The founder of Evergrande is reassuring in a statement to his staff, according to state media

The founder of Evergrande is reassuring in a statement to his staff, according to state media
The founder of Evergrande is reassuring in a statement to his staff, according to state media

The chairman of bankrupt Chinese real estate giant Evergrande told his staff his group “will soon emerge from its darkest days,” state media reported on Tuesday.

The real estate developer, who is drowning in more than $ 300 billion in debt, is working to appease the anger of robbed owners and investors.

In a letter to staff on the occasion of the Mid-Autumn Festival, Xu Jiayin, who founded the group in 1996, writes, “have the firm belief that Evergrande will soon be able to come out of its prime. darker, ”reported a leading business daily, the Securities Times.

He assured that the sites will resume completely to achieve the main objective: guarantee the delivery of buildings and that it “will provide a response to buyers, investors, partners and financial institutions”.

He also thanked the staff for their immense work, as the last two days are public holidays in China.

The statement comes as the Hong Kong Stock Exchange tries to stabilize in the aftermath of a drop of more than 3%, sparked by concerns about the possible bankruptcy of Evergrande. Mainland Chinese stock exchanges were still closed on Tuesday due to a public holiday.

For its part, after a three-day weekend, Tokyo was also hit on Tuesday, falling sharply at the start of the session in the wake of other global financial centers on Monday, including Wall Street.

The real estate group had admitted last week to face “enormous pressure” and warned that it might not be able to meet its financial commitments.

Source

founder Evergrande reassuring statement staff state media

 
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