Chad Bray

Hong Kong

Chad Bray

Senior Reporter, Business

Chad is a senior business reporter focused on finance. He has previously written for The New York Times, The Wall Street Journal and Dow Jones Newswires.

Show more

Latest from Chad Bray

Buffett-backed EV maker BYD gets approval from Hong Kong bourse for semiconductor unit spinoff in Shenzhen

BYD is seeking to list the semiconductor unit on Shenzhen Stock Exchange’s ChiNext board, a move to create a more equitable assessment of businesses in the car-making group.

BYD is seeking to list the semiconductor unit on Shenzhen Stock Exchange’s ChiNext board, a move to create a more equitable assessment of businesses in the car-making group.

Buffett-backed EV maker BYD gets approval from Hong Kong bourse for semiconductor unit spinoff in Shenzhen
26 Oct 2021 - 10:48PM
HSBC plans to buy back up to US$2 billion in shares, beats estimates with higher pre-tax profit

HSBC’s pre-tax profit of US$5.4 billion beats estimates of US$3.78 billion; CEO Noel Quinn says bank is ‘comfortable’ with exposure to Evergrande, mainland developers.

HSBC’s pre-tax profit of US$5.4 billion beats estimates of US$3.78 billion; CEO Noel Quinn says bank is ‘comfortable’ with exposure to Evergrande, mainland developers.

HSBC plans to buy back up to US$2 billion in shares, beats estimates with higher pre-tax profit
25 Oct 2021 - 10:26PM
Evergrande: Hong Kong banks report third-quarter results as concerns swirl over world’s most indebted developer

HSBC, Standard Chartered – two of Hong Kong’s biggest banks – previously said they have little to no direct exposure to troubled China Evergrande Group.

HSBC, Standard Chartered – two of Hong Kong’s biggest banks – previously said they have little to no direct exposure to troubled China Evergrande Group.

Evergrande: Hong Kong banks report third-quarter results as concerns swirl over world’s most indebted developer
26 Oct 2021 - 6:35AM
China and Russia challenge Japan; Kevin Rudd on Aukus, China and war
23 Oct 2021 - 3:29PM
Evergrande staves off default, paying US$83.5 million of overdue offshore bond coupon before 30-day grace period runs out

A default by Evergrande, with US$300 billion in liabilities, could set the stage for bondholders to petition for its liquidation, possibly triggering cross defaults on much of its offshore debt.

A default by Evergrande, with US$300 billion in liabilities, could set the stage for bondholders to petition for its liquidation, possibly triggering cross defaults on much of its offshore debt.

Evergrande staves off default, paying US$83.5 million of overdue offshore bond coupon before 30-day grace period runs out
22 Oct 2021 - 10:39PM
Evergrande debt crisis: How likely is it that bondholders can recoup their investments?

Questions are swirling about China Evergrande Group, and its ability to repay more than US$300 billion in liabilities, after the nation’s biggest home builder by sales missed interest payments due to its offshore bondholders. SCMP senior business reporter Chad Bray sits down with Ronald Sum, head of litigation at Addleshaw Goddard in Hong Kong, to discuss the likelihood that investors holding dollar-denominated bonds issued by the developer will ever be able to get their money back.

Questions are swirling about China Evergrande Group, and its ability to repay more than US$300 billion in liabilities, after the nation’s biggest home builder by sales missed interest payments due to its offshore bondholders. SCMP senior business reporter Chad Bray sits down with Ronald Sum, head of litigation at Addleshaw Goddard in Hong Kong, to discuss the likelihood that investors holding dollar-denominated bonds issued by the developer will ever be able to get their money back.

Evergrande debt crisis: How likely is it that bondholders can recoup their investments?
22 Oct 2021 - 10:15AM
Climate change: BIS to create Asia-focused green bond fund for central banks

Green bond fund focusing on Asia will be the third created since September 2019 by the Basel, Switzerland-based provider of financials services to central banks.

Green bond fund focusing on Asia will be the third created since September 2019 by the Basel, Switzerland-based provider of financials services to central banks.

Climate change: BIS to create Asia-focused green bond fund for central banks
21 Oct 2021 - 4:01PM
Evergrande crisis: developer Modern Land (China) cancels US$250 million bond repayment plan on liquidity issues

Modern Land had intended to repay a portion of its US$250 million junk bond due October 25 and extend the deadline by three months. Meanwhile, Chinese Estates sold its holding in Kaisa bonds at a big loss.

Modern Land had intended to repay a portion of its US$250 million junk bond due October 25 and extend the deadline by three months. Meanwhile, Chinese Estates sold its holding in Kaisa bonds at a big loss.

Evergrande crisis: developer Modern Land (China) cancels US$250 million bond repayment plan on liquidity issues
21 Oct 2021 - 10:51PM
Abu Dhabi Investment Authority to invest US$400 million in Indonesia’s GoTo Group

The Abu Dhabi Investment Authority will lead a pre-IPO fundraising round for GoTo Group, Indonesia’s biggest tech unicorn.

The Abu Dhabi Investment Authority will lead a pre-IPO fundraising round for GoTo Group, Indonesia’s biggest tech unicorn.

