KUALA LUMPUR — Embattled Chinese developer Country Garden said on Monday (Aug 28) its US$100-billion (S$135-billion) project in Malaysia was proceeding as planned and it had sufficient assets, despite concerns over its financial strength. The comment by China's largest private developer came after it missed two dollar coupon payments this month totalling US$22.5 million, fuelling fears that the country's property...
KUALA LUMPUR — Embattled Chinese developer Country Garden said on Monday its US$100-billion project in Malaysia was proceeding as planned and it had sufficient assets, despite concerns over its financial strength.
"Various debt management measures are considered to actively resolve the pressure of periodic liquidity, to ensure the company's long-term future development," it added, without elaborating. Malaysians have also expressed concern at the prospect of a housing glut and environmental damage from a huge land reclamation effort.
Among the new incentives offered are a special income tax rate of 15per cent for skilled workers and multiple entry visas, Anwar said in a statement on Friday.
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