Credit score rankings of Chinese language property corporations have suffered following exhibition of low transparency or poor company governance. “Poor transparency and governance can result in downgrades,” warned an SP International Scores report final month.
One such instance is that of Fantasia Holdings, a property developer managed by the niece of former Chinese language President, Zeng Qinghong.
Child Zeng Jie – also called Zeng Baobao – owns 57.7 per cent of the agency, in line with the Hong Kong Inventory Trade web site. Not directly, she additionally owns 68.1 % of Fantasia subsidiary, Color Life Companies Group, given the corporate’s 67.1 per cent stake.
On February 28,…
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