The Fantasia chapter of the Evergrande saga is a Pandora’s Box


Fantasia’s revenue is not even one-tenth that of China Evergrande Group, which is near the brink of a collapse; its US$12.9bil (RM53.9bil) debt is a fraction of Evergrande’s US$300bil (RM1.3 trillion)-plus obligations. Yet Fantasia’s failure to make a US$206mil (RM860.8mil) dollar-denominated bond payment on Oct 4 sent the markets tumbling.

UNTIL this week, no one cared about Fantasia Holdings Group Co, a smallish developer that ranks only 64th in China’s vast real-estate industry.

Fantasia’s revenue is not even one-tenth that of China Evergrande Group, which is near the brink of a collapse; its US$12.9bil (RM53.9bil) debt is a fraction of Evergrande’s US$300bil (RM1.3 trillion)-plus obligations.

Save 30% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Insight , Fantasia , evergrande , Pandora's Box , bond , debt , payment , markets ,

Next In Business News

More bullishness on Philippine equities
Rising solar module prices to challenge cost discipline
Turning footfall into higher profits
Chinese tea chains pour into US
Capitalising on the tourism momentum
Leadership exodus tests Malaysia’s digital banks
POWERING ASEAN’S DIGITAL GROWTH
Jobs mantra in Davos
Navigating Fed uncertainty
Doubts over Viet reform drive

Others Also Read