/raid1/www/Hosts/bankrupt/TCRAP_Public/241126.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
A S I A P A C I F I C
Tuesday, November 26, 2024, Vol. 27, No. 237
Headlines
A U S T R A L I A
AMPED AUTOMATION: Second Creditors' Meeting Set for Nov. 28
AUSTRANSMISSION PTY: First Creditors' Meeting Set for Nov. 27
GENETIC TECHNOLOGIES: First Creditors' Meeting Set for Dec. 2
H&G LIVING: First Creditors' Meeting Set for Nov. 27
JD & LH CO: First Creditors' Meeting Set for Dec. 2
NATIONAL NARROWBAND: First Creditors' Meeting Set for Nov. 26
PATEL HOSPITALITY: Second Creditors' Meeting Set for Nov. 27
SWOOP AERO: Creditors Vote to Place Company Into Liquidation
WATTLELAND PTY: First Creditors' Meeting Set for Nov. 28
H O N G K O N G
NEW WORLD: To Focus on Debt Management Before Pursuing M&A
I N D I A
AAREN INTPRO: CARE Keeps C Debt Rating in Not Cooperating Category
ANKIT DIAMONDS: ICRA Keeps D Debt Ratings in Not Cooperating
ARIHANT DREAM: CARE Keeps D Debt Rating in Not Cooperating
AXIS GARMENT: ICRA Keeps D Debt Ratings in Not Cooperating
B. K. ROY: CARE Keeps D Debt Rating in Not Cooperating Category
BAHRA EDUCATIONAL: ICRA Keeps D Debt Ratings in Not Cooperating
BALDOVINO: ICRA Keeps D Debt Ratings in Not Cooperating Category
BIRBAL DASS: CARE Keeps C Debt Rating in Not Cooperating Category
BIRBHUM CHEMICALS: CARE Keeps D Debt Rating in Not Cooperating
EAST COAST: ICRA Keeps D Debt Ratings in Not Cooperating Category
EMPERIA REALTY: CARE Keeps D Debt Rating in Not Cooperating
FORTIS HEALTHCARE: ICRA Keeps D Debt Ratings in Not Cooperating
HARROW EDUCATIONAL: CARE Keeps D Debt Rating in Not Cooperating
HIMANSHU INDUSTRIES: CARE Keeps D Debt Rating in Not Cooperating
INNOTECH EDUCATIONAL: CARE Keeps D Debt Rating in Not Cooperating
JAI BHOLE: ICRA Withdraws B+ Rating on INR12cr LT Loan
MOON SYNDICATE: CARE Keeps D Debt Rating in Not Cooperating
PADMAVATI ASSOCIATES: CARE Keeps C Debt Rating in Not Cooperating
PALLISHREE LIMITED: CARE Keeps D Debt Ratings in Not Cooperating
RAIGARH CHAMPA: ICRA Keeps D Debt Ratings in Not Cooperating
SANTOSHI LEATHER: ICRA Keeps D Debt Ratings in Not Cooperating
SIMPLEX INFRA: CARE Keeps D Debt Ratings in Not Cooperating
SORT INDIA: ICRA Keeps D Debt Rating in Not Cooperating Category
SPICEJET LTD: Faces Two New Fresh Insolvency Petitions
SREEVEN CONSTRUCTIONS: CARE Keeps C Debt Rating in Not Cooperating
VADERA TRADELINK: CARE Keeps D Debt Ratings in Not Cooperating
YOGESH CHOUDHARY: CARE Keeps D Debt Ratings in Not Cooperating
J A P A N
NIO INC: Net Loss Widens to CNY5 Billion in Q3 Ended Sept. 30
NISSAN MOTOR: About 1,000 US Staff Accept Early Retirement
M A L A Y S I A
ZELAN BHD: CEO Mohd Ariff Resigns After Three Months in Job
N E W Z E A L A N D
BUILD ONCE: Creditors' Proofs of Debt Due on Dec. 24
JOYFUL CONSTRUCTION: Creditors' Proofs of Debt Due on Dec. 24
MARLBOROUGH SIGNS: Creditors' Proofs of Debt Due on Jan. 14
MASANI HOMES: Court to Hear Wind-Up Petition on Nov. 28
R-LITS CONTRACTING: Ordered to Co-Operate With Liquidators
TE ARAWA: Maketu Pies Maker Goes Into Voluntary Liquidation
Z500 LIMITED: Court to Hear Wind-Up Petition on Nov. 28
P H I L I P P I N E S
PH RESORTS: Uy Still Finalizing Restructuring Deal with Landbank
S I N G A P O R E
CP RESIDENCES: Court Enters Wind-Up Order
DAI LOU: Court Enters Wind-Up Order
EAGLE STEWARDING: Court to Hear Wind-Up Petition on Dec. 6
EQUAVERSE PTE: Creditors' Meetings Set for Dec. 5
GARAGE NORTH: Court to Hear Wind-Up Petition on Dec. 20
GLOBSOL SINGAPORE: Court Enters Wind-Up Order
LIRICH RESOURCES: Court to Hear Wind-Up Petition on Nov. 29
SHUANG YUN: Faces Trading Suspension Amid Liquidation
X X X X X X X X
[*] BOND PRICING: For the Week Nov. 18, 2024 to Nov. 22, 2024
- - - - -
=================
A U S T R A L I A
=================
AMPED AUTOMATION: Second Creditors' Meeting Set for Nov. 28
-----------------------------------------------------------
A second meeting of creditors in the proceedings of Amped
Automation Pty Ltd has been set for Nov. 28, 2024 at 11:30 a.m. at
Hall Chadwick Chartered Accountants at Level 40, 2 Park Street in
Sydney and via virtual meeting technology.
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Nov. 27, 2024 at 5:00 p.m.
Nicholas Wollinski and Richard Albarran of WLP Restructuring were
appointed as administrators of the company on Oct. 24, 2024.
AUSTRANSMISSION PTY: First Creditors' Meeting Set for Nov. 27
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of
Austransmission Pty Ltd will be held on Nov. 27, 2024 at 11:00 a.m.
online via Microsoft Teams.
Joshua Philip Taylor of Taylor Insolvency was appointed as
administrator of the company on Nov. 15, 2024.
GENETIC TECHNOLOGIES: First Creditors' Meeting Set for Dec. 2
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of Genetic
Technologies Limited will be held on Dec. 2, 2024, at 11:00 a.m.
via virtual meeting only.
Andrew Michael Smith and Robert Allan Jacobs of Auxuilium Partners
were appointed as administrators of the company on Nov. 20, 2024.
H&G LIVING: First Creditors' Meeting Set for Nov. 27
----------------------------------------------------
A first meeting of the creditors in the proceedings of H&G Living
Pty Ltd will be held on Nov. 27, 2024 at 3:00 p.m. at Level 2,72
Pitt Street in Sydney or via Zoom.
Antony Resnick and Henry Kwok of DVT Group were appointed as
administrators of the company on Nov. 15, 2024.
JD & LH CO: First Creditors' Meeting Set for Dec. 2
---------------------------------------------------
A first meeting of the creditors in the proceedings of JD & LH Co
Pty Ltd will be held on Dec. 2, 2024, at 9:00 a.m. via virtual
meeting only.
Stephen Dixon of Hamilton Murphy Advisory was appointed as
administrators of the company on Nov. 20, 2024.
NATIONAL NARROWBAND: First Creditors' Meeting Set for Nov. 26
-------------------------------------------------------------
A first meeting of the creditors in the proceedings Of National
Narrowband Network Communications Pty Ltd will be held on Nov. 26,
2024 at 12:00 p.m. at the offices of Cor Cordis at Level 29, 360
Collins Street in Melbourne and via virtual meeting technology.
Barry Wight and Catherine Margaret Conneely of Cor Cordis were
appointed as administrators of the company on Nov. 15, 2024.
PATEL HOSPITALITY: Second Creditors' Meeting Set for Nov. 27
------------------------------------------------------------
A second meeting of creditors in the proceedings of Patel
Hospitality Pty Ltd has been set for Nov. 27, 2024 at 11:00 a.m.
via teleconference only.
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Nov. 26, 2024 at 4:00 p.m.
Stephen Dixon of Hamilton Murphy Advisory was appointed as
administrators of the company on Oct. 23, 2024.
SWOOP AERO: Creditors Vote to Place Company Into Liquidation
------------------------------------------------------------
Startup Daily reports that the dream is over for drone delivery
startup Swoop Aero, with creditors voting on Nov. 19 to place the
venture capital-backed business in liquidation.
Swoop raised more than $26 million in VC funding, with CSIRO-backed
Main Sequence, impact fund Giant Leap, US investor In-Q-Tel, the
defence tech investment arm of the CIA, Artesian, Folklore
Ventures, Right Click Capital and Blackbird among its investors, as
well as Startmate.
Cofounder and CEO Eric Peck placed Swoop Aero Pty Ltd and
Kookaburra Aerospace Pty Ltd in voluntary administration on October
14, hoping a restructure would deliver a path forward, but the
second creditors' meeting last week brought things to an end, just
two years after a reported $100 million takeover offer, according
to Startup Daily.
"As a founder of the business, my focus now is on bringing the
right financial partners and key stakeholders to the table to
enable a successful restructure," Startup Daily quotes Mr. Peck as
saying at the time.
"I'm confident that with the right support, Swoop Aero will
continue to lead the way in drone logistics, delivering innovative
solutions and transforming healthcare and essential goods delivery
across the globe."
Administrators, now liquidators BPS Reconstruction and Recovery did
not respond to Startup Daily's request for comment and similar
requests to investors were either declined or did not elicit a
response.
The creditor's report prepared by administrators revealed that the
business lost $9.3 million in FY2023, on the back of $6.6 million
in revenue, Startup Daily discloses.
It said the directors blamed the failure on a lack of additional
capital to complete and commercialise the final product
Startup Daily relates that the administrator said "poor strategic
management" and a sluggish economy were partly to blame, but the
business also suffered from under-capitalisation and "inadequate
cash flow or high cash use" alongside "significant expenditure" on
research and development.
Mr. Peck had previously claimed to the media that was under
pressure from a key investor to cut costs and was unable to secure
"just a few hundred thousand dollars" to complete production of its
Kite drones, first announced in 2021.
He said they were "stuck in a loop where we needed to ramp up
manufacturing to ramp up revenue, but we needed capital".
Startup Daily adds that the Kite was developed by Australian-based
engineers to travel at up to 200km/h across a range of more than
180km on a single battery charge, with a 5kg payload. It featured
at the recent Landf Forces defence expo in Melbourne.
The company's initial fleet of "Kookaburra" drones was recently
retired from service.
Mr. Peck, a former RAAF pilot, cofounded Swoop in 2017 with
engineer Joshua Tepper. Initially the startup focused on delivering
urgent supplies, especially medicines and vaccines, to remote
areas, partnering with governments and healthcare organisations
such as UNICEF and the Bill and Melinda Gates Foundation, making
more than 1.6 million deliveries across the Pacific and Europe,
Africa, New Zealand, and Australia.
About Swoop Aero
Swoop Aero Pty Ltd provided air transport support services. The
Company operated drones that transports essential supplies for
people. Swoop Aero served customers in Australia.
Simon Patrick Nelson of BPS Reconstruction and Recovery was
appointed as administrator of the company on Oct. 14, 2024.
WATTLELAND PTY: First Creditors' Meeting Set for Nov. 28
--------------------------------------------------------
A first meeting of the creditors in the proceedings of Wattleland
Pty Limited will be held on Nov. 28, 2024 at 11:00 a.m. at the
offices of JR Advisory at Level 1, 410 Elizabeth Street in Surry
Hills.
Scott Cameron Turner of JR Advisory was appointed as administrators
of the company on Nov. 18, 2024.
=================
H O N G K O N G
=================
NEW WORLD: To Focus on Debt Management Before Pursuing M&A
----------------------------------------------------------
The South China Morning Post reports that New World Development
(NWD) plans to take care of its debt load before considering
mergers and acquisitions to expand its business, after reshuffling
its top management this year and halting a dividend payout to
stabilise its financial position.
The Post relates that the city's most indebted home builder will
not take on new corporate activities that could hurt its cash
flows, chairman Henry Cheng Kar-shun told shareholders at a meeting
on Nov. 21. The group is also managing its dividend and stock
buy-back policies to trim leverage, he added.
"Our priority is to reduce our debts, so M&As will not be taken
into consideration for now," he said, according to a report by
local news outlet Ming Pao. The firm, which did not declare a final
dividend in its 2023 annual report, will resume payout when its
debt burden is lightened, the newspaper reported.
NWD had HK$123.7 billion (US$15.9 billion) of consolidated net debt
on June 30, the Post discloses citing the company's latest
financial report. Net gearing, or debt-to-equity ratio, jumped to
55 per cent from just under 50 per cent in December.
In recent liability management exercises, the developer completed
more than HK$16 billion of loan arrangements and debt repayments in
July and August. It also repaid HK$35 billion in loans and debts,
including buying back some of its outstanding foreign-currency
bonds at a discount.
NWD reported a HK$19.7 billion net loss for the year ended June 30,
the worst since the late Cheng Yu-tung founded the company in 1970,
the Post discloses. In a subsequent shake-up, scion Adrian Cheng
Chi-kong stepped down as CEO in September and was replaced by chief
operating officer Eric Ma Siu-cheung.
Its shares have slumped 39 per cent in Hong Kong trading this year,
trimming the firm's market capitalisation to HK$18.1 billion, the
Post notes.
Cheng rejected a proposal by some shareholders to consider
privatising New World Department Store China, a retail unit focused
on the mainland market, the Post relays citing news report. It will
look at other options to raise cash, the chairman said, after
raising about HK$10 billion from major asset sales since 2022.
In March, it sold the D-Park Shopping Centre and associated parking
spaces in Tsuen Wan to private developer Chinachem Group for
HK$4.02 billion. It sold a 51 per cent stake in a prime office
building in Cheung Sha Wan to joint venture partner Ares SSG for
HK$3.07 billion in September 2022 and the 695-room Pentahotel in
Kowloon for HK$2 billion three months later.
Cheng's family is the third richest in Hong Kong, credited with a
US$22.1 billion fortune, according to Forbes. The family controls
45.2 per cent of the equity in NWD, according to its annual
report.
About New World Development
New World Development Company Limited -- https://www.nwd.com.hk/
-- an investment holding company, operates in the property
development and investment business in Hong Kong and Mainland
China. Its property portfolio includes residential, retail, office,
and industrial properties. The company is also involved in the
loyalty program, fashion retailing and trading, and land
development businesses; and development and operation of sports
park. In addition, it operates club houses, golf and tennis
academies, and shopping malls; constructs and operates Skycity
complex; and operates department stores.
=========
I N D I A
=========
AAREN INTPRO: CARE Keeps C Debt Rating in Not Cooperating Category
------------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Aaren
Intpro (AI) continue to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 3.00 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Short Term Bank 5.00 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale & Key Rating Drivers
CARE Ratings Ltd. had, vide its press release dated October 17,
2023, placed the rating(s) of AI under the 'issuer non-cooperating'
category as AI had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. AI continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated September 1, 2024, September 11,
2024, September 21, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Bengaluru (Karnataka) based Aaren Intpro (AI) is a partnership firm
and was established in the year 1990 by Mr. Mohanlal M Patel along
with his family members under the name "Poonam Timbers". In
November 2015 the firm changed its name to current nomenclature
i.e. Aaren Intpro. The firm is primarily engaged in the trading of
interior products (basically Wood, ply wood, Laminates, veneer,
Architectural Hardware fittings, kitchen furniture, ward robes,
Tiles and sanitary fittings etc.). The firm deals into luxury
segment of interior products. AI generates 20% of the revenue from
contractors & builders, remaining 80% from retail individual
customers located across India. AI has expanded its product range
and included Architectural Hardware fittings, kitchen furniture,
ward robes, Tiles and sanitary fittings etc. AI is selling the
products under the brand names Peeltly", "In Class Veneers' among
others. The firm imports 50% of the products from Europe and
Southeast Asia countries.
