Chinese real estate firm Kaisa Group at risk of default

08 Nov 2021 CW Team

After China’s real estate major Evergrande Group faced a debt repayment deadline, another realty firm Kaisa Group is at risk of default, increasing fears of further issues in the country's embattled property sector.

On Friday, shares of Kaisa Group, a Shenzhen-based company, were halted from trading in Hong Kong. The firm's subsidiaries, which also were stopped from trading, indicated a pending declaration about the group in stock exchange filings.

The firm told the media regarding its liquidity issues and confessed to missing a payment associated with its wealth management products. Kaisa said that it was facing many headwinds, like a challenging real estate market environment and the recent lowering of its credit ratings by international agencies.

The news comes as investors continue to worry over the crisis at Evergrande, China's most indebted firm. The firm has made international headlines since September, after warning that it could default on its enormous debts of over $300 billion.

Another real estate company Modern Land too is struggling to pay its debts. In recent weeks, a slew of developers has revealed their cash flow problems, asking lenders for more time to repay them or warning of potential defaults. Kaisa encountered a delay last week as Fitch and S&P Global Ratings both downgraded the firm, indicating debt concerns.

Image Source

Also read: China braces for Evergrande Group downfall: Wall Street Journal report

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..