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FAR EAST CONSORTIUM INTERNATIONAL (00035.HK) Bonds Slump Sharply; Foreign Media: Local Small and Mid-sized Developers Still Face Liquidity Pressure
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JPM forecast that Hong Kong home prices may rise by as much as 15% this year. According to a report by Bloomberg, although Hong Kong's property market is showing signs of recovery, some local small and mid-sized developers are still facing renewed liquidity pressure, leaving them in a more precarious position than larger industry peers. The report noted that smaller developers may have greater exposure to commercial real estate, where the pace of recovery has been relatively slow. The report mentioned that bond prices of FAR EAST CONSORTIUM INTERNATIONAL (00035.HK) recorded their biggest single-day decline since end-2022 on Thursday (2nd). The company had earlier stated that the distribution originally scheduled for April 18 on its USD360 million perpetual capital notes would be deferred to the next distribution payment date. The report said this marked the first time the company had taken such action. The report cited Zhu Lei, Head of Asia Fixed Income at Fidelity International, as saying that smaller developers typically hold older or single-asset properties, whose valuations have fallen significantly in a high interest rate environment. This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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