ANKIT DIAMONDS: ICRA Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
ICRA has kept the Short-term rating of Ankit Diamonds in the
'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Short-term- 50.00 [ICRA]D; ISSUER NOT COOPERATING;
Fund based Rating Continues to remain under
Cash Credit 'Issuer Not Cooperating'
Category
Short Term- (25.50) [ICRA]D; ISSUER NOT COOPERATING;
Interchangeable Rating Continues to remain under
'Issuer Not Cooperating'
Category
As part of its process and in accordance with its rating agreement
with Ankit Diamonds, ICRA has been trying to seek information from
the entity so as to monitor its performance. Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.
Ankit Diamonds was established as a partnership firm in 1983 by Mr.
Kirit Shah and his four brothers. They split up their business in
2002. The firm is currently run by Mr. Kirit Shah and his son Mr.
Rikin Shah. The firm manufactures and trades in cut and polished
diamonds (CPD). The firm has its registered office in Mumbai,
marketing office at Hong Kong and manufacturing facility in Surat.
ARIHANT DREAM: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Arihant
Dream Infra Projects Limited (ADIPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 14.90 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 10,
2023, placed the rating(s) of ADIPL under the 'issuer
non-cooperating' category as ADIPL had failed to provide
information for monitoring of the rating as agreed to in its Rating
Agreement. ADIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated
September 25, 2024, October 5, 2024 and October 15, 2024 among
others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Jaipur-based (Rajasthan) ADIPL was originally incorporated in 2011
as Arihant Shivank Infrastructure Private Limited and subsequently,
changed its name to ADIPL in August, 2013. ADIPL mainly executes
residential and commercial projects in Jaipur and nearby areas. The
promoters of the company have significant experience of the
executing residential and commercial real
estate projects. The company is currently executing five projects
and all are in Jaipur namely Arihant Dynasty, Arihant Legacy,
Arihant Shree Krishnam Heights, Arihant Sai Residency, Arhiant
Awana.
Status of non-cooperation with previous CRA: ICRA has continued the
rating assigned to the bank facilities of ADIPL into Issuer Not
Cooperating category vide press release dated January 29, 2024 on
account of its inability to carry out a review in the absence of
requisite information.
AXIS GARMENT: ICRA Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA has kept the Short-term rating of Axis Garment Designer in the
'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term- 4.00 [ICRA]D; ISSUER NOT COOPERATING;
Fund based Rating Continues to remain under
Cash Credit 'Issuer Not Cooperating'
Category
Long-term- 2.50 [ICRA]D; ISSUER NOT COOPERATING;
Fund based Rating Continues to remain under
Term Loan 'Issuer Not Cooperating'
Category
As part of its process and in accordance with its rating agreement
with Axis Garment Designer, ICRA has been trying to seek
information from the entity so as to monitor its performance.
Further, ICRA has been sending repeated reminders to the entity for
payment of surveillance fee that became due. Despite multiple
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.
Axis Garment Designer is a partnership firm that was established in
2012. The firm is promoted by Mr. Avinash Gaikwad, Ms. Rashmi Gupta
and Mr. Rajendra Manjrekar. It is primarily engaged in
manufacturing texturizedyarn and fabrics. It also manufactures
readymade garments (RMG) on a small scale, mainly women's wear and
children's wear.
B. K. ROY: CARE Keeps D Debt Rating in Not Cooperating Category
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of B. K. Roy
Private Limited (BRPL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 41.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated September 5,
2023, have placed the rating(s) of BRPL under the 'issuer
non-cooperating' category as BRPL had failed to provide information
for monitoring of the rating. BRPL continues to be non-cooperative
despite repeated requests for submission of information through
e-mails dated July 21, 2024, July 31, 2024 & August 10, 2024 among
others. In line with the extant SEBI guidelines, CARE Ratings Ltd.
has reviewed the rating on the basis of the best available
information which however, in CARE Ratings Ltd.'s opinion is not
sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The ratings continue to be placed in the default grade on account
of ongoing delays in debt servicing.
Analytical approach: Combined
For arriving at the ratings, CARE has combined the financials of
Pallishree Limited (PL), Birbhum Chemicals & Fertilisers Limited
(BCFL) and B K Roy Private Limited (BRPL) as they have a common
management team, similar line of business and operational
linkages.
Outlook: Not Applicable
Detailed description of key rating drivers:
Key weaknesses
* Ongoing Delays in debt servicing: The company has reported
ongoing delays in debt servicing and has been classified as
Non-Performing Asset (NPA) as confirmed by the lenders.
Liquidity: Not Applicable
B K Roy Private Limited (BRPL)
BRPL is engaged in research, production and selling of HYV and
hybrid pollinated seeds of various cereals (like paddy, maize,
wheat) and vegetables from 2003. This apart, BRPL is also engaged
in trading of kerosene oil and construction materials like bricks,
cement, rods etc.
Birbhum Chemicals & Fertilisers Limited (BCFL)
BCFL is engaged in research, production and selling of HYV and
hybrid pollinated seeds of various cereals (like paddy, maize,
wheat) and vegetables since 1997. This apart, BCFL also has a small
nursery division for the supply of quality flowers, fruits &
aromatic plants.
Pallishree Limited
Pallishree Limited, promoted in April 1948 by Late Mr. Balai
Krishna Roy of Arambagh, West Bengal, is a part of B.K. Roy Group
of Companies. The company was initially engaged in trading of paddy
and subsequently started trading of indigenous organic fertilizers
in the state of West Bengal and adjoining states in early 1950s. In
1985, the company ventured into the business of research,
production and selling of high yielding variety (HYV) of hybrid
pollinated seeds of various cereals (paddy, maize, wheat) and
certain vegetables (potato, spinach etc). Moreover, the company
also has a Nursery and Horticulture division from late 1980s which
is engaged in facilitating growth of quality medicinal and aromatic
plants for landscaping and greening purpose. The company owns two
nurseries at Arambagh and one in Bankura (West Bengal). Apart from
this, Pallishree also has a small animal husbandry division for the
supply of dairy products.
BAHRA EDUCATIONAL: ICRA Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
ICRA has kept the Long-Term ratings for the Bank Facility of Bahra
Educational and Charitable Society (BECS) in the 'Issuer Not
Cooperating' category. The ratings are denoted as "[ICRA]D; ISSUER
NOT COOPERATING.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 15.27 [ICRA]D; ISSUER NOT COOPERATING;
Unallocated Rating Continues to remain under
'Issuer Not Cooperating'
Category
Long-term- 5.25 [ICRA]D; ISSUER NOT COOPERATING;
Fund based Rating Continues to remain under
Cash Credit 'Issuer Not Cooperating'
Category
Long-term- 24.48 [ICRA]D; ISSUER NOT COOPERATING;
Fund based Rating Continues to remain under
Term Loan 'Issuer Not Cooperating'
Category
As part of its process and in accordance with its rating agreement
with BECS, ICRA has been trying to seek information from the entity
so as to monitor its performance. Further, ICRA has been sending
repeated reminders to the entity for payment of surveillance fee
that became due. Despite multiple requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, the rating has been continued to the "Issuer Not Cooperating"
category. The rating is based on the best available information.
Bahra Educational and Charitable Society (BECS) was formed in 2009
and has set up a state private university in Shimla named Bahra
University. Bahra University has six constituent colleges which
offer engineering, management, computer applications, pharmacy,
hospitality and law courses. The total student strength across the
six colleges during AY 2016-17 is ~1800 students.
BALDOVINO: ICRA Keeps D Debt Ratings in Not Cooperating Category
----------------------------------------------------------------
ICRA has kept the Short-term rating of Baldovino in the 'Issuer Not
Cooperating' category. The rating is denoted as [ICRA]D; ISSUER NOT
COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Short-term- 10.00 [ICRA]D; ISSUER NOT COOPERATING;
Fund based Rating Continues to remain under
Cash Credit 'Issuer Not Cooperating'
Category
Short Term- (6.00) [ICRA]D; ISSUER NOT COOPERATING;
Interchangeable Rating Continues to remain under
'Issuer Not Cooperating'
Category
As part of its process and in accordance with its rating agreement
with Baldovino, ICRA has been trying to seek information from the
entity so asto monitor its performance. Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.
Baldovino was established as a proprietorship firm in 2010 by Mr.
Rikin Shah. The firm deals in manufacture and trading of cut and
polished diamonds (CPDs). It has its registered office in Mumbai.
It operates in the manufacturing facility of its group concern
(Ankit Diamonds) located in Surat. Apart from manufacture and
trading of CPD, the firm is also involved in trading of watches
imported from Hong Kong.
BIRBAL DASS: CARE Keeps C Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Birbal Dass
Ritesh Kumar (BDRK) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 21.00 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
To remain under ISSUER NOT
COOPERATING category
Rationale & Key Rating Drivers
CARE Ratings Ltd. had, vide its press release dated October 18,
2023, placed the rating(s) of BDRK under the 'issuer
non-cooperating' category as BDRK had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
BDRK continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 2, 2024,
September 12, 2024, September 22, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Hanumangarh (Rajasthan) based Birbal Das Ritesh Kumar (BDRK) was
established in 2006 as a proprietorship concern by Mr. Ritesh Kumar
Gupta. BDRK is engaged in the business of trading of agriculture
commodities and also provides commission agents services to its
customers. The firm mainly deals in barley, castor seeds,
coriander, cotton bales, mustard seeds and wheat etc. It procures
the agriculture commodities from the local mandis as well as from
farmers and sells those to different customers directly as well as
through distributors. BDRK is also engaged in the business of land
development business.
BIRBHUM CHEMICALS: CARE Keeps D Debt Rating in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Birbhum
Chemicals & Fertilisers Limited (BCFL) continue to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 110.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated September 5,
2023, have placed the rating(s) of BCFL under the 'issuer
non-cooperating' category as BCFL had failed to provide information
for monitoring of the rating. BCFL continues to be non-cooperative
despite repeated requests for submission of information through
e-mails dated July 21, 2024, July 31, 2024 & August 10, 2024 among
others. In line with the extant SEBI guidelines, CARE Ratings Ltd.
has reviewed the rating on the basis of the best available
information which however, in CARE Ratings Ltd.'s opinion is not
sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The ratings continue to be placed in the default grade on account
of ongoing delays in debt servicing.
Analytical approach: Combined
For arriving at the ratings, CARE has combined the financials of
Pallishree Limited (PL), Birbhum Chemicals & Fertilisers Limited
(BCFL) and B K Roy Private Limited (BRPL) as they have a common
management team, similar line of business and operational
linkages.
Outlook: Not Applicable
Detailed description of key rating drivers:
Key weaknesses
* Ongoing Delays in debt servicing: The company has reported
ongoing delays in debt servicing and has been classified as
Non-Performing Asset (NPA) as confirmed by the lenders.
Birbhum Chemicals & Fertilisers Limited (BCFL)
BCFL is engaged in research, production and selling of HYV and
hybrid pollinated seeds of various cereals (like paddy, maize,
wheat) and vegetables since 1997. This apart, BCFL also has a small
nursery division for the supply of quality flowers, fruits &
aromatic plants.
Pallishree Limited
Pallishree Limited, promoted in April 1948 by Late Mr. Balai
Krishna Roy of Arambagh, West Bengal, is a part of B.K. Roy Group
of Companies. The company was initially engaged in trading of paddy
and subsequently started trading of indigenous organic fertilizers
in the state of West Bengal and adjoining states in early 1950s. In
1985, the company ventured into the business of research,
production and selling of high yielding variety (HYV) of hybrid
pollinated seeds of various cereals (paddy, maize, wheat) and
certain vegetables (potato, spinach etc). Moreover, the company
also has a Nursery and Horticulture division from late 1980s which
is engaged in facilitating growth of quality medicinal and aromatic
plants for landscaping and greening purpose. The company owns two
nurseries at Arambagh and one in Bankura (West Bengal). Apart from
this, Pallishree also has a small animal husbandry division for the
supply of dairy products.
B K Roy Private Limited (BRPL) BRPL is engaged in research,
production and selling of HYV and hybrid pollinated seeds of
various cereals (like paddy, maize, wheat) and vegetables from
2003. This apart, BRPL is also engaged in trading of kerosene oil
and construction materials like bricks, cement, rods etc.
EAST COAST: ICRA Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
ICRA has kept the long-term rating of East Coast Energy Private
Limited (ECEPL) in the 'Issuer Not Cooperating' category. The
rating is denoted as [ICRA]D; ISSUER NOT COOPERATING.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 668.00 [ICRA]D; ISSUER NOT
Non-Fund Based- COOPERATING; Rating continues
Others to remain under 'Issuer Not
Cooperating' category
Long-term- 4,927.00 [ICRA]D; ISSUER NOT
Fund based COOPERATING; Rating Continues
Term Loan to remain under 'Issuer Not
Cooperating' Category
As part of its process and in accordance with its rating agreement
with ECEPL, ICRA has been trying to seek information from the
entity so as to monitor its performance Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite Information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.
ECEPL was developing a 1320 MW (2 X 660 MW) supercritical
coal-based power project at Kakarapalli village in Srikakulam
district of Andhra Pradesh. The project sponsors include Asian
Genco Pte Limited (13.3%), Navayuga group through Cobalt Power
Private Limited (33.22%), Athena Energy Ventures Private Limited &
associates (32.42% holding), Abir Infrastucture Limited &
associates (15.35% holding) and PTC India Financial Services
Limited (5.71% holding). The implementation of the project has been
delayed owing to clearance related issues earlier and later due to
funding related issues. As a result, the ECEPL was developing a
1320 MW (2 X 660 MW) supercritical coal-based power project at
Kakarapalli village in Srikakulam district of Andhra Pradesh. The
project sponsors include Asian Genco Pte Limited (13.3%), Navayuga
group through Cobalt Power Private Limited (33.22%), Athena Energy
Ventures Private Limited & associates (32.42% holding), Abir
Infrastucture Limited & associates (15.35% holding) and PTC India
Financial Services Limited (5.71% holding). The implementation of
the project has been delayed owing to clearance related issues
earlier and later due to funding related issues. As a result, the
project cost has been revised from the appraised estimate of
INR6570 crores to INR9343.15 Cr in 2015. However, there has
not been any construction progress on this project since September
2015.
EMPERIA REALTY: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Emperia
Realty (ER) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 13.75 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 10,
2023, placed the rating(s) of ER under the 'issuer non-cooperating'
category as ER had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. ER continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated September 25, 2024, October 5,
2024 and October 15, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Established in March 2015 by Mr. Govind Patel with his relatives,
Emperia Realty (ER) is engaged in real estate development &
construction of residential as well as commercial spaces. The firm
forms part of the renowned Akshar Group (AG), with Akshar
Developers (AD) being the flagship firm. AG, founded in 1995, has
developed a number of residential & commercial spaces across Navi
Mumbai.
