Game Over - Vanke Defaults

[hepburn21]

China Vanke Co., the distressed builder that surprised markets last week when it proposed an unspecified delay in paying a local bond, has now asked holders to wait a year to be made whole, as it faces mounting liquidity pressure amid waning state support.

Shenzhen-based Vanke, once the nation’s largest builder by sales, told creditors Monday that it was seeking a one-year delay to pay the 2 billion yuan ($283 million) note originally due on Dec. 15 along with interest, people familiar with the matter said. During the extension period, the 3% coupon would remain unchanged, according to the people, who asked not to be identified discussing private matters.

The state-backed builder announced its request last week to delay repayment on the local bond — the first of a 13.4 billion yuan wall of repayments stretching through mid-2026. But it had not specified details of the proposal. The move sent some of Vanke’s notes plunging to record lows and sparked broaders concerns about Beijing’s commitment to support even its largest distressed developers.

No one could be reached when Vanke was called.

 

[laksaboy]

Tiong dirty money drying up. Delay here, delay there no use one.

 

[ftan42]

Other builders facing similar situations as Vanke included Evergrande Group, Country Garden Holdings Co., and Sunac China Holdings. They continued to expand excessively and over-leveraged themselves by issuing bonds to fund their operations.

 

[hepburn21]

Xi xi pee pick fight with Japan n distract from economic woes.

Now xi backed down and lose face. dare not to escalate.

 

[k1976]

DBS, OCBC and others owed $306m by S’pore car-sharing service Shariot and related firms​

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Debt from hire-purchase agreements formed the bulk of the amount owed by the group of companies including car-sharing service Shariot.

ST PHOTO: AZMI ATHNI

Follow topic:​

Banks and financial institutions

Summary

• 18 related companies, including Autobahn Rent A Car and Shariot, seek a moratorium to halt creditor actions due to $305.9 million in debts.
• Debts, largely from vehicle hire-purchase agreements, affect creditors like DBS ($94.8m), Teck Wei Credit ($70m) and Toyota Financial Services ($25m).
• Fleet insurance termination threats and potential account freezes could cripple operations; the High Court will hear the application on Dec 5

 

[k1976]

S’pore car-sharing service Shariot and related firms potentially restructuring amid $180m debt​

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Car-sharing company Shariot is among nine related companies potentially restructuring.

ST PHOTO: AZMI ATHNI

Follow topic:​

Debt restructuring/Insolvency

Summary

• Shariot and eight related firms seek creditor reprieve to explore restructuring options due to $180 million debt, mainly from Autobahn Rent A Car.
• Autobahn Rent A Car's earnings declined due to rising costs and falling rental fees; rental contracts are currently unaffected by this request
• The companies are assessing options like court protection and schemes of arrangement, major motor dealers are among creditors.

 

[k1976]

Bitcoin logs its worst day since March​

PUBLISHED MON, DEC 1 2025 2:30 AM ESTUPDATED AN HOUR AGO

Liz Napolitano@LIZKNAPOLITANO
Hugh Leask
WATCH LIVE

KEY POINTS

• Bitcoin and ether fell sharply on Monday.
• Risk-off sentiment in broader markets hangs over digital assets as sell-off resumed in December.
• In Asia, shares in digital assets-related stocks dropped after the People's Bank of China warned of illegal activities.

Bitcoin and ether fell sharply on Monday, as the recent sell-off in cryptocurrencies resumed.

Bitcoin was last seen at about $85,894.03 at 04:19 p.m. ET, a 6% slide. Ether dropped 8.4% to hit $2,776.39.

 

[k1976]

Crypto Downturn Wipes Out Almost $1 Billion in Levered Bets​

By Suvashree Ghosh and Muyao Shen
December 1, 2025 at 8:53 AM GMT+8
Updated on
December 2, 2025 at 5:55 AM GMT+8
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Translate

Takeaways by Bloomberg AI​

Almost $1 billion of leveraged crypto positions were liquidated during another sharp drop in prices on Monday that brought fresh momentum to a wide-ranging selloff.

Bitcoin slid as much as 8% to $83,824 in New York, bringing its decline since early October to almost 30%. Ether dropped as much as 10% to as low as $2,719, and is down 36% over the past seven weeks.

The market downturn has been even tougher on smaller, less liquid tokens that traders often gravitate toward because of their higher volatility and typical outperformance during rallies. A MarketVector index tracking the bottom half of the largest 100 digital assets is down almost 70% this year.

 

[ftan42]

The consistently record-breaking COE bidding prices indicate a robust performance in related car industries, whether for private use or commercial purposes. However, despite the strong demand, companies may still face challenges such as declining earnings and falling rental fees, which could lead to financial strain, including debts amounting to $180 million.

 

[k1976]

The consistently record-breaking COE bidding prices indicate a robust performance in related car industries, whether for private use or commercial purposes. However, despite the strong demand, companies may still face challenges such as declining earnings and falling rental fees, which could lead to financial strain, including debts amounting to $180 million.

COE is a world class safe haven assets mah
Some rich big shots too psycho Gao Lee Gao Lee

 

[50000]

The consistently record-breaking COE bidding prices indicate a robust performance in related car industries, whether for private use or commercial purposes. However, despite the strong demand, companies may still face challenges such as declining earnings and falling rental fees, which could lead to financial strain, including debts amounting to $180 million.

let them burn!!!!

 

[syed putra]

Crypto Downturn Wipes Out Almost $1 Billion in Levered Bets​

By Suvashree Ghosh and Muyao Shen
December 1, 2025 at 8:53 AM GMT+8
Updated on
December 2, 2025 at 5:55 AM GMT+8
Save
Translate

Takeaways by Bloomberg AI​

Almost $1 billion of leveraged crypto positions were liquidated during another sharp drop in prices on Monday that brought fresh momentum to a wide-ranging selloff.

Bitcoin slid as much as 8% to $83,824 in New York, bringing its decline since early October to almost 30%. Ether dropped as much as 10% to as low as $2,719, and is down 36% over the past seven weeks.

The market downturn has been even tougher on smaller, less liquid tokens that traders often gravitate toward because of their higher volatility and typical outperformance during rallies. A MarketVector index tracking the bottom half of the largest 100 digital assets is down almost 70% this year.

Tjis is how US got rich. On speculative transaction. Non productive effort.