"Evergrande, the world's single most indebted property developer, had its chairman Hui Ka Yan placed under police watch this week as funding and liquidity concerns grip China's real estate sector. "
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"On Thursday, Reuters reported that China's Evergrande Group Chairman Hui Ka Yan had been placed under police watch, raising fears about the cash-strapped developer's future amid mounting liquidation risk. "
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" Trading in China Evergrande Group shares was halted on Thursday after a report that its Chairman Hui Ka Yan had been placed under police watch, raising fears about the cash-strapped developer's future amid mounting liquidation risk. "
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"China Evergrande Group Chairman Hui Ka Yan will face a fresh test of his status in the Communist Party as a top government advisory body that counts the billionaire as a member is having its annual convention next week."
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"When China Evergrande Group Chairman Hui Ka Yan showed up at the Communist Party's 100th anniversary celebration in July, investors saw it as a sign the government still had the embattled property tycoon's back."
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"Evergrande has struggled to make progress on asset sales to raise cash, even after founder Hui Ka Yan put stakes in once-prized assets such as his electric-vehicle and bottled-water businesses on sale. "
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"As long as we do a good job in restarting work, production and construction, we'll be able to deliver houses to buyers, resume sales and operations and pay off debts at all costs," the statement cited Chairman Hui Ka Yan as saying at a company meeting."
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"Evergrande must "sprint at full speed" to meet the target of delivering 39,000 units of apartments in December, chairman Hui Ka Yan said in a meeting held Sunday night, according to a company statement."
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"Evergrande must "sprint at full speed" to meet the target of delivering 39,000 units of apartments in December, chairman Hui Ka Yan says in a meeting held Sunday night, according to a company statement."
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"As members of the so-called Poker Club for real estate tycoons, Lau and Evergrande Chairman Hui Ka Yan have a long history of business connections. "
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"Founder Hui Ka Yan has seen his wealth plunge by $17.2 billion this year as the group's shares and bonds tumbled. "
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"China Evergrande Group founder Hui Ka Yan's wealth alone has plunged by $17.2 billion, one of the biggest slumps for 2021."
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"China Evergrande Group founder Hui Ka Yan was smiling as he attended the celebration of the Communist Party's 100-year anniversary in Beijing back in July. "
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"The sale of 277.8 million shares sold last Monday to Thursday was due to forced selling by a third party with whom billionaire Hui Ka Yan pledged the shares. "
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"Chairman Hui Ka Yan was forced to sell pledged shares in the company, cutting his stake to less than 60%. "
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"Hui Ka Yan was once China's second-richest person, worth $42 billion at his peak in 2017."
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"China Evergrande Group Chairman Hui Ka Yan was forced to sell pledged shares in the company, according to disclosures that came a day after the developer was officially labeled a defaulter for the first time."
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"While that's likely to help prevent nightmare scenarios of an uncontrolled Evergrande collapse, authorities have made it clear they have no intention of bailing out the property empire started by billionaire Hui Ka Yan 25 years ago. "
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"The government of Guangdong, the southern province where Evergrande is based, summoned founder Hui Ka Yan to express concern over the company's Friday announcement and said it would dispatch a team to the developer to ensure "normal" operations."
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"The government of Guangdong, the southern province where Evergrande is based, summoned founder Hui Ka Yan to express concern over the company's announcement and said it would dispatch a team to the developer to ensure "normal" operations. "
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"Chairman Hui Ka Yan raised about $344 million selling shares in the company last week."
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"China Evergrande Group Chairman Hui Ka Yan sold 1.2 billion Evergrande shares for the equivalent of $344 million, according to a filing to the Hong Kong Stock Exchange. "
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"China Evergrande Group's billionaire Chairman Hui Ka Yan offloaded a chunk of his holdings for HK$2.68 billion ($344 million), a sign that he is continuing to dip into his own pocket to save the debt-stricken property giant."
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"Trading in Evergrande and related companies has been particularly active this week for no obvious reason, spurring speculation that founder Hui Ka Yan may tap the stock market for funds. "
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"Chinese Estates and Chan spent years helping Hui Ka Yan raise cash for his empire and at one point had an Evergrande stake of almost 9%. "
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"Hong Kong clearing data showed founder Hui Ka Yan may have pledged a stake worth $1 billion in Evergrande last week."
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"China Evergrande Group shares worth nearly $1 billion appeared in Hong Kong's Central Clearing and Settlement System on Friday, a sign that founder Hui Ka Yan may be pledging part of his stake as collateral for loans."
