CDL, Sincere in war of words over liquidity woes

S'pore property giant refutes claims from Chinese firm over missed debt repayment

The Starlight 68 Mall (above) in Chongqing is among the properties that Sincere owns and operates in China, according to a release in 2019. CDL says Sincere's liquidity issues are connected to the economic fallout from the pandemic and structural policy shifts in the real estate sector in the country. PHOTO: CDL
Aw Cheng Wei
China Correspondent
Updated
Mar 15, 2021, 05:00 AM
Published
Mar 15, 2021, 05:00 AM
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Sincere Property Group was already one of the largest real estate developers in Chongqing in central China before it made headlines here when Singapore property giant City Developments' (CDL) investment in the Chinese developer came under scrutiny.

Sincere, which owns and operates properties in about 20 cities in China, has reportedly been facing liquidity challenges, noted analysts and the Chinese media.

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A version of this article appeared in the print edition of The Straits Times on March 15, 2021, with the headline CDL, Sincere in war of words over liquidity woes. Subscribe

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