Tag: Country Garden default

BEIJING: Country Garden Holdings Co warned that it may default on its debt and raised concerns about staying in business after the embattled Chinese developer posted a record first-half loss of almost $7 billion.The Foshan-based company said that if its financial performance continues to deteriorate, the group might not be able to meet its debt obligations, “which may result in default,” according to a filing Wednesday. It also cited “material uncertainties” that may cast “significant doubt on the group’s ability to continue as a going concern.”The warnings highlight...