Abu Dhabi Investment Authority to invest US$400 million in Indonesia’s GoTo Group
20 Oct 2021 - 8:30PM
Evergrande: concerns linger even as embattled developer’s Hengda unit makes interest payment on US$327 million onshore bond

Evergrande’s onshore real estate unit made an interest payment on onshore debt on Tuesday as concerns continue to linger about the developer’s huge debt load.

Evergrande’s onshore real estate unit made an interest payment on onshore debt on Tuesday as concerns continue to linger about the developer’s huge debt load.

Evergrande: concerns linger even as embattled developer’s Hengda unit makes interest payment on US$327 million onshore bond
19 Oct 2021 - 11:03PM
FWD Group’s IPO hits potential roadblock as US regulator asks questions about Beijing’s hold over Hong Kong companies, sources say

The Securities and Exchange Commission is asking about potential risks associated with Beijing extending its authority over Hong Kong-based firms, people familiar with the matter said.

The Securities and Exchange Commission is asking about potential risks associated with Beijing extending its authority over Hong Kong-based firms, people familiar with the matter said.

FWD Group’s IPO hits potential roadblock as US regulator asks questions about Beijing’s hold over Hong Kong companies, sources say
21 Oct 2021 - 10:30AM
Evergrande suffers setback as debt-stricken developer fails to sell its US$1.7 billion Hong Kong office tower to Yuexiu Property

Guangzhou government-backed Yuexiu Property dropped its offer to buy China Evergrande’s 26-storey office tower in Wan Chai over concerns about the embattled home builder’s hefty debts, Reuters reported.

Guangzhou government-backed Yuexiu Property dropped its offer to buy China Evergrande’s 26-storey office tower in Wan Chai over concerns about the embattled home builder’s hefty debts, Reuters reported.

Evergrande suffers setback as debt-stricken developer fails to sell its US$1.7 billion Hong Kong  office tower to Yuexiu Property
16 Oct 2021 - 12:48PM
Inside ground zero of Christmas supply chains; US-China vs UN Human Rights Council
15 Oct 2021 - 4:00PM
Standard Chartered CEO: cryptocurrencies are ‘here to stay’, but likely to be overshadowed by other digital assets

There is a role for non-fiat currencies, particularly as concerns rise about inflation, Standard Chartered CEO Bill Winters said.

There is a role for non-fiat currencies, particularly as concerns rise about inflation, Standard Chartered CEO Bill Winters said.

Standard Chartered CEO: cryptocurrencies are ‘here to stay’, but likely to be overshadowed by other digital assets
14 Oct 2021 - 10:56PM
Evergrande: China faces ‘challenging trade-offs’ in addressing developer’s debt crisis, IMF says

Early intervention by regulators could minimise the risk of contagion from Evergrande, but reinforce a ‘too big to fail’ mentality, IMF says

Early intervention by regulators could minimise the risk of contagion from Evergrande, but reinforce a ‘too big to fail’ mentality, IMF says

Evergrande: China faces ‘challenging trade-offs’ in addressing developer’s debt crisis, IMF says
13 Oct 2021 - 10:54PM
HSBC boss Noel Quinn: Complex geopolitical landscape a ‘fact of life’ for global banks

Clients still want to be international, underscoring the need for lenders who bridge East and West, says Noel Quinn, the bank’s CEO.

Clients still want to be international, underscoring the need for lenders who bridge East and West, says Noel Quinn, the bank’s CEO.

HSBC boss Noel Quinn: Complex geopolitical landscape a ‘fact of life’ for global banks
11 Oct 2021 - 10:33PM
Evergrande crisis: developer Modern Land (China) seeks debt extension, to repay US$87.5 million early

Beijing-based developer Modern Land (China) is seeking an extension on its US$250 million bond to avoid ‘any potential payment default’, as concerns swirl about a potential Evergrande default and the Chinese property sector.

Beijing-based developer Modern Land (China) is seeking an extension on its US$250 million bond to avoid ‘any potential payment default’, as concerns swirl about a potential Evergrande default and the Chinese property sector.

Evergrande crisis: developer Modern Land (China) seeks debt extension, to repay US$87.5 million early
11 Oct 2021 - 8:10PM
Evergrande: default alarms put thousands of suppliers, jobs and economy at risk as developer’s IOUs balloon

Evergrande owed more than US$103 billion to its suppliers across construction, furnishings and materials sectors at the end of June. A collapse would put many out of business and jobs.

Evergrande owed more than US$103 billion to its suppliers across construction, furnishings and materials sectors at the end of June. A collapse would put many out of business and jobs.

Evergrande: default alarms put thousands of suppliers, jobs and economy at risk as developer’s IOUs balloon
9 Oct 2021 - 9:10PM
Evergrande has not engaged with offshore bondholders since payments miss, holders’ advisers say

Evergrande has not had a ‘meaningful dialogue’ with offshore bondholders since its payments miss, sparking concerns its assets could flow to other creditors.

Evergrande has not had a ‘meaningful dialogue’ with offshore bondholders since its payments miss, sparking concerns its assets could flow to other creditors.

