Shares of Evergrande have plunged to over 11-year lows, extending losses as executives try to salvage its business prospects and as default fears grow over a looming deadline for payment obligations this week. Evergrande has been scrambling to raise funds to pay its many lenders, suppliers and investors, with regulators warning that its $US305 billion…
An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo HONG KONG, Sept 20 (Reuters) – Shares of Evergrande on Monday plunged to over 11-year lows, extending losses as executives try to salvage its business prospects and as default fears grow over a looming deadline for payment obligations…
William Je establishes a charity to help provide support to individuals and families as they relocate from Hong Kong to the UK LONDON, Sept. 20, 2021 /PRNewswire/ — One of the most distinguished names in Hong Kong, esteemed entrepreneur and philanthropist, Mr William Je, has embarked upon a quest to help many of those 5.4…
Telstra took the opportunity on Thursday to lay out its T25 future strategy as its approaches the end of its T22 strategy, which kicked off in 2018. “If T22 was a strategy of necessity, T25 is a strategy for growth,” Telstra CEO Andy Penn said. But one of the most significant changes to the company…
CWT, a company that arranges business travel and meetings that was hit hard by the pandemic, reached a restructuring agreement with creditors that would allow it to shed around $900 million of debt and receive an equity infusion from existing investors. The plan, which is being supported by holders of 90% of the companys debt,…
Garuda Indonesia expects to launch a UK scheme of arrangement as part of a restructuring in which it is looking to remove nearly 80 aircraft from its fleet and renegotiate or cancel orders for more than 90, Cirium understands. To implement the restructuring of the groups aircraft lease arrangements and potentially its other debts, the…
HONG KONG/SHANGHAI, Sept 14 (Reuters) – Cash-strapped property group China Evergrande Group (3333.HK) said on Tuesday it has engaged advisers to examine its financial options and warned of default risks amid plunging property sales, sending its stock and bond prices sharply lower. The real estate giant has been scrambling to raise funds it needs to…
Nok Air has outlined plans for a capital and debt restructuring alongside its ongoing business rehabilitation process to improve its financial health and avoid being delisted from the Stock Exchange of Thailand (SET). On 9 September, the SET warned Nok that it was subject to possible delisting and has given the airline one month until…
Shadow education minister Tanya Plibersek addressed an elite business gathering last month, presenting a future Labor government as the best means of escalating the corporate restructuring of tertiary education. In her August 16 speech to the Australian Financial Review Higher Education Conference, Plibersek said nothing about the destruction of tens of thousands of jobs throughout…
SINGAPORE – Shareholders of Singapore Press Holdings (SPH) have voted overwhelmingly in favour of carving out its media business into a new company limited by guarantee (CLG). Here is a recap of the recent developments for SPH, which publishes The Straits Times. Oct 13, 2020: SPH posts its first ever net loss of $83.7 million…