Another Chinese developer fails to make debt paymentsFantasia's failure to honour its debt commitments has added to concerns about the property sector as Evergrande teeters. BEIJING: Another Chinese homebuilder has hit financial trouble after it missed payments on debt obligations, adding to worries over the country's property sector as embattled giant China Evergrande teeters on the brink of collapse. Fantasia Holdings failed to repay a $205.7 million note Monday, the Shenzhen-based company said in a statement. Separately, S&P Global Ratings has downgraded another Chinese property firm -- Sinic Holdings -- saying its "debt-servicing ability has almost been depleted". Sinic has been unable to service interest repayments, which could result in "accelerating repayments on Sinic's other debt obligations", S&P said on Monday.

Source: Bangkok Post October 05, 2021 03:45 UTC