Indian retail payment ecosystem (banks, payment service providers, UPI app operators)

Restructuring · Asia

Chinese power generator Huachen Energy told bondholders it faces difficulties repaying $956 million in bonds due in December, raising the risk of a fresh default.

Restructuring · Asia

Louis Vuitton has closed five stores in mainland China over the past two years, including a chocolate boutique in Shanghai, amid a shift of luxury demand toward pre-owned goods.

Restructuring · Asia

Parisian department store Galeries Lafayette shut its Beijing flagship store in May, signalling retrenchment in China's department-store segment.

Restructuring · Asia

Foreign banks including Deutsche Bank (China) are trimming China branch networks as low returns test their strategy; Deutsche Bank (China) announced a closure and other foreign banks continue closing branches and sub-branches, shifting toward digitalisation, wealth management and core clients.

Restructuring · Asia

Pantech Global's subsidiary Pantech Steel Industries Sdn Bhd agreed to sell freehold land in Klang, Selangor (about 435,874 sq ft) to Veltrix Land Sdn Bhd for RM31.73 million, after dropping its plan to build Klang Factory 2. Completion is expected by Q1 2027.

Restructuring · Asia

Singapore fitness chains True Yoga and True Fitness suddenly closed all outlets and are in liquidation, with around 3,300 creditor claims received.