China Evergrande’s wealth management arm faces local government inquiry | Malay Mail
SHANGHAI, Sept 27 — The Shenzhen government is investigating a unit of Chinese developer Evergrande, the city’s financial regulator told investors today, in the first sign of an official inquiry into the wealth management crisis at the real estate giant. Evergrande, the world’s most indebted...
channel for the latest updates.SHANGHAI, Sept 27 — The Shenzhen government is investigating a unit of Chinese developer Evergrande, the city’s financial regulator told investors today, in the first sign of an official inquiry into the wealth management crisis at the real estate giant.
Evergrande, the world’s most indebted property developer headquartered in Shenzhen, owes US$305 billion and has run short of cash, triggering concerns its problems could ripple through China’s financial system.As its liquidity crisis deepened, the company’s wealth arm earlier this month missed a payment on wealth management products (WMPs), leading to protests by investors who fear they will never get their money back.
In a letter to investors seen by Reuters, the Shenzhen Financial Regulatory Bureau said “relevant departments of the Shenzhen government have gathered public opinions about Evergrande Wealth and are launching a thorough investigation into related issues of the company”. headtopics.com
It is also urging China Evergrande and Evergrande Wealth to work to repay investors, the letter said, which was sent following investor demands for an inquiry.Neither Evergrande, nor the government of Shenzhen replied to requests seeking comment.China Evergrande, in common with other heavily-indebted conglomerates, issued high-yielding WMPs to investors – a popular way of borrowing that sidesteps government lending restrictions.
More than 80,000 people – including Evergrande employees, their families and friends as well as owners of Evergrande properties – bought WMPs through Evergrande that raised more than 100 billion yuan (US$15.47 billion) in the last five years, and some 40 billion yuan of the investments are outstanding, a sales manager of Evergrande Wealth and investors said. — ReutersRead more: Malay Mail »
Singaporean pleads not guilty to abusing autistic child
KUALA LUMPUR (Bernama): A Singaporean woman on Wednesday (Oct 13) pleaded not guilty at the Ampang Sessions Court here to abusing an autistic child.
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Muhammad Qasim melihat pangkat kerohanian para Nabi dalam mimpi pada tahun 2009. Nabi Muhammad SAW mempunyai pangkat tertinggi, diikuti oleh Nabi Ibrahim AS dan kemudian para Nabi Allah SWT yang lain. Mimpi Qasim diberkati. Mungkinkah dia Imam Al-Mahdi? Muhammad Qasim menekankan pada hakikat bahawa kita harus menjauhi Syirik dan bentuknya kerana ini adalah satu-satunya cara untuk kita mencapai kejayaan di dunia dan akhirat. Ramai orang mendakwa bahawa dia adalah Imam Al-Mahdi. Tonton apa kata lelaki ini.
Canada foreign minister says eyes wide open when it comes to normalising China ties | Malay MailTORONTO, Sept 27 — Canada’s “eyes are wide open” when it comes to normalising its relationship with China, Foreign Minister Marc Garneau said on Sunday, two days after the release of a Huawei executive following almost three years of house arrest in Vancouver. Huawei Technologies Co Ltd...
China to start as favourites in Sudirman Cup againPETALING JAYA: Can the mighty China show their dominant form again when they kick off their Sudirman Cup title defence in Vantaa, Finland today?
Ekonomi digital China catat RM25.4 trilion pada 2020 | The Malaysian Insight
The Week Ahead - Trade Data, China PMI, Singapore properties, Monetary PolicyPUTRAJAYA: Malaysia reported 10,959 new Covid-19 cases, the Health Ministry said on Monday (Sept 27).
China govt vessel in Malaysia's EEZ, nears Petronas-contracted ship off SabahIt is near a ship contracted by Petronas for exploration. Bnyk kali dah nmpk kapal china ni masuk perairan Malaysia.. brotherhood lah katakan 🤝 Hubungan akrab yg tak ikhlas ! What's the problem? Hishammuddin knows everything about what big brothers from China want from Malaysia.
Shares in Evergrande EV unit plunge as cash dries up | Malay MailBEIJING, Sept 27 — Shares in debt-laden Evergrande’s e-vehicle unit slumped by more than 10 per cent today after the firm scrapped a proposed Shanghai listing, and with the property developer mired in a liquidity crisis. Evergrande is struggling with more than US$300 billion (RM1.25 trillion)...