Sunac China to raise HK$1.21 billion to repay corporate debt

18 Oct 2024 CW Team

Embattled property developer Sunac China announced plans to raise HK$1.21 billion through a share placement to repay existing corporate debt, amid a continued downturn in China’s property market.

The company will issue approximately 489 million shares, representing 5.6% of its current share capital, at a price of HK$2.465 per share. Sunac aims to use the proceeds primarily to manage its onshore corporate bonds, which have had their payment deadlines extended to the end of 2024.

“The board believes the placing and subscription will help the group find better solutions for its onshore public bonds,” Sunac said in a statement.

In August, Sunac reported a half-year loss of 14.96 billion yuan, largely due to the ongoing housing market slump.

China’s property sector has been under severe stress since 2021, following regulatory measures aimed at curbing developers' excessive leverage, triggering a liquidity crisis across the industry.(ET)

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..