Country Garden creditor writes off loans as winding-up case continues

Kingboard Holdings' gains on AI and EV booms diluted by mainland developer's woes

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Property developer Country Garden's logo on a building in Dalian, China, in 2017.  © Reuters

PEGGY YE and KENJI KAWASE

HONG KONG -- Kingboard Holdings, a Hong Kong-listed maker of laminates used for building materials and high-tech products, said it has fully written off loans it made to distressed Chinese property developer Country Garden Holdings.

The loans are the core basis of a winding-up petition the group lodged against Country Garden in February 2024.

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