Jakarta – The property crisis in China is not over yet. After Country Garden and Evergrande, property developers who failed their debts, now Redsun Properties Group has the same fate. The company’s debt condition is getting worse. Quoted from SCMP, Monday (19/2/2024), Redsun was reported to have experienced default on several foreign debt securities since … Read more
[Voice of Hope December 29, 2023](Comprehensive report by our reporter He Jingtian) Chinese people currently have no money in their pockets, youth unemployment remains high, companies are closing down, investment is declining, and the Chinese economy is in depression. The CCP’s finances are tight, and calls for a “tightening of life” are rising one after … Read more
Jakarta – Still remember Country Garden, a Chinese property developer who is threatened with bankruptcy because he cannot pay his debts? There is new news from the company. Now, the company has decided to cut the salaries of 4 of its top officials to support the company’s finances. Their salaries were cut by 67% to … Read more
Most foreign bond investors who buy large Chinese real estate developers do not have CDS protection. (Bloomberg) [Financial Channel/Comprehensive Report]China’s Credit Default Swap (CDS) is not booming. Despite this, there are still many investors who buy overseas bonds of Chinese real estate developers without the risk of CDS. Once the Chinese real estate is not … Read more
There are two groups of bondholders seeking debt restructuring talks, with one of the main groups close to appointing Moelis or PJT as financial advisers, the sources said. This group holds the firm’s foreign bonds in the amount of about two billion dollars (46.7 billion CZK) and consists of international investors and fund managers, one … Read more
Jakarta, CNBC Indonesia – Chinese property giant, Country Garden gave a warning Tuesday (10/10/2023). The company has openly stated that it is unable to fulfill its foreign debt obligations. Collect Reuters, this situation has the potential to cause the property developer to default. So far, Country Garden hasn’t default although it has missed coupon payments … Read more
Country Garden warned of default on foreign debt, stock price fell more than 11% in 2 days (Reuters) [Financial Channel/Comprehensive Report]As offshore bond defaults count down, Chinese real estate developer Country Garden (2007.HK) announced today that the group currently faces “significant” uncertainty in asset disposal, its cash position is under pressure, and it may not … Read more
Jakarta – A number of residents living in Forest City, Malaysia can no longer afford to live in the area which is now known as the ghost town. In fact, there are residents who then intend to sell their apartment units there. This is certainly not an exaggeration because of the news of the giant … Read more
Jakarta – One of the residents who lives in Forest City, Malaysia can no longer afford to live in the area which is now known as the ghost town. The resident then sold his apartment unit there. It’s not without reason that Forest City has been nicknamed a ghost town lately. The developer, Country Garden, … Read more
anticipated maturities As China’s broader real estate debt crisis enters its fourth year; The tests for Country Garden, once the largest real estate developer in the country, are far from over. More maturities loom for the debt of the builder, which has obligations of nearly $187 billion. Country Garden must pay a total of $22.5 … Read more