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China's Country Garden says $100 billion Malaysia project on track
Embattled Chinese developer Country Garden said on Monday its $100-billion project in Malaysia was proceeding as planned and it had sufficient assets, despite concerns about its financial strength amid debt woes. The comment by China’s largest private developer came after it missed two dollar coupon payments this month totaling $22.5 million, fuelling fears that the country’s property debt crisis could hamper a broader economic recovery and spill overseas. “Our company’s projects in Malaysia are operating normally and the sales performance is strong,” the developer’s Singapore and Malaysia unit said in a
August 28, 2023