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"China Evergrande Group's 8.25% dollar bond due next year has rebounded to around 30 cents on the dollar from a record low of 22.7 cents a month earlier, after its Chairman Hui Ka Yan raised funds by disposing of personal assets and pledging shares. "
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"China Evergrande Group Chairman Hui Ka Yan has reportedly injected more than 7 billion yuan ($1.1 billion) in cash to boost the firm's liquidity, as investor focus turns to efforts by another Chinese developer to delay upcoming payments."
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"Authorities in Beijing have urged founder Hui Ka Yan to help repay Evergrande's obligations with his personal wealth."
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"Meanwhile, with Chinese authorities urging Evergrande's billionaire founder Hui Ka Yan to use his own money to alleviate the company's debt crisis, his personal balance sheet has attracted attention from bond investors."
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"Meanwhile, authorities are urging China Evergrande Group's founder Hui Ka Yan to use his own money to alleviate the firm's debt crisis."
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"It's been a tough year for Lau, a poker buddy of China Evergrande Group founder Hui Ka Yan and one of his biggest financial backers. "
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"Authorities have told Evergrande's billionaire founder Hui Ka Yan to use his personal wealth to alleviate the property giant's debt woes. "
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"Authorities in Beijing have urged founder Hui Ka Yan to help repay Evergrande's obligations with his personal wealth, but his known fortune represents just a fraction of the company's more than $300 billion in liabilities."
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"China has this week urged developers to make payments on their offshore bonds, and asked Evergrande's billionaire founder Hui Ka Yan to tap his personal wealth to help solve the company's deepening debt crisis."
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"The country's authorities told billionaire Evergrande founder Hui Ka Yan to use his personal wealth to alleviate the company's deepening debt crisis, though it's unclear whether Hui's fortune is big and liquid enough to make a meaningful impact, people with knowledge of the matter told Bloomberg this week. "
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"Chinese authorities asked Evergrande Group's founder Hui Ka Yan to use his personal wealth to pay off the firm's debt. "
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"China has urged companies to make payments on their offshore bonds, and asked China Evergrande Group's billionaire founder Hui Ka Yan to tap his personal wealth to help solve the company's deepening debt crisis."
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"Chinese authorities told billionaire Hui Ka Yan to use his personal wealth to alleviate Evergrande's deepening debt crisis, according to people familiar with the matter."
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"In China, authorities told billionaire Hui Ka Yan to use his personal wealth to alleviate China Evergrande Group's deepening debt crisis. "
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"Chinese authorities meanwhile have told Evergrande's billionaire founder Hui Ka Yan to use his personal wealth to alleviate the firm's deepening debt crisis, according to people familiar with the matter."
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"The Securities Times reported Friday that Evergrande Chairman Hui Ka Yan said he plans to scale down real-estate operations to focus on new energy vehicles."
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"While Evergrande's billionaire founder Hui Ka Yan was born into poverty in Henan province, Baobao's privileged background is a vulnerable flank. "
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"Its billionaire owner Hui Ka Yan has his fingers in pies from electric vehicles and media production to mineral water and soccer."
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"The Lau family going private represents the biggest retreat yet by a long-time backer of Evergrande and its billionaire Chairman Hui Ka Yan -- Lau is part of the so-called 'Poker Club' of tycoons who have backed Hui's ventures over the years."
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"The deal was part of a multi-billion-dollar acquisition spree by Evergrande founder Hui Ka Yan as he embarked on an ambitious push to overtake Elon Musk's Tesla Inc. as the world's biggest EV maker -- a goal that is looking increasingly unreachable as he struggles to rescue his debt-laden empire."
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"The transaction also underscores the mounting pressure on billionaire Hui Ka Yan to spin off and sell assets to pay down a mountain of debt. "
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"For years, Chinese real-estate tycoon Hui Ka Yan could count on a set of deep pockets whenever trouble struck: his poker friends."
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"Evergrande's billionaire Chairman Hui Ka Yan meanwhile told staff last week that buyers of its investment products will be repaid, the company said."
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"Founding Chairman Hui Ka Yan has repeatedly emphasized the importance of completing housing projects. "
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"''Evergrande Chairman Hui Ka Yan urged his executives late on Wednesday to ensure the delivery of quality properties and the redemption of its wealth management products, which are typically held by millions of retail investors in China,'' Reuters reported."
