SINGAPORE (July 13): Century Sunshine Group (CENSUN) announced on July 3 that it had defaulted on the $101.8 million SGD-bond as the company had not been successful refinancing the bonds. It has also received demands from two bank creditors for the repayment of borrowings of CENSUN and its subsidiary amounting to some HKD 51.0 million ($9.1 million).

With that, the CENSUN caught the attention of OCBC Credit Research.

CENSUN is listed on the Hong Kong Stock Exchange. The listed entity is incorporated in the Cayman Islands and the SGD bonds are issued by CENSUN. The stock has a market cap of HKD 261 million as at July 9.

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