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Jan 17, 2023 10:10 AM ISTThe issues included the timeline and scope of work involved in assessing the company's going concern basis as well as additional audit work and procedures required for the assets impairment assessment, Evergrande said in a statement.
Sep 05, 2022 12:25 PM IST An investor in Evergrande's unit online real estate and automobile marketplace, Fangchebao (FCB), filed the petition in Hong Kong in June because the developer had not honoured an agreement worth $110 million to repurchase shares the investor bought in FCB.
Aug 30, 2022 02:00 PM IST Unlike its largest peers, Country Garden focuses on the lower end of the market, making it more vulnerable to weakening demand from homebuyers during a slowdown.
Aug 01, 2022 08:34 PM IST The potential folly of the futuristic city Crown Prince Mohammed envisions along the Red Sea isn’t in the financials, it’s in the country’s underlying reality
Aug 01, 2022 07:02 AM IST In July 2021, the guarantor, who was not named in the statement, provided a guarantee for the borrowings of certain entities controlled by Evergrande, the company said in a statement to the Hong Kong stock exchange.
Jun 02, 2022 05:07 PM IST The rating agency in December downgraded Evergrande and its subsidiaries, Hengda Real Estate Group Co Ltd and Tianji Holding Ltd, to so-called “restricted default” status, saying the firms had defaulted on their offshore bond obligations.
Jan 06, 2022 12:35 PM IST The crackdown on real estate ordered by Xi Jinping is putting growing pressure on local governments and many companies
Dec 11, 2021 07:53 AM IST Will China’s Evergrande failure force Indian developers to rethink their business strategy?
Dec 09, 2021 05:18 PM IST As real estate firms Evergrande and Kaisa default on over a billion dollars of bond repayments after weeks of uncertainty, here is an explainer on what the debt crisis in China's real estate market could mean for the country's economy.
Dec 09, 2021 03:06 PM IST The Chinese government sparked a crisis within the property industry when it launched a drive last year to curb excessive debt among real estate firms as well as rampant consumer speculation.
Dec 06, 2021 07:12 AM IST After Evergrande’s statement late on Friday, the Guangdong provincial government said it would send a working group to the developer at its request to oversee risk management, strengthen internal controls and maintain normal operations.
Nov 20, 2021 08:32 AM IST China Evergrande New Energy Vehicle Group Ltd will issue about 900 million shares at HK$3 apiece through a top-up placement to controlling shareholder Evergrande Health Industry Holdings Ltd, after striking a similar deal with it last week.
Nov 11, 2021 10:00 AM IST All eyes had been on the heavily indebted company as it faced a Wednesday deadline for $148 million in coupon payments -- after missing the initial due dates last month.
Nov 10, 2021 05:16 PM IST Evergrande, the world's most indebted developer, has been stumbling from deadline to deadline in recent weeks as it grapples with more than $300 billion in liabilities, $19 billion of which are international market bonds.
Nov 04, 2021 03:56 PM IST Bedeo is buying Protean from National Electric Vehicle Sweden, a unit of Evergrande New Energy Vehicle Group.
Nov 03, 2021 09:10 AM IST In a statement, the firm, once China’s top-selling developer, said it had delivered homes to 57,462 owners over the period.
Oct 29, 2021 07:56 AM IST Evergrande’s liquidity crunch against more than $300 billion in liabilities sparked global concern it could trigger systemic risks.
Oct 28, 2021 07:22 AM IST The company’s advisers Houlihan Lokey Inc and Admiralty Harbour Capital along with offshore bondholder advisers Moelis & Co and Kirkland & Ellis have signed non-disclosure agreements in preparation for potential talks, according to the report on Wednesday.
Oct 22, 2021 09:48 AM IST Shares of Evergrande, which is saddled with more than $300 billion in liabilities, rose as much as 8 percent early on October 22 after it wired funds to a trustee account for a bond interest payment
Oct 22, 2021 09:39 AM IST Evergrande Group's struggle to reduce its 2 trillion yuan ($310 billion) of debt to comply with tighter official curbs on borrowing has prompted fears a default might trigger a financial crisis
Oct 22, 2021 09:20 AM IST Surging prices around the world and central banks' moves to bring an end to their financial largesse have acted as a major drag on markets for months owing to the prospect that the era of cheap cash is coming to an end
Oct 20, 2021 07:16 PM IST The company suspended trading on October 4 as it struggled in a sea of debt and faces a default, with its predicament fuelling fears of contagion through the Chinese economy.
Oct 19, 2021 02:26 PM IST The liquidity crisis at Evergrande, which has $300 billion in debt and has missed a series in bond payments, has roiled global markets. High-yield bonds issued by Chinese property developers have been especially hammered.
Oct 06, 2021 11:23 AM IST Centaline filed a suit against Evergrande in September to recover HK$3.1 million ($398,196) in overdue commissions, a court filing showed, while the South China Morning Post newspaper reported Midland Holdings is claiming unpaid commission of HK$43.45 million for two developments in Hong Kong.
Oct 04, 2021 10:18 AM IST Once China's top-selling developer, Evergrande is facing what could be one of the country's largest-ever restructurings as a crackdown on debt leaves it unable to refinance $305 billion in liabilities.
