Question - What happens to all the land bought by HNA and other companies, if the banks don't lend them enough money to develop shiny new micro-apartments and malls?
https://www.bloomberg.com/news/artic...loans-j5hnmp3f
Question - What happens to all the land bought by HNA and other companies, if the banks don't lend them enough money to develop shiny new micro-apartments and malls?
https://www.bloomberg.com/news/artic...loans-j5hnmp3f
Bloomberg now reveals a couple of things.
HNA is owned by charities. Sure...
HNA has suddenly KYC problems with BoAML, despite having pushed through deals with them in the past.Two charities named Cihang -- one based in New York and the other in the resort island of Hainan -- own 52 percent of HNA Group, according to a company statement on Monday. Twelve HNA officials including founders Chen Feng and Wang Jian hold about 47.5 percent, with the rest held by Hainan Airlines Holding Co., according to the statement.
https://www.bloomberg.com/news/artic...d-by-charitiesBank of America Merrill Lynch joined other Wall Street firms that are largely steering clear of advising and financing the group on deals because they are unable to get internal approvals from “know your customer” committees, people familiar with the matter have told Bloomberg.
No it wont, its sound very good, hope they build a NEW KOWLOON CITY version on the 4 pieces of land lol
HNA plans to combine all four sites under one development project for the purpose of constructing an integrated residential complex.
After combining four sites into one large plot, it will yield a total gross floor area of 2.02 million sq ft with an average land cost of HK$13,416 per square foot.
- search that document for "Building covenant". NKIL6556.pdf has a completion date of 30th, Sept, 2023.
An FAQ from Bloomberg
HNA, the Curious Company Worrying China and U.S.: QuickTake Q&A
https://www.bloomberg.com/politics/a...-quicktake-q-a
Smell like Communist Party is behind all this
HKMA Surveys Banks to figure out which banks may be lending...
https://www.bloomberg.com/news/artic...ers-daily-says