Country Garden Holdings Co. (2007.HK) warned it would not be able to meet all its overseas debt payments on time or within the relevant grace period, the latest Chinese property developer to warn of liquidity and business challenges.
The company said on Tuesday that such unpaid payments could result in an accelerated performance of obligations requested by the relevant creditors for the relevant debts.
"The Group faces significant uncertainty regarding the disposal of assets and expects the Group's liquidity to remain tight in the short to medium term," the company said.