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Company leaders pledge to marshal resources carefully in 2024 as they strike a cautious tone about any potential recovery.
Defaulted property developer CIFI Holdings has for the third time in two months unveiled a loss-making asset disposal plan as it looks to fund operations and alleviate liquidity pressure.
Embattled CIFI Holdings put forward a revamped proposal that offers creditors maturity extensions with different haircut levels or partial equitisation.
Debt-stricken Chinese property developer CIFI Holding Group makes another loss-making asset sale, as the company grapples with a liquidity crunch and seeks to ‘survive and sustain under the crisis’.
CIFI chairman Lin Zhong and his brothers are asking HK$1.66 billion (US$212.7 million) for five houses in Stanley, 7.88 per cent less than the purchase price. Each 3-storey unit comes with a garden and swimming pool.