sincere property group

Opportunities for developers to acquire China  business parks as country addresses debt danger - THE EDGE SINGAPORE

Global review

Opportunities for developers to acquire China business parks as country addresses debt danger

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.

Company in the news

CDL's China deal is a cautionary tale

When Singapore’s richest property family invested in a Chinese real estate group, the deal was touted as “game-changing” for its expansion in Asia’s largest economy.

CDL plans bond issue as Sincere Property defaults, and blame game begins - THE EDGE SINGAPORE

Property

CDL plans bond issue as Sincere Property defaults, and blame game begins

City Developments launched a $200 million senior 5-year bond tranche at 2.3%, on Mar 12, 130 bps above 5-year Sor (swap offer rate).

CDL and Sincere: the blame game begins as Sincere defaults on bond  - THE EDGE SINGAPORE

Property

CDL and Sincere: the blame game begins as Sincere defaults on bond

On March 10, Bloomberg carried a news item which said no payment had been made towards a bond from Chongqing Sincere Yuanchuang Industrial, a unit of Sincere Property Group, with RMB444.5 million (

City Developments looks beyond Sincere - THE EDGE SINGAPORE

Property

City Developments looks beyond Sincere

City Developments (CDL) is attempting to put its ill-fated $1.9 billion investment in Sincere Property Group behind.

CDL begins monetisation of Sincere’s assets  - THE EDGE SINGAPORE

Property

CDL begins monetisation of Sincere’s assets

 On the afternoon of Feb 22, City Developments (CDL) made an SGXnet compliance announcement on interested party transactions, and a press release on corporate action to improve the liquidity of Sin

Results

CDL says it expects to record 'material impairment loss' on Sincere investment

City Development Limited (CDL) says it expects to make provisions for a “material impairment loss” on its investment in Sincere Property on Jan 21, given the “ongoing unprecedented challenges” for

CDL appoints special working group to review and improve liquidity and profitability for Sincere Property Group - THE EDGE SINGAPORE

Company in the news

CDL appoints special working group to review and improve liquidity and profitability for Sincere Property Group

City Developments Limited (CDL) has set up a special working group to review and improve liquidity and profitability of its 51.01% joint venture (JV) equity investment in Sincere Property Group.

Third CDL director resigns in relation to Sincere Property investment - THE EDGE SINGAPORE

Company in the news

Third CDL director resigns in relation to Sincere Property investment

Tan Yee Peng, an independent non-executive director of City Developments Limited (CDL) has resigned from her position effective Dec 30.

Another CDL director resigns in relation to Sincere Property investment - THE EDGE SINGAPORE

Company in the news

Another CDL director resigns in relation to Sincere Property investment

Koh Thiam Hock, 70, has resigned as independent non-executive director of City Developments (CDL) effective Dec 28.

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