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Singapore Developer Spats With China Unit After Bond La...


In its response, CDL described Sincere as a joint venture and said the legal structure of the entity doesn’t give the Singapore firm majority control of board decisions. It said it was “deeply concerned” that Sincere issued the statement and that it came without any prior consultation.
Sincere paid interest on Thursday for its bond due Tuesday, though investors are still waiting for a principal payment of 444.5 million yuan ($68 million), according to two bondholders who aren’t authorized to speak publicly and asked not to be identified. China Lianhe Credit Rating downgraded Sincere to B from BB following the missed payment. ....

Sherman Kwek , Wu Xu , Kwek Leng Beng , City Developments Ltd , Sincere Yuanchuang Industrial Co , Chongqing Sincere Yuanchuang Industrial , City Developments , Lianhe Credit Rating , Sincere Property , Executive Officer Sherman Kwek , Chairman Kwek Leng Beng , வு ஐயூ , நகரம் முன்னேற்றங்கள் லிமிடெட் , நகரம் முன்னேற்றங்கள் , நேர்மையான ப்ராபர்டீ ,

Singapore Developer Spats With China Unit After Bond Lapse


Singapore Developer Spats With China Unit After Bond Lapse
Bloomberg
3/12/2021
Bloomberg News
© Bloomberg
Residential buildings and willow trees stand along a canal in the Yonghegong area of Beijing, China, on Monday, April 16, 2018. New home prices in Beijing and Shanghai have jump more than 25 percent over the last two years.
(Bloomberg) An escalating feud between Singapore’s richest property family and its troubled Chinese unit is underscoring the challenges for foreign companies making acquisitions in the world’s second-largest economy.
On Wednesday, Chongqing Sincere Yuanchuang Industrial Co. said its parent City Developments Ltd. delayed decision making, stalling opportunities to raise funds and improve cash flow. CDL responded late Thursday by saying that Sincere’s message contained incorrect information which could mislead people to believe it should take primary responsibility. ....

Sherman Kwek , Wu Xu , City Developments Ltd , Sincere Yuanchuang Industrial Co , Bloomberg Residential , Chongqing Sincere Yuanchuang Industrial , City Developments , Lianhe Credit Rating , Sincere Property , Executive Officer Sherman Kwek , Chairman Kwek Leng , வு ஐயூ , நகரம் முன்னேற்றங்கள் லிமிடெட் , ப்ளூம்பெர்க் குடியிருப்பு , நகரம் முன்னேற்றங்கள் , நேர்மையான ப்ராபர்டீ ,

CDL rejects Chinese firm's claims it held up decisions


The Straits Times
Sincere Property says delay affected its ability to raise funds, improve cash flow
https://str.sg/JjsQ
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Sincere Property Holdings , Greenland Holdings Group , Sincere Property Group , City Developments , Sincere Property , Greenland Holdings , Company Briefs , நேர்மையான ப்ராபர்டீ ஹோல்டிங்ஸ் , கிரீன்லாந்து ஹோல்டிங்ஸ் குழு , நேர்மையான ப்ராபர்டீ குழு , நகரம் முன்னேற்றங்கள் , நேர்மையான ப்ராபர்டீ , கிரீன்லாந்து ஹோல்டிங்ஸ் , நிறுவனம் சுருக்கங்கள் ,