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.

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