FORTIS HEALTHCARE: ICRA Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
ICRA has kept the Long-Term and Short-Term ratings for the NCD and
CP of Fortis Healthcare Holdings Private Limited (FHHPL) in the
'Issuer Not Cooperating' category. The ratings are denoted as
"[ICRA]D; ISSUER NOT COOPERATING/[ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
NCD/DebtBonds/ 490 [ICRA]D; ISSUER NOT COOPERATING;
NCD/LTD Rating Continues to remain under
'Issuer Not Cooperating'
Category
CP/CD/Commercial 200 [ICRA]D; ISSUER NOT COOPERATING;
NCD/LTD Rating Continues to remain under
'Issuer Not Cooperating'
Category
Short Term NCD 300 [ICRA]D; ISSUER NOT COOPERATING;
Rating Continues to remain under
'Issuer Not Cooperating'
Category
As part of its process and in accordance with its rating agreement
with FHHPL, ICRA has been trying to seek information from the
entity so as to monitor its performance. Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.
Fortis Healthcare Holdings Private Limited (FHHPL) is a
holding/investment company, controlled by promoters of Religare
Enterprises and Fortis Healthcare Limited, Mr Malvinder Mohan Singh
and Mr. Shivinder Mohan Singh. FHHPL holds stake in multiple
companies/assets of Mr. Malvinder Singh, Mr. Shivinder Singh and
their associates. FHHPL, is in turn held by RHC Holding Private
Limited (RHC) and Oscar Investments Limited (Oscar), both of which
are promoter holding companies.
HARROW EDUCATIONAL: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Harrow
Educational Society (HES) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 5.39 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 20,
2023, placed the rating(s) of HES under the 'issuer
non-cooperating' category as HES had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
HES continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated October 5, 2024,
October 15, 2024 and October 25, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Uttar Pradesh based HES was established in 1981 with an objective
to provide education services. The society is managed by Er. Navin
Prasad Mathur (President), Mrs. Veena Mathur (Secretary) and Mr
Vinesh Pal Singh (Treasurer). HES provides undergraduate and
post-graduate courses in various fields of Engineering, Computers
Science, Management and Pharma. The colleges is affiliated to
Gautam Buddha Technical University and is approved by the All India
Council for Technical Education (AICTE). The society also operates
a school in the name of Harrow School providing primary and
secondary education from Nursery to class XIIth. The school is
affiliated to Central Board of Secondary Education (CBSE).
Status of non-cooperation with previous CRA: BRICKWORK has
continued the ratings assigned to the bank facilities of HES into
'Issuer not-cooperating' category vide press release dated February
28, 2024 on account of non-availability of requisite information
from the Society.
HIMANSHU INDUSTRIES: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Himanshu
Industries (HI) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 10.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 20,
2023, placed the rating(s) of HI under the 'issuer non-cooperating'
category as HI had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. HI continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated October 5, 2024, October 15, 2024
and October 25, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Himanshu Industries (HI) was established in January, 2005 as a
proprietorship firm by Mr. Himanshu Garg. The firm is engaged in
the manufacturing of corrugated boxes, mono cartons and rigid
boxes. The firm has its manufacturing unit at Faridabad, Haryana.
INNOTECH EDUCATIONAL: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Innotech
Educational Society (IES) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 19.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated October 27,
2023, placed the rating(s) of IES under the 'issuer
non-cooperating' category as IES had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
IES continues to be non-cooperative despite repeated requests for
submission of information through emails dated September 11, 2024,
September 21, 2024, October 1, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Innotech Educational Society (IES) was established in March, 2010
under the Societies Registration Act, 1860 for establishing and
operating educational institutes for imparting education in
engineering discipline in Araria, Bihar. With completion of the
Phase I of its three phased project, the society has started an
Engineering college under the name "Moti Babu Institute of
Technology (MBIT)" with 300 seats in 5 streams of engineering from
the academic year 2014- 2015. The institute is approved by All
India Council for Technical Education (AICTE) and affiliated to
Aryabhatta Technology University, Bihar. The society has been
founded & promoted by Shri Amit Kumar Das, an NRI (based in
Australia), who is a graduate and diploma holder in computer
engineering and possesses more than a decade experience in
Information Technology sector. He is also the founder & chairman of
the ISOFT Software Technologies Pvt. Ltd., a Entity engaged in
software development.
JAI BHOLE: ICRA Withdraws B+ Rating on INR12cr LT Loan
------------------------------------------------------
ICRA has withdrawn the Long-term Rating assigned to Jai Bhole Steel
Tubes Private Limited at the request of the company and based on
the No Due certificate (NDC) received from its banker. The Key
Rating Drivers, Liquidity Position, Rating Sensitivities, Key
Financials Indicators have not been captured as the rated
instruments are being withdrawn.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 12.00 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/CC COOPERATING; Withdrawn
The Company was incorporated in 2004 in the name of SVD Steels
Private Limited which was later on changed to Jai Bhole Steel Tubes
Private Limited in 2007. The company is engaged in the business of
manufacturing of Electric Resistance Welded (ERW) precision tubes
of round, square and elliptical shapes. However, the promoters of
the company are in the business of trading and manufacturing of ERW
tubes from past 3 decades. The ERW tubes find applications in
automotive segment, bicycle segment, shock absorber segment,
furniture, and general engineering industries.
MOON SYNDICATE: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Moon
Syndicate (MS) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 9.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated October 10,
2023, placed the rating(s) of MS under the 'issuer non-cooperating'
category as MS had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. MS continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated August 25, 2024, September 4,
2024, September 14, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Chhattisgarh based Moon Syndicate was established in April 1990 by
Mr. Sontosh Raj Yadav. Since its inception, the entity has been
engaged in mining, crushing and supply of iron ore, manganese ore
and ferro alloys. Presently, the entity has 226 equipment base
which includes 59 excavators & loaders, 37 dozers, 116 mining
equipment and 14 crushing equipment. The crushing facilities
of the entity are located in the state of Chhattisgarh, Madhya
Pradesh, Jharkhand and Maharashtra.
PADMAVATI ASSOCIATES: CARE Keeps C Debt Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Padmavati
Associates (PA) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 7.00 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated October 11,
2023, placed the rating(s) of PA under the 'issuer non-cooperating'
category as PA had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. PA continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated August 26, 2024, September 5,
2024, September 15, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Padmavati Associates (PA) was established in the year 2013 as a
partnership firm and is promoted by Mr. Y Suresh, Ms. Y Kavitha and
Ms. Y D Prasunamba. The firm is engaged in construction of
residential apartments and PA is currently implementing its first
project; Aakasha Lake View, located at Survey No.225/a, Opp. Mythri
Nagar, Beside Kalki Chambers, Allwin Signal, Madinaguda,
Miyapur, Hyderabad.
PALLISHREE LIMITED: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Pallishree
Limited (PL) continue to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 115.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 0.40 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated September 5,
2023, have placed the rating(s) of PL under the 'issuer
non-cooperating' category as PL had failed to provide information
for monitoring of the rating. BRPL continues to be non-cooperative
despite repeated requests for submission of information through
e-mails dated July 21, 2024, July 31, 2024 & August 10, 2024 among
others. In line with the extant SEBI guidelines, CARE Ratings Ltd.
has reviewed the rating on the basis of the best available
information which however, in CARE Ratings Ltd.'s opinion is not
sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The ratings continue to be placed in the default grade on account
of ongoing delays in debt servicing.
Analytical approach: Combined
For arriving at the ratings, CARE has combined the financials of
Pallishree Limited (PL), Birbhum Chemicals & Fertilisers Limited
(BCFL) and B K Roy Private Limited (BRPL) as they have a common
management team, similar line of business and operational
linkages.
Outlook: Not Applicable
Detailed description of key rating drivers:
Key weaknesses
* Ongoing Delays in debt servicing: The company has reported
ongoing delays in debt servicing and has been classified as
Non-Performing Asset (NPA) as confirmed by the lenders.
Pallishree Limited
Pallishree Limited, promoted in April 1948 by Late Mr. Balai
Krishna Roy of Arambagh, West Bengal, is a part of B.K. Roy Group
of Companies. The company was initially engaged in trading of paddy
and subsequently started trading of indigenous organic fertilizers
in the state of West Bengal and adjoining states in early 1950s. In
1985, the company ventured into the business of research,
production and selling of high yielding variety (HYV) of hybrid
pollinated seeds of various cereals (paddy, maize, wheat) and
certain vegetables (potato, spinach etc). Moreover, the company
also has a Nursery and Horticulture division from late 1980s which
is engaged in facilitating growth of quality medicinal and aromatic
plants for landscaping and greening purpose. The
company owns two nurseries at Arambagh and one in Bankura (West
Bengal). Apart from this, Pallishree also has a small animal
husbandry division for the supply of dairy products.
Birbhum Chemicals & Fertilisers Limited (BCFL)
BCFL is engaged in research, production and selling of HYV and
hybrid pollinated seeds of various cereals (like paddy, maize,
wheat) and vegetables since 1997. This apart, BCFL also has a small
nursery division for the supply of quality flowers, fruits &
aromatic plants.
B K Roy Private Limited (BRPL)
BRPL is engaged in research, production and selling of HYV and
hybrid pollinated seeds of various cereals (like paddy, maize,
wheat) and vegetables from 2003. This apart, BRPL is also engaged
in trading of kerosene oil and construction materials like bricks,
cement, rods etc.
RAIGARH CHAMPA: ICRA Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
ICRA has kept the long-term rating of Raigarh Champa Rail
Infrastructure Private Limited (RCRIPL) in the 'Issuer Not
Cooperating' category. The rating is denoted as [ICRA]D; ISSUER NOT
COOPERATING.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 634.54 [ICRA]D; ISSUER NOT COOPERATING;
Unallocated Rating Continues to remain under
'Issuer Not Cooperating'
Category
Long-term- 355.46 [ICRA]D; ISSUER NOT COOPERATING;
Fund based Rating Continues to remain under
Term Loan 'Issuer Not Cooperating'
Category
As part of its process and in accordance with its rating agreement
with RCRIPL, ICRA has been trying to seek information from the
entity so as to monitor its performance. Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite Information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.
RCRIPL is a special purpose vehicle promoted by the Hyderabad based
KSK Group. RCRIPL is developing a railway siding and other
associated infrastructure for transportation of coal for the 3600
MW coal based power project of KSK Mahanadi Power Company Limited
(KMPCL) (rated [ICRA]D) at Nariyara village in Janjgir- Champa
district of Chhattisgarh from the nearest railway station, which is
Akaltara. The railway siding developed by RCRIPL along with the
railway line inside the plant boundary is a merry go round (MGR)
system with incoming and outgoing line. The company is responsible
for the development, construction and operation of the 15.7 KM
(incoming and outgoing lines from power plant boundary) from
Akaltara station to power project site. RCRIPL is a 100% subsidiary
of KSK Energy Company Private Limited which is a step-down
subsidiary of KSK Power Ventur Plc.
SANTOSHI LEATHER: ICRA Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA has kept the long-term and Short-term ratings of Santoshi
Leather Works in the 'Issuer Not Cooperating' category. The rating
is denoted as [ICRA]D/[ICRA]D; ISSUER NOT COOPERATING.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Short Term- (3.00) [ICRA]D; ISSUER NOT COOPERATING;
Interchangeable Rating Continues to remain under
Others 'Issuer Not Cooperating'
Category
Short-term- 6.00 [ICRA]D; ISSUER NOT COOPERATING;
Fund based Rating Continues to remain under
Cash Credit 'Issuer Not Cooperating'
Category
Long-term/ 1.00 [ICRA]D/[ICRA]D; ISSUER NOT
Short Term COOPERATING; Rating Continues to
Unallocated remain under 'Issuer Not
Cooperating' Category
As part of its process and in accordance with its rating agreement
with Santoshi Leather Works, ICRA has been trying to seek
information from the entity so as to monitor its performance.
Further, ICRA has been sending repeated reminders to the entity for
payment of surveillance fee that became due. Despite multiple
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite Information and in
line with the aforesaid policy of ICRA, the rating has been
continued to the "Issuer Not Cooperating" category. The rating is
based on the best available information.
Established in 1989 as a proprietorship firm, Santoshi Leather
Works is primarily engaged in manufacture of industrial leather
gloves. The proprietor Mr. Swapan Kr. Ghosh has been in the same
line of business since 1979. The firm also manufactured other
industrial leather products like aprons etc depending on customer
demand; however the same has been discontinued in recent years. The
firm has a manufacturing facility in Beliaghata. The entire
manufacturing operations are carried out to a large extent
manually, though the management estimates that its manufacturing
unit has the capacity to daily manufacture around 6000 pairs. SLW
is a 100% export oriented unit and is a "Star Export House"
recognized by the Government of India.
SIMPLEX INFRA: CARE Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Simplex
Infrastructures Limited (SIL) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 2,675.40 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Long Term/ 7,900.00 CARE D/CARE D; ISSUER NOT
Short Term COOPERATING; Rating continues
Bank Facilities to remain under ISSUER NOT
COOPERATING category
Non Convertible 170.00 CARE D; ISSUER NOT COOPERATING
Debentures Rating continues to remain
under ISSUER NOT COOPERATING
Category
Non Convertible 200.00 CARE D; ISSUER NOT COOPERATING
Debentures Rating continues to remain
under ISSUER NOT COOPERATING
Category
Non Convertible 75.00 CARE D; ISSUER NOT COOPERATING
Debentures Rating continues to remain
under ISSUER NOT COOPERATING
Category
Non Convertible 50.00 CARE D; ISSUER NOT COOPERATING
Debentures Rating continues to remain
under ISSUER NOT COOPERATING
Category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 23,
2023, placed the rating(s) of SIL under the 'issuer
non-cooperating' category as SIL had failed to provide information
for monitoring of the rating and had not paid the surveillance fees
for the rating exercise as agreed to in its Rating Agreement. SIL
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and a
letter/email dated October 8, 2024,
October 18, 2024, and October 28, 2024. In line with the extant
SEBI guidelines, CARE Ratings Ltd. has reviewed the rating on
the basis of the best available information which however, in CARE
Ratings Ltd.'s opinion is not sufficient to arrive at a fair
rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The ratings take into account delays in servicing of debt
obligations by the company as mentioned in the audit report
(FY24).
Analytical approach: Standalone
Detailed description of the key rating drivers
At the time of last rating on November 23, 2023, the following were
the rating weaknesses (updated for the information available from
stock exchange).
Detailed description of key rating drivers:
Key weaknesses
* Delay in debt servicing: There are on-going delays in debt
servicing obligation of the company. The slowdown in recoveries
from clients, delays in approvals of bills from government clients
resulted in stretched liquidity position of the company, thus
resulting in delays.
SIL, incorporated in 1924, is one of the leading construction
companies of the country, belonging to Mundhra family of Kolkata.
The company is primarily engaged in EPC contracts, turnkey projects
related to civil construction across various sectors. Over the
decades, Simplex has completed large number of prestigious
contracts and has received commendation certificates from many of
its clients. The company also has overseas presence in countries
like Saudi Arabia, Bangladesh, Bahrain, UAE, Qatar, Ethiopia and
Sri Lanka.
SORT INDIA: ICRA Keeps D Debt Rating in Not Cooperating Category
----------------------------------------------------------------
ICRA has kept the Long-Term rating for the NCD of Sort India Enviro
Solutions Limited (SIESL) in the 'Issuer Not Cooperating' category.
