Businessman Chen Hongtian Faces Pressure to Repay Overdue Property Loans worth More than $200 Million

Quick Summary:

Chen Hongtian, who had snapped up mansions and offices in Hong Kong and London, faces demands from banks to repay more than US$200 million of overdue loans following the market slump.

An ongoing downturn in office markets worldwide has weighed further on properties previously owned by Cheung Kei Group.

Chen, his wife and his son had made a similar personal guarantee for that loan, which was payable on March 21.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: Hong Kong

Topics: According Group Bank Chen Loans Interest London Million March Cheung Hong

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-22 @ 12:34:36 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 412 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 20784835

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