China Vanke Offshore Bondholders Face Near Wipeout in Barclays Worst-Case Scenario
Offshore bondholders of distressed developer China Vanke could face near-total losses in a worst-case scenario, underscoring the deepening risks in mainland China’s property sector, South China Morning Post reported, citing a Barclays report.
Asia Bankers Fear US Scrutiny of Loans Involving Chips, China
Some bankers in Asia are starting to worry about financing deals that would grant Chinese end-users remote access to advanced US chips amid the escalating battle between the world’s two superpowers for artificial intelligence dominance, Bloomberg reported.
Vietnam’s Government Inspectorate Urges Revocation of 305 Land Certificates to Novaland Project
Vietnam’s Government Inspectorate has recommended that authorities in the south-central province of Khanh Hoa revoke 305 land-use right certificates issued to an investor linked to realty giant Novaland for a resort project, citing widespread violations in land use, planning, and project implementation, The Investor reported.
CapitaLand Investment Buys Site to Build SGD 260 million Automated Logistics Facility
CapitaLand Investment announced plans for its regional fund to develop a SGD 260 million (USD 202.5 million) automated logistics facility in Singapore, The Straits Times reported. It also announced a minority investment in smart logistics infrastructure company, Ally Logistic Property, which will lease the facility.
Fitch Places JSW Steel’s ‘BB’ Rating on Rating Watch Positive
Fitch Ratings has placed India-based JSW Steel’s Long-Term Issuer Default Rating of ‘BB’ on Rating Watch Positive. This follows approval by the board of JSW to form a 50:50 joint venture with Japan-based JFE Steel Corporation, which will buy the steel assets owned by Bhushan Power and Steel Limited, a JSW subsidiary.