The ratings are denoted as "[ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
NCD/DebtBonds/ 8.00 [ICRA]D; ISSUER NOT COOPERATING;
NCD/LTD Rating Continues to remain under
'Issuer Not Cooperating'
Category
As part of its process and in accordance with its rating agreement
with SIESL, ICRA has been trying to seek information from the
entity so as to monitor its performance. Further, ICRA has been
sending repeated reminders to the entity for payment of
surveillance fee that became due. Despite multiple requests by
ICRA, the entity's management has remained non-cooperative. In the
absence of requisite information and in line with the aforesaid
policy of ICRA, the rating has been continued to the "Issuer Not
Cooperating" category. The rating is based on the best available
information.
Incorporated in January 2010, Sort India Enviro Solutions Limited
(SIESL) is engaged in collection and sorting of paper recyclables
in major cities of Gujarat namely Vadodara, Ahmedabad, Surat,
Mehsana, Rajkot, Anand & Nadiad. The company promotes itself under
the name Pastiwala.com and collects recyclables from various
sources like households, companies, banks, retailers etc & also
from local waste pickers. The recyclables are then manually sorted
into different categories and sold to various recycling units. In
addition, the company also provides shredding services to banks,
accountants, lawyers, doctors etc. for disposal of confidential
data. The company has its warehouse facility in BIDC Vadodara and
is promoted by Mr. Paresh Parekh and other relatives.
SPICEJET LTD: Faces Two New Fresh Insolvency Petitions
------------------------------------------------------
Andrew Curran at ch-aviation reports that SpiceJet Ltd faces two
fresh insolvency petitions in the National Company Law Tribunal
(NCLT). Irish lessor Sabarmati Aviation claims the low-cost
carrier owes it USD5 million while JetAir 17, another Irish lessor,
said SpiceJet owes it around USD27 million.
According to ch-aviation, the two plaintiffs join a long line of
lessors and other creditors who are, or have, attempted to extract
monies SpiceJet owes them via NCLT proceedings.
During a November 18 hearing, SpiceJet's counsel, Krishnendu Datta,
said the airline would respond to the Sabarmati matter shortly but
claimed that JetAir 17 had no standing as an operational creditor
because SpiceJet entered into the relevant lease contract with
Wilmington Trust SP Services (Dublin), not JetAir, ch-aviation
relates. Dutta said JetAir 17 lacked sufficient evidence to show
it inherited the interest from Wilmington, the original
leaseholder. The NCLT directed JetAir 17 to submit documents
proving the transfer.
ch-aviation notes that the Sabarmati and JetAir 17 filings follow
Falgu Aviation Leasing Limited filing an insolvency petition at the
NCLT in October, seeking to recover USD8.1 million. In the same
month, Aviator Capital SPV Aviator ML 29641 Limited submitted an
insolvency petition over a USD7 million debt. Separately, Eusu
Logistics India Pvt. Ltd said it is owed approximately USD230,800
for unpaid freight services and also filed an insolvency petition
last month.
These companies join TechJockey InfoTech Private Limited, Alterna
Aircraft V.B. Limited, and DAE Capital special purpose vehicles
(SPVs) AWAS 36695 Ireland Limited, AWAS 36698 Ireland Limited, and
AWAS 36694 Ireland Limited trying to have SpiceJet declared
insolvent or forced to pay up, ch-aviation says.
However, in recent months the airline has managed to cull its
complainant list at the NCLT, settling several matters, including
three separate petitions filed by Aircastle, three BBAM SPVs,
Wilmington Trust SP Services (Dublin), and Engine Lease Finance
Corporation.
The NCLT has relisted the Sabarmati and JetAir 17 matters for Dec.
3, 2024, ch-aviation adds.
About Spicejet
SpiceJet Limited -- http://www.spicejet.com/-- is an India-based
low-budget air carrier. The Company operates daily flights between
major cities in India. The carrier is India's second-biggest budget
airline, after IndiGo.
SpiceJet has faced a series of insolvency petitions from various
parties in the National Company Law Tribunal (NCLT) and and the
appellate tribunal NCLAT over pending dues. These include Willis
Lease Finance, Aircastle Ireland Ltd, Wilmington Trust SP Services
(Dublin), Celestial Aviation and Engine Lease Finance BV.
SpiceJet has reached a settlement with Celestial Aviation and
Engine Lease Finance BV.
As reported in the Troubled Company Reporter-Asia Pacific in late
September 2024, the NCLT) on Sept. 23 issued notice to SpiceJet
over the plea filed by one of its operational creditors, Techjockey
Infotech Pvt Ltd.
Techjockey Infotech claimed a default of nearly INR1.2 crore owed
by SpiceJet against software services availed by them and requested
to initiate a corporate insolvency resolution process (CIRP)
against the air carrier.
SREEVEN CONSTRUCTIONS: CARE Keeps C Debt Rating in Not Cooperating
------------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Sreeven
Constructions (SC) continue to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 4.40 CARE C; Stable; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Short Term Bank 3.60 CARE A4; ISSUER NOT
Facilities COOPERATING; Rating continues
to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated October 11,
2023, placed the rating(s) of SC under the 'issuer non-cooperating'
category as SC had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. SC continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated August 26, 2024, September 5,
2024, September 15, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Hyderabad (Telangana) based, Sreveen Constructions (SC) was
established in 2013 as Partnership Firm by Mr. J Venkat Reddy, Mr.
B Subramanya Reddy and Mr. S Krishna Reddy. The firm is engaged in
civil engineering of roads, bridges and buildings for South Central
Railways and GVV Constructions (P) Limited. The day-to-day
operations of the firm are managed by Mr. J Venkat Reddy who has
experience of around 30 years in construction industry and Mr. B
Subramanya Reddy.
VADERA TRADELINK: CARE Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Vadera
Tradelink Private Limited (VTPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 12.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 3.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
Category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 9,
2023, placed the rating(s) of VTPL under the 'issuer
non-cooperating' category as VTPL had failed to provide information
for monitoring of the rating as agreed to in its Rating Agreement.
VTPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 24, 2024,
October 4, 2024 and October 14, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Barmer-based (Rajasthan) Vadera Tradelink Private Limited (VTPL)
was incorporated in 2008 as a private limited company by Mr Bhoor
Chand Jain along with other family members. The company has
diversified business structure ranges in being a registered 'AA'
class (highest in the scale of AA to E) contractor with Public
Works Department, Rajasthan (PWD) to trading of plastic goods,
paper goods and agricultural produces. It also provides the cold
storage facility.
YOGESH CHOUDHARY: CARE Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Yogesh
Choudhary (YC) continue to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 5.18 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Long Term/ 9.82 CARE D/CARE D; ISSUER NOT
Short Term COOPERATING; Rating continues
Bank Facilities to remain under ISSUER NOT
COOPERATING category
Rationale and key rating drivers
CARE Ratings Ltd. had, vide its press release dated November 10,
2023, placed the rating(s) of YC under the 'issuer non-cooperating'
category as YC had failed to provide information for monitoring of
the rating as agreed to in its Rating Agreement. YC continues to be
non-cooperative despite repeated requests for submission of
information through e-mails dated September 25, 2024, October 5,
2024 and October 15, 2024 among others.
In line with the extant SEBI guidelines, CARE Ratings Ltd. has
reviewed the rating on the basis of the best available information
which however, in CARE Ratings Ltd.'s opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Analytical approach: Standalone
Bharatpur-based (Rajasthan) Yogesh Choudhary (YC) was formed in
year 1996 by Mr. Yogesh Choudhary as a partnership firm along with
Mrs. Sunita Choudhary to share profit or loss in equal ratio. YC is
engaged in road construction and is registered as "AA" class
approved contractor (Highest in the scale of AA to E) indicating
eligibility to bid for contracts of any amount. The firm undertake
projects for road construction from Public Works Department (PWD)
and Rajasthan State Road Development and Construction Corporation
(RSRDC) and it has executed projects in the area of Alwar, Bayana
and Hindaun etc.
Status of non-cooperation with previous CRA: Brickwork has
continued the rating assigned to the bank facilities of YC into
Issuer Not Cooperating category vide press release dated March 14,
2024 on account of its inability to carry out a review in the
absence of requisite information.
=========
J A P A N
=========
NIO INC: Net Loss Widens to CNY5 Billion in Q3 Ended Sept. 30
-------------------------------------------------------------
The Standard reports that Nio Inc. said its third-quarter net loss
widened by 11 percent from one year ago to CNY5 billion as selling
prices remained low.
Nio is also the only one among the emerging trio - including Li
Auto and XPeng Inc. - that saw its net loss expand in the past
three-month period.
According to The Standard, Nio said their average selling price was
lower compared with one year earlier, citing the "changes in
product mix," without revealing the numbers.
The decreased selling prices also trimmed the third-quarter vehicle
sales by 4.1 percent to CNY16.7 billion, though the delivery volume
climbed further by 11.6 percent to a record high of 61,855 units
over the same period, The Standard relays.
Nio's revenues also dipped 2.1 percent year-on-year to about
CNY18.7 billion last quarter, despite a 7 percent rise from the
previous three-month period.
Nio's vehicle margin also jumped 210 basis points year-over-year to
13.1 percent in the past quarter, for which the company credited
the ongoing cost control.
According to The Standard, William Li Bin, founder, chairman and
chief executive of Nio, said that a boutique brand of compact
vehicles will be disclosed at Nio Day 2024 on December 21.
Nio's chief financial officer Stanley Yu Qu projected its sales
volume will hit new heights next year with its three brands.
Notably, sales of car parts, accessories, after-sales vehicle
services, and provision of power solutions grew 19.2 percent to
CNY1.98 billion in the third quarter from one year ago.
XPeng, however, saw its third-quarter net loss shrink by 53 percent
year-on-year to CNY1.81 billion and it said it expects to break
even next year.
It comes as its vehicle margin swung to 8.6 percent in the past
quarter from a negative 6.1 percent one year ago, mainly thanks to
cost reduction.
XPeng's total revenues increased by 18.4 percent year-on-year to
CNY10.1 billion in the July-September quarter, as the delivery
expanded by 16.3 percent to 46,533 units over the same period.
The income from services and others also surged 90.7 percent to
CNY1.31 billion in the past quarter, which XPeng attributed to
increased revenue from technical research and development
services.
Li Auto said its third-quarter net profit edged up 0.3 percent
year-on-year to CNY2.8 billion, adds The Standard.
About NIO Inc.
NIO Inc. designs, develops, manufactures, and sells smart electric
vehicles in China. It offers five and six-seater electric SUVs, as
well as smart electric sedans. The company also offers power
solutions, including Power Home, a home charging solution; Power
Swap, a battery swapping service; Power Charger and Destination
Charger; Power Mobile, a mobile charging service through charging
vans; Power Map, an application that provides access to a network
of public chargers and their real-time information; and One Click
for Power valet service. In addition, it provides repair,
maintenance, and bodywork services through its NIO service centers
and authorized third-party service centers; statutory and
third-party liability insurance, and vehicle damage insurance
through third-party insurers; repair and routine maintenance;
courtesy vehicle services; roadside assistance; data packages; and
auto financing and financial leasing services. Further, the company
involved in the provision of energy and service packages to its
users; design and technology development activities; manufacture of
e-powertrains, battery packs, and components; and sales and after
sales management activities. Additionally, it offers NIO Certified,
a used vehicle inspection, evaluation, acquisition, and sales
service.
Nio Inc. reported three consecutive annual net losses of CNY5.61
billion, CNY10.57 billion, and CNY14.56 billion for the years ended
Dec. 30, 2020, 2021 and 2022, respectively.
NISSAN MOTOR: About 1,000 US Staff Accept Early Retirement
----------------------------------------------------------
Reuters reports that about 6% of Nissan Motor staff in the United
States have accepted early retirement packages, a company
spokesperson said on Nov. 21, as part of the struggling Japanese
carmaker's plan to cut 9,000 jobs worldwide.
Nissan had about 17,000 employees in the U.S. as of March,
according to a security filing, Reuters relays. Roughly 1,000 U.S.
employees are set to leave Nissan by the end of this year as a
result of the early retirements.
According to Reuters, Nissan this month announced the global job
cuts and a 20% reduction in manufacturing capacity after it slashed
its annual profit outlook by 70% due to a sales slump in China and
North America.
About Nissan Motor
Nissan Motor Co., Ltd. -- https://www.nissan-global.com/EN/ --
manufactures and distributes automobiles and related parts. The
Company produces luxury cars, sports cars, commercial vehicles, and
more. Nissan Motor markets its products Worldwide.
As reported in the Troubled Company Reporter-Asia Pacific on March
4, 2024, S&P Global Ratings affirmed its 'BB+' long-term and 'B'
short-term issuer credit ratings on Nissan Motor Co. Ltd. and its
overseas subsidiaries. The outlook on the long-term rating is
stable. S&P affirmed all issue ratings on the companies.
===============
M A L A Y S I A
===============
ZELAN BHD: CEO Mohd Ariff Resigns After Three Months in Job
-----------------------------------------------------------
theedgemalaysia.com reports that Zelan Bhd's chief executive
officer Mohd Ariff Abd Samat has departed from the post three
months after his appointment.
theedgemalaysia.com relates that Mohd Ariff resigned from the
position effective immediately "to pursue other career
opportunities", according to the Practice Note 17 (PN17)
construction engineering outfit's bourse filing on Nov. 20.
The 42-year-old was appointed CEO in August, filling the post that
had then been vacant for over a year after the company terminated
his predecessor Hazimi Baharum's contract in June last year.
Zelan fell into PN17 categorisation in May last year after its
external auditor Nexia SSY PLT expressed a disclaimer of opinion on
its audited financial statements for the financial year ended Dec.
31, 2022 (FY2022).
The auditor flagged an unreconciled aggregate intercompany balance
difference of about MYR30.79 million between receivables and
payables in Zelan's opening balances that was not eliminated in
arriving at Zelan's consolidated financial statements.
theedgemalaysia.com adds that Nexia also noted that Zelan's unit,
Zelan Holdings (M) Bhd, posted a net balance receivables of
MYR241.76 million as at end-FY2022, which needed to be fully
impaired. This adjustment would cause the group's total assets to
be reduced to MYR559.56 million, while its total liabilities of
MYR715.72 million would exceed total assets by MYR156.16 million.
About three weeks after falling into PN17 status, the group
terminated Hazimi's contract before the actual expiry of the
contract of employment, theedgemalaysia.com says.
Without disclosing any particular reason for the termination, Zelan
said it gave Hazimi his three month's salary in lieu of the
required notice as per his contract, adds theedgemalaysia.com.
About Zelan
Zelan Berhad -- http://zelan.com/-- is an investment holding
company. The Company's business focus is on engineering and
construction projects, and public private partnership projects,
mainly in Malaysia.
Zelan was categorised as a PN17 company in May 2023 after its
external auditor Nexia SSY PLT expressed a disclaimer of opinion on
its audited financial statements for the financial year ended Dec.
31, 2022.
=====================
N E W Z E A L A N D
=====================
BUILD ONCE: Creditors' Proofs of Debt Due on Dec. 24
----------------------------------------------------
Creditors of Build Once Construction Limited are required to file
their proofs of debt by Dec. 24, 2024, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Nov. 19, 2024.
The company's liquidators are:
Craig Sanson
Stephen White
C/o PwC
PwC Auckland
Private Bag 92162
Victoria Street West
Auckland 1142
JOYFUL CONSTRUCTION: Creditors' Proofs of Debt Due on Dec. 24
-------------------------------------------------------------
Creditors of Joyful Construction Limited, SSB Global Limited and
Ansen Aluminium Limited are required to file their proofs of debt
by Dec. 24, 2024, to be included in the company's dividend
distribution.
