Sincere Property Group was not the only Chinese company that defaulted on a bond payment. China Fortune Land Development Co also defaulted on a USD bond which matured on Feb 28. On Feb 26, CFLD Cayman Investment, which issued some US$4.6 billion worth of offshore bonds in Singapore on behalf of CFLD, announced on SGXnet that it would not be redeeming its US$530 million tranche issued out of Singapore.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe