Property developer Kaisa delays 2014 results announcement

Trouble mainland developer Kaisa Group Holdings (1638.HKG) delayed its results report for 2014, saying there could be a “significant adjustment” to its unaudited accounts, Bloomberg reported, citing a stock exchange filing. The company, currently in talks with offshore investors to restructure its debt so that Sunac China Holdings (1918.HKG) will complete acquisition, must pay interest on dollar bonds within a 30-day grace period in April or it will become China’s first real estate firm to default on US currency securities.