Joyful Construction Limited and SSB Global Limited commenced
wind-up proceedings on Nov. 18, 2024.
Ansen Aluminium Limited commenced wind-up proceedings on Nov. 19,
2024.
The company's liquidator is:
Pritesh Patel
PO Box 23296
Manukau 2241
MARLBOROUGH SIGNS: Creditors' Proofs of Debt Due on Jan. 14
-----------------------------------------------------------
Creditors of Marlborough Signs & Apparel Limited are required to
file their proofs of debt by Jan. 14, 2025, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Nov. 18, 2024.
The company's liquidators are:
Iain Bruce Shephard
Jessica Jane Kellow
BDO Wellington, Business Restructuring
Level 1, 50 Customhouse Quay
Wellington 6011
MASANI HOMES: Court to Hear Wind-Up Petition on Nov. 28
-------------------------------------------------------
A petition to wind up the operations of Masani Homes Limited will
be heard before the High Court at Christchurch on Nov. 28, 2024, at
10:00 a.m.
The Commissioner of Inland Revenue filed the petition against the
company on Aug. 15, 2024.
The Petitioner's solicitor is:
Nanette Cunningham
Inland Revenue, Legal Services
PO Box 1782
Christchurch 8140
R-LITS CONTRACTING: Ordered to Co-Operate With Liquidators
----------------------------------------------------------
Stuff.co.nz reports that members of a family with ties to a series
of business failures have been told by the court they must tell
liquidators the names of the trustees of their family trust.
So far father and son Raymond and Spencer Bishop have refused to
share that information with the liquidators of their collapsed
labour hire company, BF7 Trading, because the liquidators want to
claw back a NZD315,000 loan given to the trust by BF7 before it
fell over, a Court of Appeal judgment said, Stuff relays.
According to Stuff, the liquidators cannot take legal action to
recoup the loan until they know who the Bishop Family Trust's
trustees are.
Stuff relates that the court decision comes just weeks after the
latest Bishop company, R-Lits Contracting (Raymond is the sole
director and shareholder of the business, but his sons Spencer and
Roy have both been involved), collapsed with debts of over NZD8
million.
It came as a surprise to BF7 Trading's sole director and 51%
shareholder Spencer Bishop, his lawyer, Mike Lennard, said on
Thursday. Lennard said Spencer had not known of the case despite
being named as an appellant - but would co-operate with
liquidators.
The liquidators, Larissa Logan and Rhys Cain, of Ernst and Young,
said loans owed by the shareholders - Raymond and Spencer - of
NZD314,933 had been changed in company records to be a loan owed by
the Bishop Family Trust, Stuff relays.
They said the trust had borrowed the full value of the company's
year-end balances in 2018 and 2019 and had then on-lent the funds
to the shareholders and to Spencer's brother, Roy.
They said without knowing the trustees' identities, litigation they
had prepared to demand the return of the money was "legally
paralysed".
They had interviewed Spencer Bishop in October 2021 but he had
refused to answer questions about the trust, on the advice of his
then lawyer, Rob Hucker.
The liquidators wrote multiple times to Spencer asking for
information and in June 2022, he said he'd asked his lawyer to send
them "the legal trust deed", but, according to court documents, he
never responded to further requests.
So last year, the liquidators went to the High Court to ask for an
order demanding the Bishops reveal the identities of the trustees,
and submit to an interview under oath in court.
At the High Court, the Bishops argued that turning over the
information would breach the Trusts Act and would also "unfairly
infringe their right to privacy". The High Court judgment said that
in response the liquidators argued that privacy shouldn't
"facilitate debtors escaping the payment of a significant debt".
They sought an order under Section 266 of the Companies Act to
compel Spencer and Raymond to produce "documents within their
control".
In a ruling last March, associate judge Rachel Sussock ruled the
orders were "reasonably necessary" because the liquidators couldn't
act to recoup the money without knowing who the trustees were. She
gave the Bishops two weeks to reveal details of the debt and the
trustees' names and contact details.
But the Bishops went to the Court of Appeal. In a decision released
this week, Justices Sarah Katz, Timothy Brewer and Rob Osborne said
the Bishops had not "established any material error" in Judge
Sussock's original decision and that privacy and confidentiality
"cannot reasonably outweigh" the liquidators' right to seek the
Section 266 orders.
Lennard, Spencer's lawyer, told Stuff: "My client says he does not
know a lot about this. His position is that his brother Roy has
been largely operating this without either his or his father's
knowledge or control."
He added: "My client will be co-operating, and we have already
contacted the liquidators' solicitors offering to cooperate as far
as he is able."
Stuff relates that Lennard said Spencer had become aware of
references to both a Bishop Family Trust and an R-Lits Family Trust
and didn't know if they were the same entity.
"It has come as a surprise to my client and he is still finding out
what is going on."
He said Spencer "as far as he knew" was not a trustee, and was not
certain who the beneficiaries of the trust or trusts were.
Raymond and Roy Bishop had not responded to Stuff's enquiries
before deadline.
TE ARAWA: Maketu Pies Maker Goes Into Voluntary Liquidation
-----------------------------------------------------------
Radio New Zealand reports that Maketu Pies has gone into voluntary
liquidation after five years of losses.
Its owner, Te Arawa Management Ltd, bought the national pie
supplier in 2019 during a receivership process but said it has
operated at a loss since, RNZ relays.
It was, at the time, the town's largest employer and had operated
for about 40 years. It had about 40 staff, mostly locals.
According to RNZ, interim chief executive Tina Kilmister-Blue said
the "difficult decision" was made after a "great deal of discussion
and deliberation".
Maketu Foods Ltd, trading as Maketu Pies, went into a solvent
liquidation process on Nov. 21, which meant it would remain
operating for now.
RNZ relates that Ms. Kilmister-Blue said that in a challenging and
competitive fast-moving consumer goods sector, the business had
operated with losses since it bought it in 2019.
"[Te Arawa Management Ltd] has continued to support the business
over the past five years, but can no longer continue to contribute
further investment to keep operating.
"This decision has not been made lightly, and a number of
alternative operating options have been explored, however, these
are not viable."
Community leaders were told of the liquidation on Nov. 21 in a
letter from Ms. Kilmister-Blue which was provided to Local
Democracy Reporting.
It outlined the sector challenges which included increasing costs
and smaller margins and how it could "no longer continue to
contribute further investment to keep operating".
Some "serious" options were investigated but none were viable as
they required significant investment.
A solvent liquidation process would "ensure all creditors and our
people are paid".
While the business winds down, BDO liquidators will manage the
process, RNZ says.
She ended the letter with: "We appreciate all our people over the
lifetime of Maketu Pies have contributed towards a Kiwi icon that
will be remembered for years to come".
Te Arawa Management Ltd is a subsidiary of Te Arawa Lakes Trust.
A notice in the Bay of Plenty Times of the liquidators' appointment
noted January 13 as the last date for creditors to make claims and
establish any priority, RNZ discloses.
Z500 LIMITED: Court to Hear Wind-Up Petition on Nov. 28
-------------------------------------------------------
A petition to wind up the operations of Z500 Limited will be heard
before the High Court at Christchurch on Nov. 28, 2024, at 10:00
a.m.
The Commissioner of Inland Revenue filed the petition against the
company on Oct. 1, 2024.
The Petitioner's solicitor is:
Arna McAvoy
Inland Revenue, Legal Services
PO Box 1782
Christchurch 8140
=====================
P H I L I P P I N E S
=====================
PH RESORTS: Uy Still Finalizing Restructuring Deal with Landbank
----------------------------------------------------------------
Bilyonaryo.com reports that Duterte crony Dennis Uy is still
working to finalize a restructuring deal with Land Bank of the
Philippines (Landbank) president and CEO Lynette Ortiz over
PHP1.355 billion in obligations tied to a subsidiary of his
financially struggling casino development company, PH Resorts.
"The group has ongoing discussions with Landbank to further extend
the principal and interest payments that are due from DHPC
(Donatela Hotel Panglao Corp.)," PH Resorts said.
According to Bilyonaryo.com, Mr. Uy originally borrowed PHP975
million from United Coconut Planters Bank (UCPB) in 2018 to fund
the acquisition of DHPC, an upscale boutique hotel in Tawala,
Panglao Island, Bohol.
When UCPB merged with Landbank in 2022, Ms. Ortiz was forced to
deal with Mr. Uy's messy loan.
Bilyonaryo.com relates that Landbank has given DHPC more time by
deferring payments until March 2024, with Mr. Uy agreeing to pay
the debt in equal installments until September 2028.
However, DHPC has not met the required debt service coverage or
debt-to-equity ratios, forcing Landbank to classify the loan as
payable as early as December 2023.
In addition to the PHP975 million loan, DHPC owes PHP364.3 million
in interest and PHP15.8 million in penalties.
While DHPC could only PHP2.43 million in partial interest this
year, Mr. Uy has pledged financial support to ensure repayment.
The loan is secured by DHPC properties and shares, with a book
value of PHP1.46 billion, Bilyonaryo.com relays.
Bilyonaryo.com notes that DHPC's financial woes mirror those of its
parent company, PH Resorts, which is struggling with a capital
deficit of PHP7.22 billion and net liabilities of PHP12.55
billion.
Mr. Uy has failed three times since last year to sell his stalled
Emerald Casino project in Cebu, which remains on hold due to a lack
of funding.
About PH Resorts
PH Resorts Group Holdings Inc. operates as a holding company. The
Company, through its subsidiaries, manages and maintains
tourism-related businesses which includes resort and casino
projects. PH Resorts Group holdings serves customers in the
Philippines.
As reported in the Troubled Company Reporter-Asia Pacific on May 2,
2024, PH Resorts (PHR) Group Holdings reported losses of PHP4.213
billion in 2023, up 270 percent from PHP1.14 billion the previous
year.
According to Bilyonaryo.com, PHR's soaring losses led SGV & Co. to
cast doubts on the firm's ability to crawl out of its deep
financial hole for the fourth consecutive year. SGV highlighted
PHR's escalating deficit (up 161 percent to PHP6.8 billion),
significant net current liabilities (down 62 percent to PHP4.1
billion), and negative operating cash flow (down 50 percent to
PHP72.4 million).
=================
S I N G A P O R E
=================
CP RESIDENCES: Court Enters Wind-Up Order
-----------------------------------------
The High Court of Singapore entered an order on Nov. 13, 2024, to
wind up the operations of CP Residences Private Limited filed the
petition against the company.
The company's liquidators are:
Leow Quek Shiong
Gary Loh Weng Fatt
c/o BDO Advisory Pte. Ltd.
600 North Bridge Road
#23-01 Parkview Square
Singapore 188778
DAI LOU: Court Enters Wind-Up Order
-----------------------------------
The High Court of Singapore entered an order on Nov. 15, 2024, to
wind up the operations of Dai Lou Pte. Ltd.
Maybank Singapore Limited filed the petition against the company.
The company's liquidator is:
Gary Loh Weng Fatt
c/o BDO Advisory Pte. Ltd.
600 North Bridge Road
#23-01 Parkview Square
Singapore 188778
EAGLE STEWARDING: Court to Hear Wind-Up Petition on Dec. 6
----------------------------------------------------------
A petition to wind up the operations of Eagle Stewarding Solutions
Pte. Ltd. will be heard before the High Court of Singapore on Dec.
6, 2024, at 10:00 a.m.
United Overseas Bank Limited filed the petition against the company
on Nov. 14, 2024.
The Petitioner's solicitors are:
M/s Advent Law Corporation
111 North Bridge Road
#25-03 Peninsula Plaza
Singapore 179098
EQUAVERSE PTE: Creditors' Meetings Set for Dec. 5
-------------------------------------------------
Equaverse Pte. Ltd. will hold a meeting for its creditors on Dec.
5, 2024, at 3:00 p.m., via audio visual conference tool.
Agenda of the meeting includes:
a. to receive a full statement of the company's affairs
together with a list of creditors and the estimated amount
of their claims;
b. to appoint liquidators;
c. to form a committee of inspection of not more than
5 members, if thought fit; and
d. any other business.
GARAGE NORTH: Court to Hear Wind-Up Petition on Dec. 20
-------------------------------------------------------
A petition to wind up the operations of Garage North Asia Holdings
Pte. Ltd. will be heard before the High Court of Singapore on Dec.
20, 2024, at 10:00 a.m.
Ledgen Singapore Pte. Ltd. filed the petition against the company
on Nov. 12, 2024.
The Petitioner's solicitors are:
Jacque Law LLC
61 Robinson Road #14-01A
Singapore 068893
GLOBSOL SINGAPORE: Court Enters Wind-Up Order
---------------------------------------------
The High Court of Singapore entered an order on Nov. 12, 2024, to
wind up the operations of Globsol Singapore Pte. Ltd.
Ripple Markets APAC Pte. Ltd. filed the petition against the
company.
The company's liquidators are:
Borrelli Cosimo
Jason Aleksander Kardachi
c/o Kroll Pte. Ltd.
10 Collyer Quay
#05-04/05, Ocean Financial Centre
Singapore 049315
LIRICH RESOURCES: Court to Hear Wind-Up Petition on Nov. 29
-----------------------------------------------------------
A petition to wind up the operations of Lirich Resources Pte. Ltd.
will be heard before the High Court of Singapore on Nov. 29, 2024,
at 10:00 a.m.
Toh Kian Foo filed the petition against the company on Nov. 5,
2024.
The Petitioner's solicitors are:
RHTLaw Asia LLP
1 Paya Lebar Link #06-08
PLQ 2 Paya Lebar Quarter
Singapore 408533
SHUANG YUN: Faces Trading Suspension Amid Liquidation
-----------------------------------------------------
TipRanks reports that Shuang Yun Holdings Limited is currently
undergoing a challenging period as its subsidiaries, Double-Trans
Pte Ltd and Samco Civil Engineering Pte Ltd, have been ordered to
liquidate by the Singapore High Court, resulting in a complete
cessation of business operations.
According to TipRanks, the company is in the process of addressing
resumption conditions set by the Hong Kong Stock Exchange to lift
the suspension of its shares, although no definitive plan is in
place due to ongoing liquidation proceedings.
Investors are advised to stay informed as further announcements
regarding trading resumption will be made, TipRanks relays.
Shuang Yun Holdings Limited offers engineering services. The
Company provides road construction, civil engineering, and
construction machinery rental services. Shuang Yun Holdings
provides its services throughout Singapore.