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"Founder Hui Ka Yan has relied onpowerful tycoon friends in the financial center and, over the years, they have short squeezed naysayers, helped Huiraise billions of dollars in equity financing, and even solidified his control ofa regional Chinese bank, which happens to be listed in Hong Kong. "
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"While some of the notes are likely owned by billionaire founder Hui Ka Yan and his associates, holders also include global investment firms that might be less willing to go along with opaque payment arrangements."
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"Evergrande Chairman Hui Ka Yan sounds optimistic over the future performance and underpins over 10% upside of the stock on the Hong Kong Stock Exchange. "
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"The exit by long-time supporters of Evergrande founder Hui Ka Yan is another sign that the company has lost the confidence of investors as it struggles to make good on its $300 billion in liabilities."
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"In a memo to employees on Tuesday, which is the Mid-Autumn Festival and a holiday in mainland China, Evergrande Chairman Hui Ka Yan said the company is dealing with unprecedented difficulties and its employees are facing severe challenges."
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"Having offered a pessimistic start to the week, Evergrande Chairman Hui Ka Yan tried to defend the bulls while saying, per Reuters, "Confident the company will 'walk out of darkest moment'." The same highlights the Chinese government's action to save the real-estate player, which in turn highlights Wednesday's People's Bank of China (PBOC) monetary policy meeting."
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"Evergrande founder and Chairman Hui Ka Yan continued his precipitous drop in Bloomberg's wealth ranking as the company's shares fell to their lowest in a decade. "
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"While China's top financial regulator has urged billionaire Evergrande founder Hui Ka Yan to solve his company's debt problems, authorities have yet to spell out whether the government would allow a major debt restructuring or bankruptcy."
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"The sale marks at least the second time in a month that Chan -- whose tycoon husband has been a long-term ally of Evergrande founder Hui Ka Yan -- has cut her stake in the world's most indebted developer."
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"Chairman Hui Ka Yan controls more than 70% of Evergrande's equity and the company's stock buybacks have mopped up liquidity in the past. "
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"China Evergrande Group Chairman Hui Ka Yan said the company will ensure full and early repayment of all maturing wealth management products, Radio Television Hong Kong reported, citing a company press release."
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"After a rare public rebuke from regulators, Evergrande's billionaire founder Hui Ka Yan doubled down on his commitment to complete projects, issuing what he called a "military order" to ensure property construction and delivery."
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"In an effort to soothe home buyers, Evergrande on Wednesday pledged to deliver on its housing projects, with billionaire Hui Ka Yan describing the directive as a "military order."
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"In an effort to soothe customers, Evergrande pledged on Wednesday to deliver on its housing projects, with billionaire founder Hui Ka Yan describing the directive as a "military order."
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"A long-time supporter of China Evergrande Group's Hui Ka Yan cut her stake in the developer for the first time since she started accumulating them four years ago."
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"The result underscores the challenge for billionaire founder Hui Ka Yan to reduce the group's debt while also sustaining profitability, as it resorts to asset sales and price discounts to raise cash. "
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"More than two years have now passed since Evergrande's billionaire Chairman Hui Ka Yan pledged to overtake Elon Musk's Tesla Inc. as the world's biggest EV maker within three to five years. "
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"The clock is ticking for billionaire Hui Ka Yan and his company, which is laden with $300 billion in liabilities to banks, suppliers and homebuyers. "
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"At a meeting in Beijing in June, officials at the Financial Stability and Development Committee asked billionaire founder Hui Ka Yan to consider bringing in strategic investors to stabilize the property giant, emphasizing the need to avoid major shocks to the economy, according to a person familiar with the matter."
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"The stock's sell-off deepened this week after billionaire founder Hui Ka Yan stepped down as chairman of the conglomerate's main onshore real estate unit."
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"The deal underscores the mounting pressure on billionaire Hui Ka Yan to spin off and sell assets to pay down a mountain of debt. "
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"Thenation's second-largest real estate developer hasbeen in talks to sell equity stakes tothird-parties;and its billionaire founder Hui Ka Yan has stepped down as chairman of Hengda Real Estate, its main asset in the mainland, according to National Enterprise Credit Information Publicity System, a website that maintains thepublic records of local companies."
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"Chinese real-estate billionaire Hui Ka Yan has stepped down as chairman of China Evergrande Group 's flagship property business, months after the unit dropped plans for a multibillion-dollar listing on the mainland."
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"China Evergrande Group founder Hui Ka Yan has stepped down as chairman of the conglomerate's onshore property unit."
