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Evergrande Drama ...

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  1. #221

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    According to the latest document on the project, published by the city government in late October, the authorities have approved changing 16 of the incomplete buildings into rental housing, four into service apartments, and the remaining 19 into hotels, offices and retail space.

    The seizure of part of the 800-hectare (2,000-acre), flower-shaped project has added to the woes of what was once China's top-selling developer, which is reeling under more than $300 billion in debt and struggling to repay creditors.
    Yahoo Finance: Authorities turn seized home towers at Evergrande's resort island to rental, commercial use.
    https://finance.yahoo.com/news/autho...072945101.html

  2. #222

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    Name:  Screenshot 2023-08-28 at 12.03.20 PM.png
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    and today, after trading was resumed...

    Name:  Screenshot 2023-08-28 at 12.03.30 PM.png
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Size:  16.4 KB

  3. #223

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    Quote Originally Posted by shri:
    Yahoo Finance: Authorities turn seized home towers at Evergrande's resort island to rental, commercial use.
    https://finance.yahoo.com/news/autho...072945101.html
    $300,000,000,000 is a very large figure.

  4. #224

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    Deja vu .. trading halted again.

    Founder under house "police control" whatever ... not house arrest.

    https://geoexpat.com/forum/417/thread366307.html

    Embattled Chinese property giant Evergrande has suspended share trading on the Hong Kong stock exchange only a month after it resumed trading after a 17-month suspension.

    Trading in its two other units – the property services and electric vehicle groups – also stopped at 9am on Thursday, according to notices posted by the stock exchange.

    The halt in trading comes a day after reports that the chair of Evergrande had been put under police surveillance. Hui Ka Yan, who founded Evergrande in 1996, was taken away earlier this month and is being monitored at a designated location, according to Bloomberg.
    https://www.theguardian.com/business...property-giant
    JAherbert likes this.

  5. #225

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    Somebody must have been fed up with all the Evergrande story: the original article, linked to in the first post on the first page, has turned into porn (probably hacked).


  6. #226

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    Quote Originally Posted by Windmill65:
    Somebody must have been fed up with all the Evergrande story: the original article, linked to in the first post on the first page, has turned into porn (probably hacked).
    People got screwed by the China story... (Removed link)

  7. #227

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    Evergrande winding up gets closer

    https://www.thestandard.com.hk/break...reprieve%C2%A0


  8. #228

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    and it looks like Country Garden's "grace period" isnt going to help “....The company expects that it won’t be able to meet all of its offshore payment obligations on time...."

    https://www.thestandard.com.hk/break...nlikely-to-pay


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