Search Results for:Denise Wee
“The whole world is looking at India now,” said Wong. “It could be a once-in-a-lifetime opportunity.”
HNA missed payments to several Chinese banks and its bond yields have in recent months traded at times at levels that are often considered distressed.
The chip-assembler listed debt of more than $1 billion and assets of over $500 million in Chapter 11 papers filed in U.S. Bankruptcy Court in New York.
Representatives from eight Chinese banks’ branches in the southeastern province of Hainan, where HNA is based, met with the group.
The assets held by the dirty dozen include Essar Steel, Bhushan Steel and Bhushan Power & Steel.
The government’s pledge of capital for beleaguered state banks could make it easier for distressed funds to buy loans.
Concerns are rising that undeserving companies are benefiting while households are getting saddled with risks.
Fidelity International in May became the first global asset manager to start a private fund in China, while BlackRock Inc. said this month it is preparing to start a private fund in China.
Noble Group Ltd. plummeted in Singapore after the company warned of a quarterly loss of as much as $1.8 billion and announced the sale of more assets, abandoning its ambitions in global commodities trading and falling back on its Asian roots in a last-ditch effort to survive. The shares sank as much as 49 percent to 29.5… Read more »
The 2020 bonds fell to a record low.