Senior notes issued by the firm matured on 3 July 2022.

  • principal amount & accrued and unpaid interest became due and payable

The Company has not made payment (as at the date of this announcement on July 3 in Hong Kong)

The firm is in discussion with creditors. The amount referred to is circa US$1bn.

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China property sector woes are showing nop sign of going away any time soon.