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week Nov. 18, 2024 to Nov. 22, 2024
-------------------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------- -----
AUSTRALIA
---------
ACN 113 874 712 PTY 13.25 02/15/18 USD 0.22
ACN 113 874 712 PTY 13.25 02/15/18 USD 0.22
VIRGIN AUSTRALIA HO 8.00 11/26/24 AUD 0.43
VIRGIN AUSTRALIA HO 7.88 10/15/21 USD 0.39
VIRGIN AUSTRALIA HO 7.88 10/15/21 USD 0.39
VIRGIN AUSTRALIA HO 8.25 05/30/23 AUD 0.34
VIRGIN AUSTRALIA HO 8.08 03/05/24 AUD 0.34
VIRGIN AUSTRALIA HO 8.13 11/15/24 USD 0.22
VIRGIN AUSTRALIA HO 8.13 11/15/24 USD 0.21
CHINA
-----
ANHUI PINGTIANHU IN 7.50 08/13/26 CNY 42.11
ANHUI PINGTIANHU IN 7.50 08/13/26 CNY 40.00
ANLU CONSTRUCTION D 7.80 11/28/26 CNY 63.22
ANLU CONSTRUCTION D 7.80 11/28/26 CNY 60.00
ANNING DEVELOPMENT 8.00 12/04/25 CNY 20.77
ANNING DEVELOPMENT 8.00 12/04/25 CNY 20.74
ANNING DEVELOPMENT 8.80 09/11/25 CNY 20.72
ANSHANG WANGTONG CO 7.50 05/06/26 CNY 41.80
ANSHANG WANGTONG CO 7.50 05/06/26 CNY 41.74
ANSHUN CITY XIXIU I 8.00 01/29/26 CNY 41.36
ANSHUN CITY XIXIU I 7.90 11/15/25 CNY 40.95
ANSHUN CITY XIXIU I 8.00 01/29/26 CNY 40.67
ANYUE XINGAN CITY D 7.50 05/06/26 CNY 41.73
ANYUE XINGAN CITY D 7.50 01/30/25 CNY 20.20
ANYUE XINGAN CITY D 7.50 01/30/25 CNY 20.20
BIJIE CITY ANFANG C 7.80 01/18/26 CNY 41.29
BIJIE CITY ANFANG C 7.80 01/18/26 CNY 40.55
BIJIE QIXINGGUAN DI 8.05 08/16/25 CNY 20.75
BIJIE TIANHE URBAN 8.05 12/03/25 CNY 41.09
BIJIE TIANHE URBAN 8.05 12/03/25 CNY 40.76
CAOXIAN SHANG DU IN 7.80 10/28/26 CNY 42.55
CAOXIAN SHANG DU IN 7.80 10/28/26 CNY 42.54
CHANGDE DEYUAN INVE 7.70 06/11/25 CNY 20.60
CHANGDE DEYUAN INVE 7.70 06/11/25 CNY 20.59
CHANGDE DINGCHENG J 7.58 10/19/25 CNY 20.85
CHANGDE DINGCHENG J 7.58 10/19/25 CNY 20.84
CHENGDU GARDEN WATE 8.00 06/13/25 CNY 20.42
CHENGDU GARDEN WATE 8.00 06/13/25 CNY 20.00
CHISHUI CITY CONSTR 8.50 01/18/26 CNY 41.31
CHISHUI CITY CONSTR 8.50 01/18/26 CNY 41.28
CHONGQING HONGYE IN 7.50 12/24/26 CNY 62.96
CHONGQING JIANGLAI 7.50 10/26/25 CNY 20.87
CHONGQING JIANGLAI 7.50 10/26/25 CNY 20.00
CHONGQING NANCHUAN 7.80 08/06/26 CNY 42.08
CHONGQING SHUANGFU 7.50 09/09/26 CNY 42.44
CHONGQING THREE GOR 7.80 03/01/26 CNY 41.59
CHONGQING THREE GOR 7.80 03/01/26 CNY 40.00
CHONGQING TONGRUI A 7.50 09/18/26 CNY 42.38
CHONGQING TONGRUI A 7.50 09/18/26 CNY 40.00
CHONGQING WANSHENG 7.50 03/27/25 CNY 20.73
CHONGQING WANSHENG 7.50 03/27/25 CNY 20.28
CHONGQING WANSHENG 8.50 11/25/25 CNY 30.78
CHONGQING YUDIAN ST 8.00 11/30/25 CNY 41.08
CHUYING AGRO-PASTOR 8.80 06/26/19 CNY 1.00
DALI URBAN DEVELOPM 8.00 12/25/25 CNY 41.87
DALI URBAN DEVELOPM 8.00 12/25/25 CNY 41.23
DAWA COUNTY CITY CO 7.80 01/30/26 CNY 41.33
DAWA COUNTY CITY CO 7.80 01/30/26 CNY 38.80
DAWU COUNTY URBAN C 7.50 09/20/26 CNY 42.35
DAWU COUNTY URBAN C 7.50 09/20/26 CNY 40.00
DING NAN CITY CONST 7.80 04/08/26 CNY 41.42
DING NAN CITY CONST 7.80 04/08/26 CNY 40.00
DUJIANGYAN NEW CITY 7.80 10/11/25 CNY 20.78
DUJIANGYAN NEW CITY 7.80 10/11/25 CNY 20.50
DUJIANGYAN NEW CITY 7.80 05/02/25 CNY 20.45
DUJIANGYAN NEW CITY 7.80 05/02/25 CNY 20.00
DUJIANGYAN XINGYAN 7.50 11/01/26 CNY 42.69
FANGCHENG GANGSHI W 7.93 12/25/25 CNY 21.05
FANGCHENG GANGSHI W 7.95 10/11/25 CNY 20.91
FANGCHENG GANGSHI W 7.93 12/25/25 CNY 20.00
FANGCHENG GANGSHI W 7.95 10/11/25 CNY 20.00
FANTASIA GROUP CHIN 7.50 06/30/28 CNY 73.70
FANTASIA GROUP CHIN 7.80 06/30/28 CNY 44.53
FUJIAN FUSHENG GROU 7.90 12/17/21 CNY 70.99
FUJIAN FUSHENG GROU 7.90 11/19/21 CNY 60.00
FUZHOU LINCHUAN URB 8.00 02/26/26 CNY 41.56
GANZHOU NANKANG DIS 8.00 01/23/26 CNY 41.32
GANZHOU NANKANG DIS 8.00 01/23/26 CNY 40.00
GANZHOU NANKANG DIS 8.00 10/29/25 CNY 20.92
GANZHOU NANKANG DIS 8.00 09/27/25 CNY 20.84
GANZHOU NANKANG DIS 8.00 10/29/25 CNY 20.00
GANZHOU NANKANG DIS 8.00 09/27/25 CNY 20.00
GANZHOU ZHANGGONG C 7.80 10/16/25 CNY 22.68
GANZHOU ZHANGGONG C 7.80 10/16/25 CNY 20.88
GOME APPLIANCE CO L 7.80 12/21/24 CNY 37.00
GUANGAN XINHONG INV 7.50 06/03/26 CNY 43.09
GUANGAN XINHONG INV 7.50 06/03/26 CNY 41.83
GUANGDONG PEARL RIV 7.50 10/26/26 CNY 18.03
GUANGXI BAISE EXPER 7.59 01/08/26 CNY 41.16
GUANGXI BAISE EXPER 7.60 12/24/25 CNY 41.04
GUANGXI BAISE EXPER 7.60 12/24/25 CNY 40.00
GUANGXI BAISE EXPER 7.59 01/08/26 CNY 39.39
GUANGXI CHONGZUO UR 8.50 09/26/25 CNY 20.97
GUANGXI CHONGZUO UR 8.50 09/26/25 CNY 20.96
GUANGXI NINGMING HU 8.50 11/05/26 CNY 43.19
GUANGXI NINGMING HU 8.50 11/05/26 CNY 42.46
GUANGXI NINGMING HU 8.50 12/07/25 CNY 40.93
GUANGXI TIANDONG CO 7.50 06/04/27 CNY 40.00
GUANGYUAN CITY DEVE 7.50 10/25/27 CNY 26.89
GUANGYUAN YUANQU CH 7.50 07/15/26 CNY 74.02
GUANGYUAN YUANQU CO 7.50 12/23/26 CNY 62.88
GUANGYUAN YUANQU CO 7.50 10/30/26 CNY 61.77
GUANGYUAN YUANQU CO 7.50 12/23/26 CNY 60.00
GUANGYUAN YUANQU CO 7.50 10/30/26 CNY 40.00
GUANGZHOU FINELAND 13.60 07/27/23 USD 0.73
GUCHENG CONSTRUCTIO 7.88 04/27/25 CNY 20.38
GUCHENG CONSTRUCTIO 7.88 04/27/25 CNY 20.00
GUIXI STATE OWNED H 7.50 09/17/26 CNY 43.42
GUIXI STATE OWNED H 7.50 09/17/26 CNY 42.41
GUIYANG BAIYUN INDU 7.50 03/06/26 CNY 41.44
GUIYANG BAIYUN INDU 7.50 03/06/26 CNY 40.62
GUIYANG BAIYUN INDU 8.30 03/21/25 CNY 20.46
GUIYANG BAIYUN INDU 8.30 03/21/25 CNY 20.31
GUIYANG ECONOMIC DE 7.50 04/30/26 CNY 41.38
GUIYANG ECONOMIC DE 7.90 10/29/25 CNY 20.94
GUIYANG ECONOMIC DE 7.90 10/29/25 CNY 20.82
GUIYANG ECONOMIC TE 7.80 04/30/26 CNY 41.83
GUIYANG ECONOMIC TE 7.80 04/30/26 CNY 41.80
GUIYANG HI-TECH HOL 8.00 11/25/26 CNY 62.33
GUIYANG HI-TECH HOL 8.00 11/25/26 CNY 60.27
GUIZHOU CHANGSHUN C 8.50 03/19/26 CNY 41.85
GUIZHOU CHANGSHUN C 8.50 03/19/26 CNY 40.00
GUIZHOU EAST LAKE C 8.00 12/07/25 CNY 41.10
GUIZHOU EAST LAKE C 8.00 12/07/25 CNY 40.57
GUIZHOU GUIAN DEVEL 7.60 04/26/25 CNY 5.90
GUIZHOU HONGGUO ECO 7.80 02/08/25 CNY 20.23
GUIZHOU HONGGUO ECO 7.80 02/08/25 CNY 20.10
GUIZHOU HONGGUO ECO 7.80 11/24/24 CNY 20.03
GUIZHOU HONGGUO ECO 7.80 11/24/24 CNY 10.50
GUIZHOU JINFENGHUAN 7.60 08/19/26 CNY 42.26
GUIZHOU JINFENGHUAN 7.60 08/19/26 CNY 41.50
GUIZHOU SHUANGLONG 7.50 04/20/30 CNY 60.00
GUIZHOU SHUICHENG E 7.50 10/26/25 CNY 20.86
GUIZHOU SHUICHENG E 7.50 10/26/25 CNY 19.50
GUIZHOU SHUICHENG W 8.00 11/27/25 CNY 40.47
GUIZHOU SHUICHENG W 8.00 11/27/25 CNY 40.46
GUIZHOU ZHONGSHAN D 8.00 03/18/29 CNY 70.00
HAIAN URBAN DEMOLIT 8.00 12/21/25 CNY 41.19
HAIAN URBAN DEMOLIT 7.74 05/02/25 CNY 20.42
HENGYANG CITY AND U 7.80 12/14/24 CNY 20.09
HENGYANG CITY AND U 7.80 12/14/24 CNY 20.09
HONGAN URBAN DEVELO 7.50 12/04/24 CNY 20.06
HONGAN URBAN DEVELO 7.50 12/04/24 CNY 20.00
HUAINAN SHAN NAN DE 7.94 04/01/26 CNY 41.91
HUAINAN SHAN NAN DE 7.94 04/01/26 CNY 40.00
HUAINAN URBAN CONST 7.58 02/12/26 CNY 41.50
HUAINAN URBAN CONST 7.50 03/20/25 CNY 20.36
HUAINAN URBAN CONST 7.50 03/20/25 CNY 20.00
HUBEI DAYE LAKE HIG 7.50 04/01/26 CNY 41.36
HUBEI JIAKANG CONST 7.80 12/19/25 CNY 40.96
HUBEI YILING ECONOM 7.50 12/02/26 CNY 61.16
HUBEI YILING ECONOM 7.50 03/28/26 CNY 41.63
HUBEI YILING ECONOM 7.50 03/28/26 CNY 40.00
HUNAN CHUZHISHENG H 7.50 03/27/26 CNY 41.48
HUNAN CHUZHISHENG H 7.50 03/27/26 CNY 40.00
HUNAN MEISHAN RESOU 8.00 03/21/26 CNY 41.73
HUNAN MEISHAN RESOU 8.00 03/21/26 CNY 40.00
HUNAN TIANYI RONGTO 8.00 10/24/25 CNY 20.97
HUNAN TIANYI RONGTO 8.00 10/24/25 CNY 20.97
HUNAN TIANYI RONGTO 7.50 09/17/25 CNY 20.79
HUNAN XUANDA CONSTR 7.50 01/24/26 CNY 41.26
HUNAN XUANDA CONSTR 7.50 01/23/26 CNY 41.19
HUNAN XUANDA CONSTR 7.50 01/24/26 CNY 40.00
HUNAN XUANDA CONSTR 7.50 01/23/26 CNY 40.00
HUZHOU NEW CITY INV 7.50 11/23/24 CNY 20.03
HUZHOU NEW CITY INV 7.50 11/23/24 CNY 20.00
HUZHOU WUXING NANTA 7.90 09/20/25 CNY 20.92
JIA COUNTY DEVELOPM 7.50 01/21/27 CNY 62.77
JIA COUNTY DEVELOPM 7.50 01/21/27 CNY 58.00
JIAHE ZHUDU DEVELOP 7.50 03/13/25 CNY 20.31
JIAHE ZHUDU DEVELOP 7.50 03/13/25 CNY 20.00
JIANGSU YANGKOU POR 7.60 08/17/25 CNY 22.50
JIANGSU YANGKOU POR 7.60 08/17/25 CNY 20.70
JIANGSU ZHONGNAN CO 7.80 03/17/29 CNY 44.19
JIANGXI HUANGGANGSH 7.90 01/25/26 CNY 41.07
JIANGXI HUANGGANGSH 7.90 10/08/25 CNY 20.68
JIANGXI HUANGGANGSH 7.90 10/08/25 CNY 20.68
JIANGXI JIHU DEVELO 7.50 04/10/25 CNY 20.37
JIANGXI JIHU DEVELO 7.50 04/10/25 CNY 20.00
JIANGXI TONGGU CITY 7.50 04/21/27 CNY 63.89
JIANGYOU XINGYI PAR 7.50 05/07/26 CNY 51.81
JIANGYOU XINGYI PAR 7.80 12/17/25 CNY 51.00
JIANLI FENGYUAN CIT 7.50 01/14/26 CNY 41.17
JIANLI FENGYUAN CIT 7.50 01/14/26 CNY 40.00
JILIN ECONOMY TECHN 8.00 03/26/28 CNY 62.59
JILIN ECONOMY TECHN 8.00 03/26/28 CNY 59.21
JINING NEW CITY DEV 7.60 03/23/25 CNY 20.21
JINING NEW CITY DEV 7.60 03/23/25 CNY 20.00
JINXIANG COUNTY CIT 7.50 03/20/26 CNY 41.54
JINXIANG COUNTY CIT 7.50 03/20/26 CNY 40.92
JINZHOU CIHANG GROU 9.00 04/05/20 CNY 33.63
KAILI GUIZHOU TOWN 7.98 03/30/27 CNY 64.06
KAILI GUIZHOU TOWN 7.98 03/30/27 CNY 64.05
