in the property sector, which accounts for roughly a quarter of the economy.
While Country Garden's liabilities are only 59 per cent of those at Evergrande, it has 3,103 projects across China, compared with about 800 for Evergrande - making the company matter to systemic stability while also fueling contagion fears as it shows signs of financial stress. The company's liquidity stresses became public early last month after it missed two dollar coupon payments. It also has been talking with its onshore creditors to extend a 3.9 billion yuan private bond due on Saturday.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Country Garden warns of default risks, 'deeply remorseful' for record lossHONG KONG: China's largest private property developer warned on Wednesday (Aug 30) of default risks if its financial performance continues to deteriorate, and said it 'felt deeply remorseful' for its record loss in the first half. Country Garden posted a net loss between January and June of 48.9 billion yu
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Country Garden posts record $8.4 billion loss, warns of possible defaultThe embattled Chinese developer raised concerns about staying in business. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »
Country Garden warns of default risks, 'deeply remorseful' for record lossHONG KONG - China's largest private property developer warned on Wednesday (Aug 30) of default risks if its financial performance continues to deteriorate, and said it 'felt deeply remorseful' for its record loss in the first half. Country Garden posted a net loss between January and June of 48.9 billion yuan (S$9 billion), versus a 6.7 billion yuan net loss...
Source: asiaonecom - 🏆 10. / 59 Read more »
Moody's slashes China's Country Garden rating on default riskLONDON : Moody's slashed the credit ratings of Chinese property developer Country Garden by three notches to Ca from Caa1 on Thursday due to worries the firm could be on the brink of default.'The rating downgrades with negative outlook reflect Country Garden's tight liquidity and heightened default risk,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China ramps up economic support as Country Garden vote loomsBEIJING: China stepped up measures to boost the country's faltering economy on Friday (Sep 1), with top banks paving the way for further cuts in lending rates and authorities reducing the amount of funds institutions need to hold in foreign exchange reserves. China is grappling with a slowdown that has rat
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Country Garden posts record $9.2b first-half loss, warns of possible defaultThe embattled Chinese developer raised concerns about staying in business. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »