China's Country Garden says US$100bil Malaysia project on track

FILE PHOTO: Prospective buyers look at a model of the development at the Country Gardens' Forest City showroom in Johor Bahru, Malaysia February 21, 2017. REUTERS/Edgar Su/File Photo

KUALA LUMPUR: Embattled Chinese developer Country Garden said on Monday its $100-billion project in Malaysia was proceeding as planned and it had sufficient assets, despite concerns over its financial strength.

The comment by China's largest private developer came after it missed two dollar coupon payments this month totaling $22.5 million, fuelling fears that the country's property debt crisis could hamper a broader economic recovery and spill overseas.