CHINESE developer Sunshine 100 China Holdings has defaulted on US$178.9 million of debt and interest payments due Sunday (Dec 5), as the direct fallout of the woes of property companies in China continues to impact investors in Singapore.
Sunshine 100 was due to repay the US$170 million of principal and US$8.9 million of interest on its 10.5 per cent senior notes due 2021, which is listed on the Singapore Exchange (SGX).
But in a bourse filing on Dec 5, the company said it is unable to meet its debt obligations on the bonds “owing to liquidity issues arising from the adverse impact of a number of factors including the macroeconomic environment and the real estate industry”.
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Now you see why Crypto tanked on Friday..Someone was Liquidated.. Things are about to get real crazy.
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