Financial Times, 20 Oct 2008, John Burton
A suspension in share trading of two Singapore-listed Chinese companies due to debt servicing problems has undermined investor confidence in the China-related sector that has been a driving force behind the Singapore Exchange’s recent growth.
The trading halts were in response to a disclosure by FerroChina, a steel-coil maker, that it was unable to repay short-term loans and reports that the owners of China Printing & Dying Holdings had gone into hiding due to financial troubles.
Analysts say the debt problems of FerroChina and China Printing suggest bankruptcy threats in China could be more widespread than has been officially admitted.
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