This is why evergrande needed to borrow so much

[syed putra]

Just chongqing alone is ten times the size of sinkie. And a lot more beautiful

 

[laksaboy]

The same videos can be found on Bilibili.

Exploring Temple of Heaven & Summer Palace | Beijing's World Heritage Sites | 4K HDR | 北京 | 天坛 | 颐和园​

游览北京天坛和颐和园│春湖落日水拖蓝，天影楼台上下涵​

https://www.bilibili.com/video/BV1jo4y1X7u2/

 

[covertbriar]

Evergrande Gave Workers a Choice: Lend Us Cash or Lose Your Bonus

When the troubled Chinese property giant Evergrande was starved for cash earlier this year, it turned to its own employees with a strong-arm pitch: Those who wanted to keep their bonuses would have to give Evergrande a short-term loan.

Some workers tapped their friends and family for money to lend to the company. Others borrowed from the bank. Then, this month, Evergrande suddenly stopped paying back the loans, which had been packaged as high-interest investments.

Now, hundreds of employees have joined panicked home buyers in demanding their money back from Evergrande, gathering outside the company’s offices across China to protest last week.

Once China’s most prolific property developer, Evergrande has become the country’s most indebted company. It owes money to lenders, suppliers and foreign investors. It owes unfinished apartments to home buyers and has racked up more than $300 billion in unpaid bills. Evergrande faces lawsuits from creditors and has seen its shares lose more than 80 percent of their value this year.

Regulators fear that the collapse of a company Evergrande’s size would send tremors through the entire Chinese financial system. Yet so far, Beijing has not stepped in with a bailout, having promised to teach debt-saddled corporate giants a lesson.

The angry protests led by home buyers — and now the company’s own employees — may change that calculus.

Evergrande is on the hook to buyers for nearly 1.6 million apartments, according to one estimate, and it may owe money to tens of thousands of its workers. As Beijing remains relatively quiet about the company’s future, those who are owed cash say they are growing impatient.

“There isn’t much time left for us,” said Jin Cheng, a 28-year-old employee in the eastern city of Hefei who said he put $62,000 of his own money into Evergrande Wealth, the company’s investment arm, at the request of senior management.

As rumors rippled through the Chinese internet that Evergrande might go bankrupt this month, Mr. Jin and some of his colleagues gathered in front of provincial government offices to pressure the authorities to step in.

More at https://soo.qd/W3so

 

[congo9]

It's a regulatory failure on the side of China. How do you explain that a real Estate firm to peddle financial product?

If the above is true, banks can be a real Estate developer? They have ways to cheap funding and they have endless supply of cash with super low interest.

 

[BoonTiong]

why the city is not crowded ?

 

[laksaboy]

It's a regulatory failure on the side of China. How do you explain that a real Estate firm to peddle financial product?

If the above is true, banks can be a real Estate developer? They have ways to cheap funding and they have endless supply of cash with super low interest.

Commie regulators vs accountability... choose one.

 

[Leckmichamarsch]

Just chongqing alone is ten times the size of sinkie. And a lot more beautiful

none of your biz
myob

 

[Loofydralb]

Just chongqing alone is ten times the size of sinkie. And a lot more beautiful

Thats chongqing? Wow!
Never saw China with blue skies before. Is it fake?

 

[eatshitndie]

empty skyscrapers and lousy drivers even though streets are relatively empty. it’s not the hardware, the software is still dominated by petty peasants and crazy coolies.

 

[eatshitndie]

and sometimes it becums the “venice” of the east.

 

[nirvarq]

1. When a company starts to go downhill proprietor/owners, you can base on past years fantastic earnings as basis and sell off the company or list it in Stock Exchange and take back original capital + bonuses.

2. Then sitting as Managing Director/s of the new public financed company and enjoy top rate benefits for a couple of years. Then down the road if the company does not turnaround and make good money again you can pay high bonuses and benefits to yourself/selves like what HYFLUX did and then let the ship sink... /rofl

That's why my motto is never work for others. You create the company, work to compete in the top markets, once the company makes good money get a good business investment consultant/s the rest please refer to 1 & 2 if necessary.

With SG reputation and properties market hype up and stabilized for so many years there are tons of willing investors from all over the world especially when you can buy properties here in CASH. There are never shortage of willing investors for some a few million is chicken feeds, even if your business portfolio and investment proposal looks shady they cbf really because with a certain 'small' amount of investment dumped here you're granted Shitizenship straight away ........

That's why many new shitizen/foreigners are mostly big bullies, way 'attas' or beyond our local grade of peasants. When people can throw few million like its chicken feeds they are not common or decent folks lol..........

Did you ride the wave ? lol........

HUAT AH ~~ ! PAP BANZAI !

 

[congo9]

Commie regulators vs accountability... choose one.

Which is the lesser evil ??

 

[syed putra]

With SG reputation and properties market hype up and stabilized for so many years there are tons of willing investors from all over the world especially when you can buy properties in CASH there are never shortage of willing investor for a mere few millions is chicken feeds even if your business portfolio and investment proposal looks shady they cbf really because with a certain 'small' amount of investment dumped here you're granted Shitizenship straight away ........

Sinkie passport gets you visa free entry to many countries. That's why the rich wants it. Plus low tax regime.