Evergrande has not engaged with offshore bondholders since payments miss, holders’ advisers say
8 Oct 2021 - 11:04PM
Taiwan: airspace, troops and Oct 10; the EU shifts focus from China to Aukus
8 Oct 2021 - 5:21PM
China willing to cooperate on digital financial rule making, central bank’s Yi Gang says

Technology firms offering financial services should be licensed and must adopt the ‘same business, same rules’ approach, according to the top banker at the People’s Bank of China.

Technology firms offering financial services should be licensed and must adopt the ‘same business, same rules’ approach, according to the top banker at the People’s Bank of China.

China willing to cooperate on digital financial rule making, central bank’s Yi Gang says
7 Oct 2021 - 11:18PM
Fantasia downgraded to default status by rating companies as Chinese property sector crisis worsens

Missed debt payment by developer Fantasia Holdings Group this week adds to China property sector concerns spawned by Evergrande’s liquidity crisis.

Missed debt payment by developer Fantasia Holdings Group this week adds to China property sector concerns spawned by Evergrande’s liquidity crisis.

Fantasia downgraded to default status by rating companies as Chinese property sector crisis worsens
6 Oct 2021 - 10:22PM
Evergrande halts stock trading on possible sale of property management unit as more debt deadlines approach

Evergrande is racing against the clock to raise cash from asset sales as the debt-stricken developer faces more repayment deadlines on offshore debt this month.

Evergrande is racing against the clock to raise cash from asset sales as the debt-stricken developer faces more repayment deadlines on offshore debt this month.

Evergrande halts stock trading on possible sale of property management unit as more debt deadlines approach
4 Oct 2021 - 11:50PM
Evergrande: Could it be the end of the road for the world’s most indebted property developer, as US$37 billion bill comes due?

The Shenzhen-based company tapped the bond markets nearly 40 times in a four-year period and amassed hundreds of billions of yuan in bank loans as it sought to expand its core residential housing business and diversify the scope of its operations.

The Shenzhen-based company tapped the bond markets nearly 40 times in a four-year period and amassed hundreds of billions of yuan in bank loans as it sought to expand its core residential housing business and diversify the scope of its operations.

Evergrande: Could it be the end of the road for the world’s most indebted property developer, as US$37 billion bill comes due?
4 Oct 2021 - 7:32PM
Singaporean digital customer services provider TDCX raises US$349 million in US IPO

The company said it sold 19.4 million American depositary shares at US$18 a share and will begin trading on the New York Stock Exchange on Friday.

The company said it sold 19.4 million American depositary shares at US$18 a share and will begin trading on the New York Stock Exchange on Friday.

Singaporean digital customer services provider TDCX raises US$349 million in US IPO
1 Oct 2021 - 9:10PM
As US-China relations warm with Meng Wanzhou, EU-China ties chill over Taiwan
1 Oct 2021 - 12:00PM
Zoom and Five9 drop US$14.7 billion merger amid US security review over video-conference app’s operations in China

Influential proxy adviser Institutional Shareholder Services recommended against Five9 deal in part over political risks associated with Zoom’s “substantial operations in China”.

Influential proxy adviser Institutional Shareholder Services recommended against Five9 deal in part over political risks associated with Zoom’s “substantial operations in China”.

Zoom and Five9 drop US$14.7 billion merger amid US security review over video-conference app’s operations in China
2 Oct 2021 - 12:27PM
Evergrande pares Shengjing Bank stake for US$1.55 billion as distressed developer buys more time to repay bondholders

Evergrande’s founder Hui Ka-yan is racing against time to save his property empire from collapsing with more asset sales. The developer is expected to ask for more time to service another offshore bond.

Evergrande’s founder Hui Ka-yan is racing against time to save his property empire from collapsing with more asset sales. The developer is expected to ask for more time to service another offshore bond.

Evergrande pares Shengjing Bank stake for US$1.55 billion as distressed developer buys more time to repay bondholders
4 Oct 2021 - 7:32PM
Hong Kong’s planned SPAC rules could give it an edge in attracting Chinese tech, biotech firms

Hong Kong hopes its proposed listing rules for special purpose acquisition companies (SPACs) will give it more ammunition in pursuit of Chinese technology, biotech listings.

Hong Kong hopes its proposed listing rules for special purpose acquisition companies (SPACs) will give it more ammunition in pursuit of Chinese technology, biotech listings.

Hong Kong’s planned SPAC rules could give it an edge in attracting Chinese tech, biotech firms
27 Sep 2021 - 8:30AM
Evergrande’s EV unit scraps Shanghai IPO plan while CNOOC, Dongfeng Motor unveil new domestic stock offerings

Troubled developer’s car-making unit missed the opportunity to raise US$5 billion in its onshore listing plan, while CNOOC and Dongfeng Motor unveiled new offering plans in Shanghai and Shenzhen.

Troubled developer’s car-making unit missed the opportunity to raise US$5 billion in its onshore listing plan, while CNOOC and Dongfeng Motor unveiled new offering plans in Shanghai and Shenzhen.

Evergrande’s EV unit scraps Shanghai IPO plan while CNOOC, Dongfeng Motor unveil new domestic stock offerings
4 Oct 2021 - 7:31PM