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"Billionaire founder Hui Ka Yan has over the years developed substantial economic interests offshoreand so his company'sbonds are worth something to overseas investors if things go wrong. "
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"Pressure has been mounting on Evergrande founder Hui Ka Yan to reassure markets that his company has the ability to make good on its $301 billion pile of liabilities. "
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"In turbulent times, billionaire founder Hui Ka Yan would turn to histycoon friends topropup his stocks and bonds. "
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"Chinese government officials have asked billionaire founder Hui Ka Yan to resolve the developer's debt issues as quickly as possible. "
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"The networking skills of China Evergrande Group's billionaire founder Hui Ka Yan are breathtaking. "
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"Founder Hui Ka Yan met last month with officials from the country's top financial regulator, who urged him to solve Evergrande's cashflow problems as quickly as possible."
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"Founder Hui Ka Yan was called in to meet regulators last month, urging him to solve the debt problems as quickly as possible, emphasizing the need to avoid major shocks to the economy, people familiar said."
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"China Evergrande Group Chairman Hui Ka Yan has been among the biggest casualties of the campaign this year, losing $6.7 billion, or nearly 30%, of his fortune as Evergrande's stock tumbled on concerns the company faces a liquidity crunch."
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"When China Evergrande Group founder Hui Ka Yan appeared at the Communist Party's 100th anniversary celebration in Tiananmen Square on July 1, investors cheered at the implication that the embattled property tycoon still enjoyed favor in Beijing."
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"The decision, which helped his friend and Evergrande chairman Hui Ka Yan save his own company, increased pressure on the retailer's cash flow."
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"A photo of China Evergrande Group founder Hui Ka Yan attending Communist Party celebrations hosted by the country's ruling elite is lifting the embattled developer's bonds, a day after the company was downgraded for the second time."
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"Billionaire Hui Ka Yan is discovering how hard it is to kick one of the world's biggest debt habits."
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"Evergrande's founder Hui Ka Yan has repeatedly tapped deep-pocketed friends and supporters to raise funding to fend off its liquidity crisis."
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"The decision, which helped his friend and Evergrande chairman Hui Ka Yan save his own company, made little financial sense to investors at the time -- especially given the group was significantly weakened by slowdown in spending during the pandemic. "
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"Chairman Hui Ka Yan owns almost 77% of the outstanding stock through companies controlled either by him or his wife, according to the company's 2020 annual report."
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"Just eight months after celebrating a narrow escape from financial disaster, Chinese billionaire Hui Ka Yan finds himself back in crisis-fighting mode."
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"Billionaire chairman Hui Ka Yan will need his tycoon friends to come to hisaid again if the market gets too nervous. "
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"Last week, Evergrande Chairman Hui Ka Yan promised to get on the good side of one of the government's three red lines for property-developer leverage by the end of the month, doubling down on plans in the company's last annual report."
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"But on an earnings webcast late Wednesday, Evergrande's billionaire chairman Hui Ka Yan said trial runs will now begin around the end of the year. "
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"China Evergrande Group reported its second consecutive drop in annual profit, months after billionaire founder Hui Ka Yan narrowly navigated a liquidity scare."
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"Evergrande NEV has bold plans to take on Tesla Inc., with its billionaire shareholder Hui Ka Yan declaring back in March 2019 that he can be the biggest EV manufacturer in the world within three to five years. "
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"He thanked Evergrande's Chairman Hui Ka Yan in a post on his social media account Friday."
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"Five months after billionaire Hui Ka Yan navigated a liquidity scare at his China Evergrande Group, investors are about to get a fresh read on the financial health of the conglomerate."
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"Chinese billionaire Hui Ka Yan has moved beyond his poker pals to finance expansion at his debt-laden empire."
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"When liquidity is tight, it pays to have Hui Ka Yan's network of wealthy friends," said Brock Silvers, Hong Kong-based chief investment officer of Kaiyuan Capital. "
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"Last week, Evergrande said it aimed to reach 750 billion yuan of contract sales in 2021 -- 50 billion yuan lower than the target set by Chairman Hui Ka Yan about three years ago."
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"Hui Ka Yan built China Evergrande Group with support from a tight-knit group of fellow real estate billionaires with a fondness for poker."
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"China Evergrande Group broke with precedent this week by excluding friends of billionaire founder Hui Ka Yan from a closely watched share sale, a strategy that was designed to bolster investor confidence in the embattled developer but may have instead had the opposite effect."
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"Billionaire founder Hui Ka Yan owns more than 70% of Evergrande's outstanding stock, according to exchange data compiled by Bloomberg."
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