
Singapore’s CDL Warns of Loss After China Developer Investment Swells to $1.4B
CDL’s True deal introduced it the Shanghai Hongqiao True Center and a growing financial burden
Singapore-basically based City Traits Ltd on Thursday issued a singular warning that it is some distance more seemingly to record a loss stemming from the firm’s contentious funding in mainland Chinese developer True Property Community.
In the filing with the Singapore Alternate, CDL cited “ongoing unparalleled challenges” in China’s right estate market and talked about it expected to make provisions for a discipline matter impairment loss on its 51 p.c hobby in Chongqing-basically based True.
CDL also disclosed that it had invested an total of S$1.8 billion ($1.36 billion) in True as of 31 December 2020, swelling from an initial funding of RMB 4.39 billion ($621 million) when the corporate pur...