Struggling Shimao looks on as creditors move in on its trophy Hong Kong hotel
Its onshore and offshore bonds now restructured, the developer must still navigate its massive bank debt, likely requiring more asset liquidations Key Takeaways: Several creditor banks may be moving to…
BRIEF: Shimao’s sales fall 22% year-to-date through November
Property developer Shimao Group Holdings Ltd (0813.HK) announced on Sunday that its aggregated contracted sales in the first 11 months of this year fell 22% year-on-year to 31.2 billion yuan…
Asia Cement hardens into loss column with no relief in sight
The company swung into the red in the first quarter as weak demand from China’s struggling property market pushed cement prices to fresh lows Key Takeaways: Asia Cement warned it…
CHINA BULLETIN: China Economy Off to Strong Start in 2024
In this week’s issue GDP booms, WhatsApp gets the boot and a liquor bubble pops. On a scale of 1 to 100, we give the week a 50 for offshore-listed…
Deadbeat developer debt collection enters new phase with Shimao liquidation
China Construction Bank’s request to liquidate Shimao shows that state-owned banks are starting to take legal action to recover their money from the debt-ridden industry Key Takeaways: A unit of…
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