Evergrande units were suspended after being told to demolish the house

The sale of Evergrande Group shares was suspended in Hong Kong on Monday, just days after Chinese media reported that the debtor-builder was forced to demolish a development house in the southern state of Hainan.

The company, which has been among the a problems of the whole region in the country for several months, he revealed in a note to the Hong Kong Stock Exchange that the stand was “awaiting release. . . about the announcement of the contents “. The company did not add any details.

Evergrande had missed out on a number of loan repayments since September but had transferred the money she had within the grace period of 30 days. It was he was declared a failure on its debts in December by the accounting firm Fitch failed to transfer the balance due at the end of this grace period.

The company, which has been heavily indebted to China, has debts of more than $ 300bn and is at the forefront of the crisis and political crisis. re-planning. Governments and funders focus on its ability to manage hundreds of projects.

Evergrande said in a visit on December 26 that work had resumed in 92 per cent of jobs, compared to half of September, when its crisis brought global markets.

Inu Ka Yan, their billionaire chairman, also said on the spot that the company was “in a very difficult situation” and its aim was to provide assets to its owners. Many Chinese homeowners, including Evergrande, sell their homes to buyers before they are finished.

Over the weekend, Cailian, a Chinese journalist, also claimed that Evergrande had been ordered to demolish 39 houses within 10 days because his planning permit had been obtained illegally and had been revoked. The article also cited an official document from Danzhou, a city in the northwest of the island.

Selling in Evergrande shares, which they lost 89 percent of their value last year, it was suspended again in October. Hang Seng stock index fell 3 percent in sales on Monday.

Evergrande has struggled to pay interest on its global bond, which at $ 19bn exceeds that of anyone else. But for the coming weeks, that is subject to payment deadlines.

In December, it unveiled a new dangerous committee consisting of representatives of government agencies.

All Chinese manufacturers were affected write low numbers and accounting agencies around the world last year. Citi researchers found that, for the aforementioned developers, total sales by contractors fell by 1 percent in 2020 on their first decline, while Evergrande sales dropped by 39%.