HONG KONG : Mingling with power brokers at celebrations to mark the centenary of the Chinese Communist Party on July 1, a beaming Hui Ka Yan showed no signs that his company, China Evergrande, was facing mounting pressure with debt repayments.
Evergrande missed a dollar bond interest payment deadline this week, moving closing to a potential default.In a September letter, Hui expressed appreciation for the hard work of employees and said Evergrande will deliver property projects as pledged, and fulfil responsibilities to property buyers, investors, partners and financial institutions.
In 2017, Hui was Asia's richest man with a net worth of US$45.3 billion, according to Forbes. Today his net worth is estimated at US$13.4 billion. With them, he became a core member of the"poker club", a tight-knit circle of tycoons who played cards and who often did investment deals together, according to three people familiar with the club.
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