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should be no surprise, they had a core business making money, they believe their own press, branched out into property, and lost their shirt.
https://www.hongkongfp.com/2018/08/2...ue-insolvency/
Hsin Chong did something similar, made a fortune building things, probably believed their own press, branched out into the mainland property, lost their shirt, and can't pay the core business bills.
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29-10-2018, 06:11 PM #1
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23-01-2019, 10:06 AM #2
From:Hsin Chong Group, a major construction company in Hong Kong, has defaulted on its US$150 million senior notes, according to an exchange filing.
The senior notes, carrying a fixed annual rate of 8.5 per cent, fell due for redemption on January 22.
https://www.scmp.com/business/compan...on-senior-debt
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23-01-2019, 05:39 PM #3
The construction company, founded by the Yeh family during the early years of the second world war, has been involved in building many of the city’s most iconic landmarks as well as the first large scale private housing estate Mei Foo Sun Chuen located in Lai Chi Kok, Kowloon.
In recent years, it turned to building hotels in Macau, including the Sands, the Venetian, Four Seasons, Sands Cotai Central and the Parisian.https://www.scmp.com/business/compan...on-senior-debtLast August, the West Kowloon Cultural District Authority cancelled Hsin Chong’s HK$5.9 billion contract for the M+ museum project, amid concerns over the developer’s financial solvency.
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