I first wrote a post on the above on Nov 17 2015. Recently, MPM has started a process to seek consent from noteholders to rescheduled $50m worth of notes due Oct 2016 for another three years.
It looks like my observation is quite prescient. The risk of MPM entering judicial management or even liquidation has heightens.
Wednesday, September 21, 2016
Monday, September 5, 2016
CDL - Diversifying from Brick-&-Mortar World
City Developments Limited (CDL) will invest RMB 100 million ($20.4 million) for a 20% stake in mamahome, a fast-growing Chinese online apartment rental platform. After CDL’s investment, mamahome will be owned jointly by the founder Shanghai Chongfu (56%), E-House Capital (24%) and CDL China (20%).
mamahome is a one-stop solution for both apartment owners and rental customers. It provides an online booking website, online management software, and other value-added services including housekeeping, renovation, 24-hour concierge and call centre. In addition, mamahome also provides management for its own brands of serviced apartments — Suisse Place, Locca and Login.
Currently, there are more than 100,000 apartment listings on mamahome across 20 cities in China. Over 75% of the apartments are located in key gateway cities – Shanghai, Beijing and Guangzhou.
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