Property News · March 29, 2018

Sunac China makes US$2.62 billion provision for investment losses related to Leshi


Sunac China has set aside 16.6 billion yuan (US$2.62 billion) for possible losses related to its investment and guarantees in the debt-laden Leshi Internet Information and Technology, after conceding that efforts to revitalise the company have been inconclusive.
Sunac, the fourth-largest developer in China by sales value, announced the provision in its 2017 annual results filed Thursday morning. The provision figure includes 9.98 billion yuan for a debt write down, 2.1 billion yuan of impaired…

Source : South China Morning Post
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