(Feb 2): China Vanke Co’s US$12 billion (RM47.3 billion) record loss underscores how its ability to avoid default depends on how far its state shareholder is willing to support the stricken property developer. The homebuilder lost about 82 billion yuan (US$12 billion) last year, it said in a preliminary earnings statement late Friday. The company has been wrestling with a liquidity crunch for more than two years, during which it leaned heavily on shareholder loans from Shenzhen Metro to service debt. Vanke also said Shenzhen Metro will provide another loan to help it repay principal and interest on bonds issued in the public market. It remains unclear whether there would be any further support from Shenzhen Metro to help address the builder’s upcoming bond maturities in the months ahead.

Source: The Edge Markets February 02, 2026 03:17 UTC