Evergrande chairman Hui Ka-yan admitted the company he founded was at risk of default. Photo: Nora Tam
Evergrande chairman Hui Ka-yan admitted the company he founded was at risk of default. Photo: Nora Tam

Indebted China Evergrande faces risk of loan defaults, legal action, billionaire chairman Hui Ka-yan admits as profit tanks

  • The world’s most heavily indebted home builder has suspended construction at some projects, says Hui, as half-year profit plummets by 29 per cent
  • The Shenzhen-based developer can now only hope to survive, not make profit, says Ivan Li of Loyal Wealth Management

Evergrande chairman Hui Ka-yan admitted the company he founded was at risk of default. Photo: Nora Tam
Evergrande chairman Hui Ka-yan admitted the company he founded was at risk of default. Photo: Nora Tam
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