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

07 May 2026

IRCON Celebrates 50 Years of Infrastructure Excellence

IRCON International, a Navratna Central Public Sector Enterprise under the Ministry of Railways, celebrated its 50th Foundation Day at Bharat Mandapam, New Delhi. The Golden Jubilee event marked five decades of contribution to India’s railway and infrastructure development, while reaffirming the company’s commitment to nation-building through engineering excellence. The celebration was attended by senior officials from the Ministry of Railways, IRCON’s leadership, industry stakeholders and employees. The event featured the launch of a commemorative coffee table book on IRCON’s 50-year ..

BorgWarner Wins Three Electric Motor Orders in Asia

BorgWarner has secured three electric motor business awards with Asian original equipment manufacturers across China and South Korea, strengthening its electrification portfolio across battery electric and hybrid vehicle applications. Production under the new programmes is expected to begin in phases from June 2026 to September 2027. In South Korea, BorgWarner will supply a stator assembly for a new electric B-segment SUV programme. The award builds on its earlier supply of hairpin eMotor technology for the customer’s multi-purpose vehicle platform, reinforcing its position as a trusted supp..

AIDO Showcases Door Systems At Aluminium Expo

AIDO, an endorsed brand of dormakaba, marked its participation at Aluminium Expo 2026, held from 1–3 May at Calicut Trade Centre, Calicut. Organised by the Aluminium Dealer Forum, the event saw AIDO showcase its SLYNK Profiled Door System and advanced Digital Door Lock range. The SLYNK Profiled Door System is designed for seamless spatial transitions, minimal aesthetics, smooth operation and optimised space use. It supports wooden doors, framed glass doors and frameless glass doors, with configurations including invisible sliding, pocket sliding, telescopic sliding, synchro sliding and singl..