Oceanwide Holdings Co Ltd Credit Report

02 April 2019

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Oceanwide Holdings Co, a Shenzhen-listed property developer-turned-financial services provider, still has a lot of work to do to manage its liabilities in 2019. On 19 March, the company announced the completion of a deal to sell four land parcels in Beijing and Shanghai -- held via indirect subsidiary Oceanwide Real Estate Holdings -- to Sunac Real Estate for CNY 12.6bn cash. As part of the deal, CNY 27.9bn of the subsidiary’s debt was transferred to Sunac, including CNY 10.1bn current debt as of end-November, as per a 20 January valuation report.