HONG KONG : S&P Global Ratings said on Thursday a default is still"highly likely" for China Evergrande Group despite its recent bond coupon payments because it has a bigger test in March and April next year, facing a total of US$3.5 billion maturities in dollar bonds.
"The firm has lost the capacity to sell new homes, which means its main business model is effectively defunct. This makes full repayment of its debts unlikely," S&P Global said in a report.
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China Evergrande dissolves some units of online marketplace - mediaHONG KONG : China Evergrande Group has dissolved several district-level units of Fangchebao (FCB), its online real estate and automobile marketplace, due to shrinking capital and business, Chinese media outlet Cailianshe reported on Wednesday, citing sources close to the embattled developer.FCB had planne
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China Evergrande sells stake in HengTen for US$273 millionChina Evergrande said on Thursday its unit will sell its entire share stake in HengTen for HKUS$2.13 billion (US$273.47 million).(US$1=7.7889 Hong Kong dollars) (Reporting by Indranil Sarkar in Bengaluru; Editing by Sherry Jacob-Phillips)
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China Evergrande sells entire stake in HengTen for US$273 million(Corrects to add story identifier, no changes to text):China Evergrande Group said on Thursday its unit will sell its entire share stake in HengTen Network Holdings for HKUS$2.13 billion (US$273.47 million).Evergrande, the world's most indebted developer, has been stumbling from deadline to deadline i
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China Evergrande sells entire stake in streaming platform HengTen for US$273 millionHONG KONG: Cash-strapped developer China Evergrande Group said on Thursday it is selling its entire stake in film and television streaming company HengTen Network Holdings for HK$2.13 billion (US$273.5 million). Evergrande, the world\u0027s most indebted developer, said it would realise a loss of HK$8.5 billion
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China, US agree to ease restrictions on journalists: China DailyBEIJING: China and the United States will ease restrictions on access for journalists from each other\u0027s countries, the official China Daily reported late on Tuesday (Nov 16), citing unnamed Chinese foreign ministry sources. A consensus on journalist visas, among other points, was reached before the virtual
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China coast guard uses water cannon against Philippine boatsChinese coast guard ships blocked and sprayed a powerful stream of water at two Philippine boats carrying supplies to troops at a disputed South China Sea shoal, prompting Manila to order Beijing’s ships to back off and warn that its supply vessels are covered by a mutual defense treaty with the United States, Manila’s top diplomat said Thursday. Philippine Foreign Secretary Teodoro Locsin Jr. said no one was hurt in the incident on Tuesday, but the two supply ships had to abort their mission to provide food to Filipino forces occupying Second Thomas Shoal, which lies off western Palawan province in the Philippines’ internationally recognized exclusive economic zone. Locsin said in a tweet that the three Chinese coast guard ships’ actions were illegal and urged them “to take heed and back off.”
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