Shimao Group

China’s property sector has been in crisis since 2021 after a regulatory crackdown on high leverage among developers triggered a liquidity crisis.

China property developer Shimao faces liquidation order over HK$1.6 billion loan

CHINESE property developer Shimao Group said on Monday (Apr 8) that China Construction Bank (Asia) had filed a liquidation petition against it over a financial obligation of HK$1.6 billion (S$276 mill...

Under the proposal, Shimao intends to restructure all of its debt, amounting to around US$11.7 billion in offshore notes, bonds and other credit facilities.

Global Enterprise

Chinese developer Shimao lays out restructuring proposal

CHINESE developer Shimao Group on Monday (Mar 25) laid out a new restructuring proposal to repay its offshore debt, joining a slew of property firms in China to try to revamp its debt.

Shanghai-based Shimao is among the many Chinese developers that have defaulted on offshore bonds, after it missed the interest and principal payment for a US$1 billion offshore bond in July 2022.

Property

Deutsche Bank to file liquidation suit against Chinese developer Shimao

Deutsche Bank is preparing a liquidation lawsuit in Hong Kong against Chinese developer Shimao Group, two sources said, in a rare move by a foreign firm that comes amid rising credit defaults and Chin...

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