CelcomDigi records strong financial performance and solid first year of integration

Integration & synergy targets met, network modernisation efforts ahead of schedule 
Service revenue rose 0.4% Y-Y, with 4Q FY2023 revenue up 0.9% across core segments

CelcomDigi Bhd (CelcomDigi) has announced its fourth quarter and full year results for the financial year 2023 marking a solid first year of operations as a merged company. In…Continue Reading

Australia: Severe weather batters state of Victoria

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Nearly half a million homes were left without power in the Australian state of Victoria after a storm knocked out parts of the network.

Videos posted online showed torrential rain and gale-force winds uprooting trees and blowing entire sheds away.

One dairy farmer was killed – authorities suspect he was struck by flying debris while on a tractor.

The wild weather also hampered efforts to fight massive bushfires in the state’s west.

A catastrophic fire weather warning had been issued in one region – Australia’s highest level of bushfire danger.

The state’s energy minister, Lily D’Ambrosio, said Tuesday’s power blackout – which authorities warn could last for weeks – was one of the largest in Victoria’s history.

“At the peak, 529,000 were without power due to physical damage to power lines caused by extreme weather,” she said in a post on X, formerly known as Twitter.

The outages happened after a number of transmission towers collapsed in the storm – forcing a power station to shut down.

There was also widespread disruption to transport in Melbourne, with half of the city’s train lines being suspended.

Public Transport Victoria (PTV) said it had been forced to shut many lines down due to multiple reports of storm damage.

“We’ve got nothing,” a resident of Melbourne suburb Wantirna told 3AW radio, referring to mobile phone and electricity outages.

Severe weather warnings were issued by the Bureau of Meteorology but most of them were later cancelled.

In Victoria’s western Wimmera region, a catastrophic fire warning was issued on Tuesday after conditions there were said to be the worst since catastrophic wildfires four years ago. Nationally those blazes led to 480 deaths, destroyed 2,500 homes and burned 24 million hectares of land – an area the size of the UK.

Five firefighters suffered minor burns when the vehicle they were in was overtaken by fast-moving flames in the town of Pomonal.

“Obviously a very frightening experience for everybody involved,” Chris Hardiman, chief fire officer for Forest Fire Management Victoria, told public broadcaster ABC News.

Emma Kealy, an MP for the county of Lowan, said she had been told that as many as 30 properties had been lost in the local area.

On Wednesday authorities said the situation had started to ease due to cooler conditions, and the fire warning has since been downgraded.

Australia has already dealt with hundreds of fires, some of which have turned deadly, since summer officially began in December – although the fire season started well before that.

Last winter was the country’s warmest since records began more than 100 years ago, according to the Bureau of Meteorology. That was followed by its driest autumn.

The world’s top climate scientists have warned that a future full of worsening disasters, including storms and fires, is likely unless urgent action is taken to tackle climate change.

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Royal motorcade honkers will be charged – police chief

Royal motorcade honkers will be charged - police chief
National police chief Pol Gen Torsak Sukvimol, second left, and senior officers discuss the protection of royalty with Prime Minister Srettha Thavisin, centre, on Sunday. (Photo: the prime minister’s X account)

The people who honked and tried to cut in on a royal motorcade early this month will be formally charged later this week, the national police chief said on Monday.

Pol Gen Torsak Sukvimol  also said he believed the suspects had people advising them in their protest activities.

On Feb 4, Tantawan Tuatulanon and a colleague from the Thalu Wang (breaking into palace) group allegedly attempted to interrupt the motorcade of Her Royal Highness Princess Maha Chakri Sirindhorn on an expressway in Bangkok, honking their car horn and trying to cut into the middle of it.

Ms Tantawan, 20, is a seasoned campaigner against royal motorcades and the disruption they cause. 

She was arrested on March 5, 2022 on charges of violating Section 112 (the lese majeste law) of the Criminal Code by running an opinion poll on Facebook on royal motorcades on Feb 8, 2022, and making a live broadcast on the topic on March 5. Other key figures of the group also face charges under Section 112.