KAIYUAN CITY XINGYU 7.50 09/22/27 CNY 64.69
KAIYUAN CITY XINGYU 7.50 09/22/27 CNY 64.36
LAOTING INVESTMENT 7.50 04/11/26 CNY 41.64
LAOTING INVESTMENT 7.50 04/11/26 CNY 39.80
LIJIN CITY CONSTRUC 7.50 04/26/26 CNY 41.72
LIJIN CITY CONSTRUC 7.50 12/20/25 CNY 41.09
LIJIN CITY CONSTRUC 7.50 04/26/26 CNY 40.00
LIJIN CITY CONSTRUC 7.50 12/20/25 CNY 40.00
LINFEN YAODU DISTRI 7.50 09/19/25 CNY 20.78
LINYI COUNTY CITY D 7.78 03/21/25 CNY 20.35
LINYI COUNTY CITY D 7.78 03/21/25 CNY 20.00
LINYI ZHENDONG CONS 7.50 12/06/25 CNY 41.00
LINYI ZHENDONG CONS 7.50 11/26/25 CNY 41.00
LINYI ZHENDONG CONS 7.50 12/06/25 CNY 40.83
LINYI ZHENDONG CONS 7.50 11/26/25 CNY 40.79
LIUPANSHUI AGRICULT 8.00 04/26/27 CNY 59.40
LIUPANSHUI AGRICULT 8.00 04/26/27 CNY 59.39
LONGNAN ECO&TECH DE 7.50 07/26/26 CNY 42.04
LUANCHUAN COUNTY TI 8.50 01/23/26 CNY 41.47
LUANCHUAN COUNTY TI 8.50 01/23/26 CNY 40.00
LUOHE ECONOMIC DEVE 7.50 12/18/25 CNY 41.09
LUOHE ECONOMIC DEVE 7.50 12/18/25 CNY 41.03
LUOYANG XIYUAN STAT 7.80 01/29/26 CNY 41.40
LUOYANG XIYUAN STAT 7.80 01/29/26 CNY 41.20
LUOYANG XIYUAN STAT 7.50 11/15/25 CNY 41.13
LUOYANG XIYUAN STAT 7.50 11/15/25 CNY 40.79
MAANSHAN NINGBO INV 7.50 04/18/26 CNY 41.65
MAANSHAN NINGBO INV 7.80 11/29/25 CNY 41.01
MAANSHAN NINGBO INV 7.80 11/29/25 CNY 41.00
MAANSHAN NINGBO INV 7.50 04/18/26 CNY 16.00
MEISHAN CITY DONGPO 8.00 01/03/26 CNY 41.26
MEISHAN CITY DONGPO 8.00 01/03/26 CNY 40.00
MEISHAN CITY DONGPO 8.08 08/16/25 CNY 20.77
MEISHAN CITY DONGPO 8.08 08/16/25 CNY 20.00
MEISHAN HONGSHUN PA 7.50 12/10/25 CNY 51.41
MENGZHOU INVESTMENT 8.00 11/06/25 CNY 20.96
MENGZHOU INVESTMENT 8.00 09/03/25 CNY 20.79
MENGZHOU INVESTMENT 8.00 11/06/25 CNY 20.00
MENGZHOU INVESTMENT 8.00 09/03/25 CNY 20.00
MENGZI CITY DEVELOP 8.00 03/25/26 CNY 42.25
MENGZI CITY DEVELOP 8.00 03/25/26 CNY 41.62
MIAN YANG ECONOMIC 8.00 09/29/26 CNY 42.63
MIAN YANG ECONOMIC 8.20 03/15/26 CNY 41.65
MIAN YANG ECONOMIC 8.00 09/29/26 CNY 40.00
MIAN YANG ECONOMIC 8.20 03/15/26 CNY 40.00
MIANYANG ANZHOU INV 7.90 11/25/26 CNY 62.98
MIANYANG ANZHOU INV 7.90 11/25/26 CNY 60.00
MIANYANG ANZHOU INV 8.10 11/22/25 CNY 41.06
MIANYANG ANZHOU INV 8.10 11/22/25 CNY 40.00
MIANYANG ANZHOU INV 8.10 05/04/25 CNY 20.49
MIANYANG ANZHOU INV 8.10 05/04/25 CNY 20.25
MIANYANG HUIDONG IN 8.10 04/28/25 CNY 20.48
MIANYANG HUIDONG IN 8.10 02/10/25 CNY 20.27
MIANZHU CITY JINSHE 7.87 12/18/25 CNY 41.15
MIANZHU CITY JINSHE 7.87 12/18/25 CNY 41.13
MILE AGRICULTURAL I 7.60 02/27/26 CNY 41.40
MILE AGRICULTURAL I 7.60 02/27/26 CNY 41.00
MILE AGRICULTURAL I 8.00 10/25/25 CNY 20.88
MILE AGRICULTURAL I 8.00 10/25/25 CNY 20.28
MUDANJIANG LONGSHEN 7.50 09/27/25 CNY 20.79
NANCHONG JIALING DE 7.98 05/23/25 CNY 20.54
NANCHONG JIALING DE 7.80 12/12/24 CNY 20.09
NANCHONG JIALING DE 7.80 12/12/24 CNY 20.08
NANCHONG JIALING DE 7.98 05/23/25 CNY 20.00
NINGXIA SHENG YAN I 7.50 09/27/28 CNY 42.45
PANJIN CITY SHUANGT 8.50 01/29/26 CNY 41.50
PANJIN CITY SHUANGT 8.50 01/29/26 CNY 41.49
PANJIN CITY SHUANGT 8.70 12/20/25 CNY 41.34
PANJIN CITY SHUANGT 8.70 12/20/25 CNY 41.33
PANJIN LIAODONGWAN 7.50 12/28/26 CNY 62.98
PEIXIAN ECONOMIC DE 7.51 11/04/26 CNY 42.47
PEIXIAN ECONOMIC DE 7.51 11/04/26 CNY 40.00
PENGSHAN DEVELOPMEN 7.98 05/03/25 CNY 21.59
PENGSHAN DEVELOPMEN 7.98 05/03/25 CNY 20.48
PENGZE CITY DEVELOP 7.60 08/31/25 CNY 20.75
PENGZE CITY DEVELOP 7.60 08/31/25 CNY 20.75
PINGLIANG CHENGXIAN 7.80 03/29/26 CNY 41.62
PINGLIANG CHENGXIAN 7.80 03/29/26 CNY 41.40
PUDING YELANG STATE 8.00 03/13/25 CNY 20.22
PUDING YELANG STATE 8.00 03/13/25 CNY 20.07
PUDING YELANG STATE 7.79 11/13/24 CNY 20.01
PUER CITY SI MAO GU 7.50 03/14/26 CNY 41.91
PUER CITY SI MAO GU 7.50 03/14/26 CNY 41.44
QIANDONGNAN TRANSPO 8.00 01/15/27 CNY 63.43
QIANDONGNAN TRANSPO 8.00 01/15/27 CNY 63.42
QIANNANZHOU INVESTM 8.00 01/02/26 CNY 41.23
QIANXINAN AUTONOMOU 8.00 06/22/27 CNY 63.89
QIANXINAN PREFECTUR 7.99 06/10/27 CNY 62.96
QIANXINAN PREFECTUR 7.99 06/10/27 CNY 60.00
QIANXINAN WATER RES 7.50 09/25/27 CNY 64.94
QIANXINAN WATER RES 7.50 09/25/27 CNY 64.93
QINGHAI PROVINCIAL 7.88 03/22/21 USD 1.58
QINGZHEN CITY CONST 7.50 03/18/26 CNY 41.47
QINGZHEN CITY CONST 7.50 03/18/26 CNY 41.46
QINGZHOU HONGYUAN P 7.60 06/17/27 CNY 48.25
QINGZHOU HONGYUAN P 7.60 06/17/27 CNY 48.23
QINZHOU BINHAI NEW 7.70 08/15/26 CNY 42.38
QINZHOU BINHAI NEW 7.70 08/15/26 CNY 42.37
QUJING CITY QILIN D 8.50 01/21/26 CNY 41.47
QUJING CITY QILIN D 8.50 01/21/26 CNY 40.00
RENHUAI WATER INVES 8.00 12/26/25 CNY 40.73
RENHUAI WATER INVES 7.98 07/26/25 CNY 20.68
RENHUAI WATER INVES 7.98 02/24/25 CNY 20.15
RUCHENG SHUNXING IN 7.50 01/07/26 CNY 41.20
RUCHENG SHUNXING IN 7.50 01/07/26 CNY 40.00
RUDONG NEW WORLD IN 7.50 12/06/26 CNY 63.00
RUDONG NEW WORLD IN 7.50 12/06/26 CNY 60.00
RUILI RENLONG INVES 8.00 09/20/26 CNY 42.05
SHAANXI XIYUE HUASH 7.50 12/27/26 CNY 62.88
SHAANXI XIYUE HUASH 7.50 12/27/26 CNY 62.30
SHANDONG HONGHE HOL 7.50 01/29/26 CNY 41.14
SHANDONG OCEAN CULT 7.50 04/25/26 CNY 41.64
SHANDONG OCEAN CULT 7.50 03/28/26 CNY 41.56
SHANDONG RENCHENG R 7.50 01/23/26 CNY 41.07
SHANDONG RUYI TECHN 7.90 09/18/23 CNY 52.10
SHANDONG SANXING GR 7.90 08/30/27 CNY 58.00
SHANDONG URBAN CAPI 7.50 04/12/26 CNY 41.55
SHANDONG URBAN CAPI 7.50 04/12/26 CNY 40.00
SHANGLI GANXIANG CI 7.80 01/22/26 CNY 41.10
SHANGLI GANXIANG CI 7.80 01/22/26 CNY 40.49
SHANGLI GANXIANG CI 7.50 06/01/25 CNY 20.47
SHANGLI GANXIANG CI 7.50 06/01/25 CNY 20.42
SHANGRAO GUANGXIN U 7.95 07/24/25 CNY 20.67
SHANGRAO GUANGXIN U 7.95 07/24/25 CNY 20.67
SHANXI JINZHONG STA 7.50 05/05/26 CNY 41.73
SHAOYANG SAISHUANGQ 8.00 11/28/25 CNY 41.03
SHAOYANG SAISHUANGQ 8.00 11/28/25 CNY 40.00
SHEHONG STATE OWNED 7.60 10/25/25 CNY 20.88
SHEHONG STATE OWNED 7.60 10/22/25 CNY 20.87
SHEHONG STATE OWNED 7.50 08/22/25 CNY 20.71
SHEHONG STATE OWNED 7.60 10/25/25 CNY 20.00
SHEHONG STATE OWNED 7.60 10/22/25 CNY 20.00
SHEHONG STATE OWNED 7.50 08/22/25 CNY 20.00
SHENWU ENVIRONMENTA 9.00 03/14/19 CNY 12.00
SHEYANG URBAN CONST 7.80 11/27/24 CNY 20.03
SHEYANG URBAN CONST 7.80 11/27/24 CNY 20.03
SHIFANG CITY NATION 8.00 12/05/25 CNY 41.09
SHIFANG CITY NATION 8.00 12/05/25 CNY 40.00
SHIYAN CITY CHENGTO 7.80 02/13/26 CNY 44.82
SHUANGYASHAN DADI C 8.50 12/16/26 CNY 63.53
SHUANGYASHAN DADI C 8.50 12/16/26 CNY 63.52
SHUANGYASHAN DADI C 8.50 08/26/26 CNY 42.77
SHUANGYASHAN DADI C 8.50 08/26/26 CNY 42.76
SHUANGYASHAN DADI C 8.50 04/30/26 CNY 42.08
SHUANGYASHAN DADI C 8.50 04/30/26 CNY 42.07
SHUOZHOU INVESTMENT 7.80 12/25/25 CNY 41.14
SHUOZHOU INVESTMENT 7.80 12/25/25 CNY 41.12
SHUOZHOU INVESTMENT 7.50 10/23/25 CNY 21.60
SHUOZHOU INVESTMENT 7.50 10/23/25 CNY 20.93
SICHUAN CHENG'A DEV 7.50 11/29/24 CNY 20.04
SICHUAN CHENG'A DEV 7.50 11/29/24 CNY 20.00
SICHUAN COAL INDUST 7.70 01/09/18 CNY 45.00
SICHUAN LANGUANG DE 7.50 07/23/22 CNY 42.00
SICHUAN LANGUANG DE 7.50 08/12/21 CNY 12.63
SICHUAN LANGUANG DE 7.50 07/11/21 CNY 12.63
SIYANG JIADING INDU 7.50 12/14/25 CNY 41.86
SIYANG JIADING INDU 7.50 12/14/25 CNY 41.00
SIYANG JIADING INDU 7.50 04/27/25 CNY 20.40
SIYANG JIADING INDU 7.50 04/27/25 CNY 20.40
TAHOE GROUP CO LTD 7.50 08/15/20 CNY 24.00
TAHOE GROUP CO LTD 8.50 08/02/21 CNY 2.37
TAHOE GROUP CO LTD 7.50 10/10/20 CNY 2.20
TAHOE GROUP CO LTD 7.50 09/19/21 CNY 2.17
TAIXING CITY CHENGX 7.60 04/24/26 CNY 41.78
TAIXING CITY CHENGX 7.60 04/04/26 CNY 41.69
TAIXING CITY CHENGX 7.80 03/05/26 CNY 41.49
TAIXING CITY CHENGX 7.60 04/24/26 CNY 40.00
TAIXING CITY CHENGX 7.60 04/04/26 CNY 40.00
TAIXING CITY CHENGX 7.80 03/05/26 CNY 40.00
TAIXING XINGHUANG I 8.50 11/15/25 CNY 40.82
TAIXING XINGHUANG I 8.50 11/15/25 CNY 39.59
TAIZHOU FENGCHENGHE 7.90 12/29/24 CNY 20.12
TAIZHOU FENGCHENGHE 7.90 12/29/24 CNY 20.00
TAIZHOU HUACHENG ME 8.50 12/26/25 CNY 41.36
TAIZHOU HUACHENG ME 8.50 12/26/25 CNY 40.00
TANCHENG COUNTY CIT 7.50 04/09/26 CNY 41.58
TANCHENG COUNTY CIT 7.50 04/09/26 CNY 40.00
TANGSHAN HOLDING DE 7.60 05/16/25 CNY 20.48
TANGSHAN HOLDING DE 7.60 05/16/25 CNY 20.35
TAOYUAN COUNTY CONS 8.00 10/17/26 CNY 42.83
TAOYUAN COUNTY CONS 7.50 09/11/26 CNY 42.42
TAOYUAN COUNTY CONS 8.00 10/17/26 CNY 40.00
TAOYUAN COUNTY CONS 7.50 09/11/26 CNY 40.00
TAOYUAN COUNTY ECON 8.20 09/06/25 CNY 21.25
TAOYUAN COUNTY ECON 8.20 09/06/25 CNY 20.86
TEMPUS GROUP CO LTD 7.50 06/07/20 CNY 2.00
TENGCHONG SHIXINGBA 7.50 05/05/26 CNY 51.56
TIANJIN REAL ESTATE 7.70 03/16/21 CNY 21.49
TONGCHENG CITY CONS 7.50 07/23/25 CNY 20.64
TONGCHENG CITY CONS 7.50 07/23/25 CNY 20.00
TONGHUA FENGYUAN IN 7.80 04/30/26 CNY 41.70
TONGHUA FENGYUAN IN 8.00 12/18/25 CNY 41.17
TONGHUA FENGYUAN IN 7.80 04/30/26 CNY 41.16
TONGHUA FENGYUAN IN 8.00 12/18/25 CNY 40.00
TONGREN WATER GROUP 8.00 11/29/28 CNY 73.50
TONGXIANG CHONGDE I 7.88 11/29/25 CNY 41.70
