Hong Kong court adjourns Shimao Group liquidation petition

27 Jun 2024 CW Team

A liquidation case against Chinese property developer Shimao Group has been postponed to July 31, as the company has once again extended a deadline for creditors concerning a debt restructuring plan. The adjournment was granted by a Hong Kong court following a consensual application from Shimao and the petitioner, state-owned lender China Construction Bank (Asia), as stated in the filing to the Hong Kong Stock Exchange.

Shimao and its advisers are actively engaged in discussions with creditors about its offshore debt restructuring proposal. The company has also extended the deadline for the early consent fee, an incentive for creditors to support the restructuring, to July 31.

The source reported that Shimao had improved the terms of its $11.5 billion offshore debt restructuring plan to gain creditor support and fend off the liquidation petition.

(Source: ET & Reuters)

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..