SINGAPORE - Debt-laden Chinese homebuilder Kaisa Group Holdings, whose bonds are traded in Sinagpore - warned on Thursday that it is likely to report a slump in earnings for its 2014 financial year.

"The board wishes to inform the shareholders of the company and the potential investors that, based on a preliminary review of the financial information that is currently available to the management of the company, it is expected that the group will experience a substantial decline in its consolidated net profit attributable to owners of the company for the year ended 31 December 2014 as compared with the year ended 31 December 2013," the company said in a filing to the Singapore Exchange.

Last week, Kaisa disclosed that its debts totalled more than US$10 billion and said it needed to urgently restructure its borrowings in order for a proposed takeover by fellow developer Sunac China Holdings to proceed.

Kaisa, which is also embroiled in an anti-graft probe, missed a coupon payment in January on dollar bonds due in 2020. It avoided becoming the first Chinese homebuilder to default on such securities when it met the obligation at the end of a 30-day grace period earlier this month. Two more bond coupons come due on March 18 and March 19.

Kaisa's shares are listed on the Hong Kong Stock Exchange.