TONGXIANG CHONGDE I 7.88 11/29/25 CNY 41.10
TUNGHSU GROUP CO LT 8.18 10/25/21 CNY 22.00
WEIHAI LANCHUANG CO 7.70 10/11/25 CNY 20.90
WEIHAI LANCHUANG CO 7.70 10/11/25 CNY 20.82
WEIHAI WENDENG URBA 7.50 03/04/29 CNY 73.00
WEIHAI WENDENG URBA 7.70 05/02/28 CNY 64.19
WEIHAI WENDENG URBA 7.70 05/02/28 CNY 62.50
WEINAN CITY INDUSTR 7.50 06/30/27 CNY 63.67
WEINAN CITY INDUSTR 7.50 06/30/27 CNY 60.00
WEINAN CITY INDUSTR 7.50 04/28/26 CNY 41.63
WEINAN CITY INDUSTR 7.50 04/28/26 CNY 40.00
WINTIME ENERGY GROU 7.50 04/04/21 CNY 43.63
WINTIME ENERGY GROU 7.90 03/29/21 CNY 43.63
WINTIME ENERGY GROU 7.90 12/22/20 CNY 43.63
WINTIME ENERGY GROU 7.50 12/06/20 CNY 43.63
WINTIME ENERGY GROU 7.50 11/16/20 CNY 43.63
WINTIME ENERGY GROU 7.70 11/15/20 CNY 43.63
WUSU CITY XINGRONG 7.50 10/25/25 CNY 20.82
WUSU CITY XINGRONG 7.50 10/25/25 CNY 20.00
WUXUE URBAN CONSTRU 7.50 04/12/26 CNY 41.46
WUXUE URBAN CONSTRU 7.50 04/12/26 CNY 40.00
WUZHOU CANGHAI CONS 8.00 05/31/28 CNY 64.79
WUZHOU CITY CONSTRU 7.90 03/26/29 CNY 73.20
XIAN LINTONG URBAN 7.69 04/22/26 CNY 41.73
XIAN LINTONG URBAN 7.69 04/22/26 CNY 40.00
XIFENG COUNTY URBAN 8.00 03/14/26 CNY 41.29
XINFENG COUNTY URBA 7.80 04/16/26 CNY 41.88
XINFENG COUNTY URBA 7.80 04/16/26 CNY 41.81
XINFENG COUNTY URBA 7.80 12/05/25 CNY 41.14
XINFENG COUNTY URBA 7.80 12/05/25 CNY 40.00
XINGYI XINHENG URBA 8.00 11/21/25 CNY 40.90
XINGYI XINHENG URBA 8.00 11/21/25 CNY 40.61
XINGYI XINHENG URBA 7.90 01/31/25 CNY 20.11
XINGYI XINHENG URBA 7.90 01/31/25 CNY 20.00
XINPING URBAN DEVEL 7.70 01/24/26 CNY 41.30
XINYU CITY YUSHUI D 7.50 09/24/26 CNY 42.49
XIPING COUNTY INDUS 7.50 12/26/24 CNY 20.11
XIPING COUNTY INDUS 7.50 12/26/24 CNY 20.00
XUZHOU CITY JIAWANG 7.98 05/06/26 CNY 41.92
XUZHOU CITY JIAWANG 7.88 01/28/26 CNY 40.58
XUZHOU CITY JIAWANG 7.98 05/06/26 CNY 40.50
XUZHOU CITY JIAWANG 7.88 01/28/26 CNY 40.45
YANCHENG URBANIZATI 7.50 03/04/27 CNY 63.65
YANGLING URBAN RURA 7.80 06/19/26 CNY 42.11
YANGLING URBAN RURA 7.80 02/20/26 CNY 41.46
YANGLING URBAN RURA 7.80 06/19/26 CNY 40.00
YANGLING URBAN RURA 7.80 02/20/26 CNY 40.00
YIBIN NANXI CAIYUAN 8.10 11/28/25 CNY 41.19
YIBIN NANXI CAIYUAN 8.10 11/28/25 CNY 41.10
YIBIN NANXI CAIYUAN 8.10 07/24/25 CNY 20.58
YIBIN NANXI CAIYUAN 8.10 07/24/25 CNY 20.00
YICHANG CHUANGYUAN 7.80 11/06/25 CNY 20.96
YINGKOU BEIHAI NEW 7.98 01/25/25 CNY 20.21
YINGKOU BEIHAI NEW 7.98 01/25/25 CNY 20.21
YINGTAN JUNENG INVE 8.00 05/06/26 CNY 41.99
YINGTAN JUNENG INVE 8.00 05/06/26 CNY 40.00
YIYANG COUNTY CITY 7.90 11/05/25 CNY 40.96
YIYANG COUNTY CITY 7.90 11/05/25 CNY 22.01
YIYANG COUNTY CITY 7.50 06/07/25 CNY 20.50
YIYANG COUNTY CITY 7.50 06/07/25 CNY 20.00
YIYANG LONGLING CON 7.60 01/23/26 CNY 41.14
YIYANG LONGLING CON 7.60 01/23/26 CNY 40.30
YIYUAN HONGDING ASS 7.50 08/17/25 CNY 21.15
YIYUAN HONGDING ASS 7.50 08/17/25 CNY 20.67
YONGAN STATE-OWNED 8.50 11/26/25 CNY 41.15
YONGAN STATE-OWNED 8.50 11/26/25 CNY 40.00
YONGCHENG COAL & EL 7.50 02/02/21 CNY 39.88
YONGXIU CITY CONSTR 7.80 08/27/25 CNY 20.60
YONGXIU CITY CONSTR 7.50 05/02/25 CNY 20.32
YONGXIU CITY CONSTR 7.80 08/27/25 CNY 20.00
YONGXIU CITY CONSTR 7.50 05/02/25 CNY 20.00
YOUYANG COUNTY TAOH 7.50 09/28/25 CNY 20.79
YUANJIANG CITY CONS 7.50 01/18/26 CNY 41.23
YUANJIANG CITY CONS 7.50 01/18/26 CNY 41.22
YUDU ZHENXING INVES 7.50 05/03/25 CNY 20.49
YUDU ZHENXING INVES 7.50 05/03/25 CNY 20.41
YUEYANG CITY JUNSHA 7.96 03/13/27 CNY 63.92
YUEYANG CITY JUNSHA 7.96 03/13/27 CNY 60.51
YUEYANG CITY JUNSHA 7.96 04/23/26 CNY 41.77
YUEYANG CITY JUNSHA 7.96 04/23/26 CNY 40.00
YUEYANG HUILIN INVE 7.50 12/23/26 CNY 62.85
YUEYANG HUILIN INVE 7.50 12/23/26 CNY 60.00
YUSHEN ENERGY DEVEL 7.50 05/07/27 CNY 63.90
YUSHEN ENERGY DEVEL 7.50 05/07/27 CNY 60.00
YUTAI XINDA ECONOMI 7.50 04/10/26 CNY 41.58
ZHANGJIAJIE LOULI T 7.50 03/26/26 CNY 41.56
ZHANGJIAJIE LOULI T 7.50 03/26/26 CNY 41.55
ZHANGZI NATIONAL OW 7.50 10/18/26 CNY 42.52
ZHANGZI NATIONAL OW 7.50 10/18/26 CNY 40.00
ZHEJIANG CHANGXING 7.50 05/16/26 CNY 41.74
ZHEJIANG CHANGXING 7.50 05/16/26 CNY 41.60
ZHEJIANG CHANGXING 7.50 12/26/25 CNY 41.11
ZHEJIANG CHANGXING 7.50 12/26/25 CNY 40.00
ZHEJIANG HUZHOU NAN 7.80 08/21/25 CNY 19.91
ZHEJIANG WUYI CITY 8.00 12/21/25 CNY 41.23
ZHEJIANG WUYI CITY 8.00 12/21/25 CNY 41.23
ZHEJIANG WUYI CITY 8.00 08/10/25 CNY 20.81
ZHEJIANG WUYI CITY 8.00 08/10/25 CNY 20.00
ZHONGHONG HOLDING C 8.00 07/04/19 CNY 2.75
ZHONGTIAN FINANCIAL 8.50 08/16/27 CNY 31.04
ZHONGXIANG CITY CON 7.50 07/05/26 CNY 42.12
ZHONGXIANG CITY CON 7.50 07/05/26 CNY 40.00
ZHOUSHAN ISLANDS NE 7.50 01/30/27 CNY 58.95
ZHOUSHAN ISLANDS NE 7.50 01/30/27 CNY 55.00
ZHUZHOU HI-TECH AUT 8.00 08/14/25 CNY 25.94
ZIGUI COUNTY CHUYUA 7.80 02/12/28 CNY 64.24
ZIGUI COUNTY CHUYUA 7.80 02/12/28 CNY 60.00
ZIYANG KAILI INVEST 8.00 02/14/26 CNY 41.30
ZUNYI ROAD & BRIDGE 8.00 05/08/29 CNY 70.83
ZUNYI TRAFFIC TRAVE 7.80 03/07/29 CNY 74.66
HONG KONG
---------
CHINA SOUTH CITY HO 9.00 04/12/24 USD 28.83
CHINA SOUTH CITY HO 9.00 06/26/24 USD 28.25
CHINA SOUTH CITY HO 9.00 12/11/24 USD 27.89
CHINA SOUTH CITY HO 9.00 10/09/24 USD 27.88
HAINAN AIRLINES HON 12.00 10/29/21 USD 1.92
HONGKONG IDEAL INVE 14.75 10/08/22 USD 2.60
YANGO JUSTICE INTER 10.25 09/15/22 USD 0.40
YANGO JUSTICE INTER 7.50 04/15/24 USD 0.39
YANGO JUSTICE INTER 9.25 04/15/23 USD 0.22
YANGO JUSTICE INTER 7.50 02/17/25 USD 0.16
YANGO JUSTICE INTER 8.25 11/25/23 USD 0.15
YANGO JUSTICE INTER 7.88 09/04/24 USD 0.13
YANGO JUSTICE INTER 10.00 02/12/23 USD 0.12
YANGO JUSTICE INTER 10.25 03/18/22 USD 0.01
ZENSUN ENTERPRISES 12.50 04/23/24 USD 5.38
ZENSUN ENTERPRISES 12.50 09/13/23 USD 5.25
INDONESIA
---------
WIJAYA KARYA PERSER 9.10 03/03/26 IDR 74.57
WIJAYA KARYA PERSER 9.10 03/03/26 IDR 74.33
WIJAYA KARYA PERSER 8.50 03/03/26 IDR 73.91
WIJAYA KARYA PERSER 8.50 03/03/26 IDR 73.91
WIJAYA KARYA PERSER 8.55 09/08/26 IDR 68.44
WIJAYA KARYA PERSER 8.55 09/08/26 IDR 68.21
WIJAYA KARYA PERSER 10.50 11/03/27 IDR 65.31
WIJAYA KARYA PERSER 10.50 11/03/27 IDR 65.31
WIJAYA KARYA PERSER 10.90 11/03/29 IDR 64.92
WIJAYA KARYA PERSER 10.90 11/03/29 IDR 64.92
WIJAYA KARYA PERSER 7.75 02/18/27 IDR 63.84
WIJAYA KARYA PERSER 7.75 02/18/27 IDR 63.52
WIJAYA KARYA PERSER 9.75 03/03/28 IDR 63.03
WIJAYA KARYA PERSER 9.85 12/18/27 IDR 62.93
WIJAYA KARYA PERSER 9.75 03/03/28 IDR 62.87
WIJAYA KARYA PERSER 9.85 12/18/27 IDR 62.64
WIJAYA KARYA PERSER 9.25 09/08/28 IDR 60.80
WIJAYA KARYA PERSER 9.25 09/08/28 IDR 60.75
WIJAYA KARYA PERSER 8.30 02/18/29 IDR 58.02
WIJAYA KARYA PERSER 8.30 02/18/29 IDR 57.97
WIJAYA KARYA PERSER 8.60 12/18/25 IDR 55.84
INDIA
-----
BHARAT SANCHAR NIGA 7.55 03/20/34 INR 63.39
IIFL SAMASTA FINANC 10.75 02/24/25 INR 30.86
IKF FINANCE LTD 10.60 03/27/25 INR 25.04
IKF HOME FINANCE LT 10.85 08/31/26 INR 74.73
MAHANAGAR TELEPHONE 7.51 03/06/34 INR 51.29
PIRAMAL CAPITAL & H 8.50 04/18/23 INR 34.25
MALAYSIA
--------
CAPITAL A BHD 8.00 12/29/28 MYR 0.96
PHILIPPINES
-----------
BAYAN TELECOMMUNICA 15.00 07/15/06 USD 15.00
BAYAN TELECOMMUNICA 15.00 07/15/06 USD 15.00
SINGAPORE
---------
BAKRIE TELECOM PTE 11.50 05/07/15 USD 0.59
BLD INVESTMENTS PTE 8.63 03/23/15 USD 6.75
DAVOMAS INTERNATION 11.00 05/09/11 USD 0.33
DAVOMAS INTERNATION 11.00 05/09/11 USD 0.33
DAVOMAS INTERNATION 11.00 12/08/14 USD 0.33
DAVOMAS INTERNATION 11.00 12/08/14 USD 0.33
ENERCOAL RESOURCES 9.25 08/05/14 USD 45.75
ITNL OFFSHORE PTE L 7.50 01/18/21 CNY 22.30
MICLYN EXPRESS OFFS 8.75 11/25/18 USD 0.76
NOMURA INTERNATIONA 19.50 08/28/28 TRY 64.85
NOMURA INTERNATIONA 7.65 10/04/37 AUD 64.33
ORO NEGRO DRILLING 7.50 01/24/24 USD 0.50
RICKMERS MARITIME 8.45 05/15/17 SGD 5.00
SWIBER HOLDINGS LTD 7.75 09/18/17 CNY 6.13
SOUTH KOREA
-----------
KOSME SCALE-UP SECU 24.00 12/30/24 KRW 73.64
KOSME SCALE-UP SECU 20.00 12/29/25 KRW 70.05
SAMPYO CEMENT CO LT 8.10 06/26/15 KRW 70.00
SAMPYO CEMENT CO LT 8.10 04/12/15 KRW 70.00
SAMPYO CEMENT CO LT 8.30 09/10/14 KRW 70.00
SAMPYO CEMENT CO LT 7.50 07/20/14 KRW 70.00
SAMPYO CEMENT CO LT 8.30 04/20/14 KRW 70.00
KOSME SCALE-UP SECU 20.00 03/30/25 KRW 68.15
KOSME SCALE-UP SECU 20.00 03/30/25 KRW 68.15
SRI LANKA
---------
SRI LANKA GOVERNMEN 12.40 05/15/31 LKR 72.61
SRI LANKA GOVERNMEN 12.40 06/15/32 LKR 69.54
SRI LANKA GOVERNMEN 7.50 01/15/33 LKR 66.55
SRI LANKA GOVERNMEN 7.50 02/15/34 LKR 63.79
SRI LANKA GOVERNMEN 7.50 03/15/35 LKR 61.46
SRI LANKA GOVERNMEN 7.50 04/15/36 LKR 59.49
SRI LANKA GOVERNMEN 12.40 05/15/37 LKR 57.86
SRI LANKA GOVERNMEN 12.40 06/15/38 LKR 56.81
SRI LANKA GOVERNMEN 7.85 03/14/29 USD 62.57
SRI LANKA GOVERNMEN 7.85 03/14/29 USD 62.56
SRI LANKA GOVERNMEN 7.55 03/28/30 USD 62.05
SRI LANKA GOVERNMEN 7.55 03/28/30 USD 62.02
*********
S U B S C R I P T I O N I N F O R M A T I O N
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