SHANGHAI : Developer Modern Land Co Ltd said on Tuesday that it had not repaid principal and interest on a bond that matured Oct. 25 due to"unexpected liquidity issues".
In a filing to the Singapore Exchange, Modern Land said that it was assessing the financial condition and cash position of the group, and expects to engage independent financial advisors soon for an overall plan. Trading of the company's shares and debt securities will remain halted until further notice, it said. The company last week ended an attempt to seek bondholder approval to extend the maturity of its 12.85per cent senior notes due 2021.
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.
China strengthens land border protection with new lawBEIJING: China passed a law on Saturday (Oct 23) to strengthen border protection amid a protracted stand-off with India, worries about spillover effects from Taliban-controlled Afghanistan and the spread of COVID-19 from Southeast Asia. The Land Borders Law will not necessarily change how border secur
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
The 6 Smartest Knee Exercises to Help Keep Your Joints Pain-freeWhether you have arthritis, an injury, or simply have bad knees, these knee exercises will keep them feeling strong and healthy.
Source: YahooSG - 🏆 3. / 71 Read more »
PayPal says it is not pursuing Pinterest acquisitionPayPal is not pursuing an acquisition of Pinterest at this time, the payments company said late on Sunday (Oct 24), responding to media reports that it was in talks to buy the digital pinboard site for as much as US$45 billion. Bloomberg News first reported on the companies\u0027 talks last Wednesday that
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China strengthens land border protection with new lawBEIJING: China passed a law on Saturday (Oct 23) to strengthen border protection amid a protracted stand-off with India, worries about spillover effects from Taliban-controlled Afghanistan and the spread of COVID-19 from Southeast Asia. The Land Borders Law will not necessarily change how border secur
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Twin peaks: Whether it's supply or demand, oil era heads for crunch timeEnergy transition and peak demand predictions have spooked investors in oil, putting the prospect of peak production sooner than anticipated accompanied by wild price spikes. Key climate talks are set to begin at the end of this month in Glasgow, Scotland to tackle global warming under the 2015 Paris
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tesla drives over US$1 trillion as investors bet the EV future is nowTesla surpassed US$1 trillion in market capitalisation on Monday (Oct 25) after landing its biggest-ever order from rental car company Hertz, a deal that reinforced the electric car leader's ambiti
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »