that China saw its first default of a corporate bond as the country’s leaders attempt to wean businesses from their addiction to cheap credit.