Head of China Research - Forsyth Barr Asia, Forsyth Barr Asia

David Millhouse

Head of China Research - Forsyth Barr Asia

Forsyth Barr Asia

Thematic (Sector/Industry)

Kaisa failed to make an interest payment due Jan 8 on $500 million of 10.25% dollar bonds (the first Chinese property company to default on offshore bonds) and on Jan 12 got a waiver on a HK$400 million loan from HSBC.&nbsp; The notes dropped 40 percent last month as some of Kaisa’s Shenzhen projects were blocked and executives including founder Kwok Ying Shing quit. They continued to fall in January, reaching 29.9 cents on the dollar on Jan. 7. Its $800 million of 8.875 percent 2018 bonds also plunged.

Kaisa failed to make an interest payment due Jan 8 on $500 million of 10.25% dollar bonds (the first Chinese property company to default on offshore bonds) and on Jan 12 got a waiver on a HK$400 million loan from HSBC.&nbsp; The notes dropped 40 percent last month as some of Kaisa’s Shenzhen projects were blocked and executives including founder Kwok Ying Shing quit. They continued to fall in January, reaching 29.9 cents on the dollar on Jan. 7. Its $800 million of 8.875 percent 2018 bonds also plunged.

China Property / Debt - when Kaisa broke our Trust

China

Shanghai Zhangjiang Hi-Tech Park Development Co.,Ltd. operates real estate development businesses. The Company provides new industry properties development, housing renovation, real estate sales, real estate rental, and other services. Shanghai Zhangjiang Hi-Tech Park Development also offers construction investment, hospitality operation, and other services.

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Shanghai Zhangjiang High A (600895 CH)

China Property / Debt - when Kaisa broke our Trust

Kaisa failed to make an interest payment due Jan 8 on $500 million of 10.25% dollar bonds (the first Chinese property company to default on...

David Millhouse

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)