{"id":118014,"date":"2020-07-29T12:45:21","date_gmt":"2020-07-29T05:45:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-distressed-developer-loses-us58-million-in-12-days-in-u-turn-on-kai-tak-land-deal-amid-scramble-with-hostile-creditors\/"},"modified":"2020-07-29T13:03:24","modified_gmt":"2020-07-29T06:03:24","slug":"hong-kong-distressed-developer-loses-us58-million-in-12-days-in-u-turn-on-kai-tak-land-deal-amid-scramble-with-hostile-creditors","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-distressed-developer-loses-us58-million-in-12-days-in-u-turn-on-kai-tak-land-deal-amid-scramble-with-hostile-creditors\/","title":{"rendered":"Hong Kong distressed developer loses US$58 million in 12 days in U-turn on Kai Tak land deal amid scramble with hostile creditors"},"content":{"rendered":"


\nCash-strapped Hong Kong developer Goldin Financial Holdings said it had found a new buyer for its waterfront residential plot in Kai Tak, less than two weeks after agreeing to sell the property to an offshore buyer. The change of mind comes with an immediate loss of HK$450 million (US$58 million).Goldin signed an agreement on Monday to sell the asset known as Kai Tak Area 4B Site 4 in Kowloon for HK$3.477 billion to yet another little-known entity called Yan You, it said in a Hong Kong stock\u2026
\n
\nSource : South China Morning Post
\nRead more…Hong Kong distressed developer loses US million in 12 days in U-turn on Kai Tak land deal amid scramble with hostile creditors<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cash-strapped Hong Kong developer Goldin Financial Holdings said it had found a new buyer for...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-118014","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uHs","jetpack-related-posts":[{"id":116221,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goldin-financial-loses-record-us331-5-million-on-resale-of-land-at-kai-tak-as-coronavirus-darkens-outlook-for-hong-kongs-property-market\/","url_meta":{"origin":118014,"position":0},"title":"Goldin Financial loses record US$331.5 million on resale of land at Kai Tak as coronavirus darkens outlook for Hong Kong\u2019s property market","date":"May 11, 2020","format":false,"excerpt":"\r A Hong Kong developer has suffered the biggest loss on a land sale in the city\u2019s history, offloading a residential plot at Kai Tak to raise cash to help it weather a market slump caused by the coronavirus pandemic.Goldin Financial Holdings, controlled by Pan Sutong, one of Hong Kong\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117834,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cash-strapped-developer-goldin-seeks-to-raise-another-hk8-7-billion-in-loans-and-sell-kai-tak-site-to-pay-piling-debts\/","url_meta":{"origin":118014,"position":1},"title":"Cash-strapped developer Goldin seeks to raise another HK$8.7 billion in loans and sell Kai Tak site to pay piling debts","date":"July 16, 2020","format":false,"excerpt":"\r Goldin Financial Holdings, which staged a spectacular U-turn in 2018 from buying Hong Kong\u2019s most expensive waterfront land, said it is actively looking for capital to repay a growing pile of debt, as its stock lost nearly 70 per cent in value since October.The company, controlled by billionaire Pan\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107982,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developer-walks-away-from-hk11-1-billion-kai-tak-project-citing-social-contradiction-and-economic-instability\/","url_meta":{"origin":118014,"position":2},"title":"Hong Kong developer walks away from HK$11.1 billion Kai Tak project, citing \u2018social contradiction and economic instability\u2019","date":"June 11, 2019","format":false,"excerpt":"\r The Hong Kong developer that beat out several of the city's biggest and wealthiest property groups for a commercial plot at the former Kai Tak airport in May has had a change of mind after less than a month, saying it will abandon the offer, citing \u201csocial contradiction and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117924,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/li-ka-shings-ck-asset-makes-first-step-in-rescue-of-distressed-hong-kong-developer-goldin-as-hostile-creditors-seize-assets\/","url_meta":{"origin":118014,"position":3},"title":"Li Ka-shing\u2019s CK Asset makes first step in rescue of distressed Hong Kong developer Goldin as hostile creditors seize assets","date":"July 23, 2020","format":false,"excerpt":"\r Hong Kong\u2019s most-famous billionaire Li Ka-shing has sent a top lieutenant to help rescue a cash-strapped developer in the first major blow-up and restructuring to unfold from the city\u2019s property market slump.Goldin Financial Holdings, the troubled developer with HK$18.5 billion of liabilities, named Gerald Ma Lai-chee as vice-chairman and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107142,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-seafront-commercial-plot-of-land-on-kai-tak-runway-sells-for-record-hk11-1-billion\/","url_meta":{"origin":118014,"position":4},"title":"First seafront commercial plot of land on Kai Tak runway sells for record HK$11.1 billion","date":"May 15, 2019","format":false,"excerpt":"\r The first seafront commercial plot of land on the runway of Hong Kong\u2019s former airport, Kai Tak, has sold for a record HK$11.1 billion (US$1.41 billion), the city\u2019s Lands Department said on Wednesday.Hong Kong developer Goldin Financial Holdings shrugged off the turmoil of an escalating trade war to win\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139162,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developer-sino-land-wins-kai-tak-land-tender-with-a-676-million-bid-a-nine-year-low-beating-a-crowded-field-of-rivals\/","url_meta":{"origin":118014,"position":5},"title":"Hong Kong developer Sino Land wins Kai Tak land tender with a $676 million bid, a nine year-low, beating a crowded field of rivals","date":"September 13, 2023","format":false,"excerpt":"\r Sino Land outbid its rivals with a winning price of HK$5.3 billion for a plot of land in Hong Kong\u2019s Kai Tak neighbourhood, which some analysts said was conservative given the stagnating economic environment.\r \r Source : South China Morning Post\r Read more...Hong Kong developer Sino Land wins Kai\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118014"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=118014"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=118014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=118014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=118014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}