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Evergrande's Goal to Cut $100 Billion Debt Hinges on Stock Sales


Evergrande’s Goal to Cut $100 Billion Debt Hinges on Stock Sales
Bloomberg
1 hr ago
Bloomberg News
(Bloomberg) China Evergrande Group’s target for cutting its $100 billion in debt hinges on more profit-squeezing property price cuts and aggressive equity fundraising from its non-core businesses.
After reporting its second straight year of declining profit, the nation’s most indebted developer said on Wednesday that it has made early progress on paring borrowings and unveiled plans to roughly halve the remainder over the next two years. To meet the goal, Evergrande needs to sustain share sales in its new businesses, some of which haven’t ramped up yet, analysts said. ....

Hong Kong , Xia Haijun , Griffin Chan , Hui Ka Yan , Bloomberg China Evergrande Group , Citigroup Inc , Evergrande Group , Kristy Hung , Patrick Won , Bloomberg Going Lean , Bloomberg Intelligence , President Xia Haijun , ஹாங் காங் , கிரிஃபின் சான் , ஹுய் கா யான் , சிட்டி குழுமம் இன்க் , கிறிஸ்டி தொங்கவிடப்பட்டது , பேட்ரிக் வென்றது , ப்ளூம்பெர்க் போகிறது ஒல்லியான , ப்ளூம்பெர்க் உளவுத்துறை ,

Singapore's Richest Property Clan Looks Ahead After Record Loss

(Bloomberg) Singapore’s richest property dynasty vowed to get back on course after a S$1.78 billion ($1.3 billion) writedown on a Chinese deal led to a record annual loss.City Developments Ltd.’s net loss of S$1.9 billion for the year ended Dec. 31 was its first since the early 1970s, thanks to the impairment on its investment in China’s Sincere Property Group.“We must now forget about all these old subjects,” Chairman Kwek Leng Beng said at a briefing on the results Friday. “I want to go to the next chapter to grow the company. I don’t want to keep talking about Sincere.”While the pandemic has also battered its hotel revenue and rental income, the acquisition of a majority stake in Chongqing-based Sincere last April has proved to be an onerous investment, creating a rift in a family dynasty that’s worth $16.5 billion, according to last year’s Bloomberg Billionaires Index list of Asia’s richest clans. Three ....

Sherman Kwek , Wu Xu , Kwek Leng Beng , City Developments Ltd , China Sincere Property Group , Sincere Property , Chongqing Based Sincere , Bloomberg Billionaires Index , Chief Executive Officer Sherman , Bloomberg Intelligence Says , Kristy Hung , Chief Transformation Officer Goh Ann Nee , Chairman Kwek , வு ஐயூ , நகரம் முன்னேற்றங்கள் லிமிடெட் , சீனா நேர்மையான ப்ராபர்டீ குழு , நேர்மையான ப்ராபர்டீ , சோங்க்கிங் அடிப்படையிலானது நேர்மையான , ப்ளூம்பெர்க் கோடீஸ்வரர்கள் குறியீட்டு , தலைமை நிர்வாகி அதிகாரி ஷெர்மன் , ப்ளூம்பெர்க் உளவுத்துறை என்கிறார் , கிறிஸ்டி தொங்கவிடப்பட்டது , தலைமை மாற்றம் அதிகாரி கோ ஆண்டு நீ ,

Scion of Singapore's richest clan strives to salvage China deal


The Straits Times
Scion of Singapore s richest clan strives to salvage China deal
City Developments Ltd CEO Sherman Kwek spearheaded a deal with Chinese developer Sincere Property Group in 2019.PHOTO: CDL
PublishedJan 19, 2021, 8:25 am SGT
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United Kingdom , National University Of Singapore , Singapore General , Kwek Leng Peck , Wang Wenyin , Sherman Kwek , Justin Tang , Wu Xu , Kwek Leng Beng , Sincere Holding Group Co , Boston University , Jinke Properties Group , City Developments Ltd , Greenland Holdings Group , Millennium Copthorne Hotels Ltd , China Evergrande Group , Sunac China Holdings , Sincere Property Group , Mak Yuen Teen , National University , Copthorne Hotels Ltd , Chongqing Sincere Holding , Samuel Yin , Bloomberg Intelligence , United First Partners , City Developments ,