HONG KONG -- Modern Land China has become the latest developer from Asia's largest economy to miss a dollar bond payment, underscoring the stress spreading across the sector.
The company failed to pay interest and principal due on a $250 million bond, according to a filing on Tuesday with the Singapore stock exchange, where the bond is listed. The company said it is working with its legal counsel Sidley Austin and expects to engage financial advisors soon to help it through the crisis.