On Feb 8, 2022, she also led an activity in front of Siam Paragon shopping mall, seeking people’s opinions on the subject, which resulted in Ms Tantawan being charged with defaming the monarchy.

“Please let police gather clear evidence. When it is done, everyone will see that police are thorough… Please give us two more days and then there will be charges and arrest warrants. There will definitely be arrests,” the national police chief said on Monday.

Prosecution would lead to the revocation of temporary release on bail for some suspects, he said.

The police chief believed the young demonstrators did not act alone, they had supporters and advisors.

On Saturday the group had refrained from action that would have otherwise caused legal problems for them. “I believe they have advisors. I do not confirm whether any politician was involved, but I do confirm that there are advisors,” Pol Gen Torsak said.

The group had planned to continue their polling on royal motorcades, but were confronted by royalist opponents and there was a brawl on a Bangkok skywalk.

“Every suspect will face action, where evidence supports it,” he said.

The national police chief said he had worked on protecting royalty for a long time and police were ready to protect the royal family with their lives. Protection of the royal institution was the first and foremost task of police.

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Imran Khan: How Pakistan ex-PM plans to win an election from jail

People at a rally for Atif Khan in Khyber Pakhtunkhwa watch him speak on a big screen on the back of a truck 3 Feb 2024

Khan Imran and his party had considerably deteriorated from social sophistication, going from prime minister to jail in less than two decades.

Despite the fact that the PTI’s founder was imprisoned in cases he claims were politically motivated and barred from running for office, the group claims it has n’t given up on its hope of winning this week of general elections in Pakistan.

With the aid of a social media fightback and new, frequently unknown candidates, the group hopes to get past the authorities ‘ onslaught.

Rehena Dar is being dragged along Sialkot’s back streets past the banners of her mouth that are affixed to the confined road corners of this city in Punjab state. As rose flowers wash her from below, the sound of beating drums clears her path.

If becoming a politician in her 70s caught her off guard, she does n’t even hint at it. The worries that have kept many of her fellow applicants out of politics or beneath appear to have been dismissed.

She exclaims with the assurance of someone who has worked the public for years,” It is very good that the happy sons and daughters, brothers and mother of my capital Sialkot are standing with me.”

” I’m here with Khan Imran, and I’ll be there.” I will continue to carry Khan Imran’s emblem and walk the streets if I am left alone in common.

Rehena Dar walks through Sialkot

That is unquestionably genuine based on a quick look around. Khan Imran’s graphic is held upright by the little group that has gathered around Mrs. Dar as flags for his PTI fly overhead.

However, Mrs. Dar is never a PTI member. She is essentially an separate, like all of their candidates, because the electoral commission decided to remove the PTI’s cricket bat symbol.

Even though it may seem like a small decision, having an identifiable mark for individuals to use on the ballot paper is crucial in an illiteracy rate of 58 %. Each participant today has their own option symbol; Mrs. Dar’s is a baby cot, while others have objects like kettles or saxophones.

The PTI claims that numerous obstacles have been put in its path as it prepares for the election on February 8 and that the choice is just one of them.

But the battle has n’t stopped. It is demonstrating its willingness to put everything it has into this war, whether it be candidates pounding the streets like Mrs. Dar or systems that can move a chief from incarceration to the front of savages.

People drive past electoral posters of jailed former Prime Minister Khan Imran

EPA

Usman, Mrs. Dar’s brother, led the group through Sialkot during the previous election. He was a freshman PTI president who worked for former Prime Minister Khan Imran as the special adviser on children matters.

However, his household claims that Khan Imran was the “mastermind of the 9 May protests” when he made an appearance on television in earlier October after going missing for three months.

On that day last month, after Khan Imran was detained, nationwide protests broke out, some of which turned violent. Numerous Khan adherents were detained on suspicion of attacking military structures, including the home of Lahore’s most senior military official.

Khan was freed, but his group was still under attack.

Officials in his party announced their resignations from the PTI or from politics altogether in the weeks and months following the demonstrations. According to the authorities, the fact that many of Khan’s senior leaders were among them was a sign that his former supporters did n’t want to be connected to any party that was responsible for the unrest.

The PTI claimed that the defections were coerced.

Regardless, Mrs. Dar did n’t seem impressed.

I did not concur with Usman Dar’s speech when he made it, according to Mrs. Dar. I informed him that my son’s death would have been preferable. You have lied in your speech.

But, Mrs. Dar’s explicit campaigning style is certainly a possibility for all of the PTI candidates.

As long as they have not been found guilty of a crime, some applicants who have continued their campaigning while incarcerated are eligible to run for office from behind bars.

Others are waging their activities while hiding and have completely avoided the authorities.

In the northern part of Pakistan, in Khyber Pakhtunkhwa, Atif Khan served as a provincial secretary. His team then drives around his piece, parking up in town squares to tackle PTI followers, as part of his battle, and he appears on video channels on three-meter windows.

People at a rally for Atif Khan in Khyber Pakhtunkhwa watch him speak on a big screen on the back of a truck 3 Feb 2024

He claims that because he has been in concealing since May, this is the only way for him to deliver his message to citizens. According to the authorities, he is a required person. He thinks a fair trial would n’t be given to him.

We are trying to control it, Mr. Khan told the BBC.” It’s a completely unique experience, not among the masses, nor on stage, but among people.”

The young vote is PTI’s largest support center. They use electronic media, such as cellular phones, so we reasoned that we ought to interact with them more through it. The only thing we can do is run a campaign using online media.

The PTI’s plan has relied heavily on technology.

More people follow the group’s standard X, Instagram, and TikTok sites than the other two main parties, the PPP and PML- N, combined. Khan Imran is the only one of the three parties ‘ leaders with a personal profile on each of those three systems, indicating that their information is reaching the general public.

Khan Imran

Reuters

Additionally, there have been initiatives to use technology to try and inform citizens of which candidate is PTI-backed. Without the unifying symbol of the baseball bat, the PTI has created a website where voters may enter their district and find the candidate’s symbol who is supported by the party.

Another problem arose when it came to planning protests. Politicians and character are closely related in Pakistan. Khan Imran, the adored cricketer who later became a legislator, was probably one of the biggest, attracting thousands to his gatherings.

But after receiving two and a half words this month, he is currently incarcerated and has been there since August and appears likely to remain for the next 14 years.

The group claims that planning demonstrations has been difficult for it. Authorities in Karachi used tear gas to disperse a crowd of tens of PTI followers in late January. The authorities claimed that they lacked the necessary authorization to obtain.

Pakistani police detain supporters of jailed former prime minister Khan Imran

EPA

This is just the most recent instance, according to the PTI, of how they have been prevented from running for office. The BBC spoke with every candidate’s campaign crew, and they all mentioned intimidating their followers. The PTI has claimed that in order to prevent them from running, there has been a battle of harassment, kidnapping, prison, and violence against them.

Murtaza Solangi, the caregiver minister of information, told the BBC,” We find these allegation false and absurd.” Sure, people have been detained; however, some of these detentions were related to the events of May 9 and others to additional criminal cases.

But, even if their claims are unfounded, the PTI is free to voice their disapproval. They are reported in the media. They also have different legal options, such as the highest authorities in the nation, at the same time.

What is the answer to these issues? online demonstrations.

Jibran Ilyas, the head of the PTI cultural advertising, told the BBC over the phone that it was” affordable, safe, and quick.” Perhaps the actual rallies had a little less of an impact, but we were still trying to get our point across.

Mr. Ilyas remarked,” We’ve always had a political protest without Imran before.” Without him, had one still function? They were n’t entirely certain.

People are yearning for Khan Imran’s concept, he claims, which is the issue.

So how do you spread the word?

They used AI to create a conversation for an online march in December.
There are restrictions. Internet monitoring organization Netblocks reports that several times during some of these PTI demonstrations saw widespread disruption across various programs in Pakistan.

Only about 30 % of people in Pakistan use social media regularly. According to Michael Kugelman, chairman of the South Asia Institute at the Wilson Centre think tank in Washington, this suggests that as effective as the PTI is at spreading the word on social advertising, there will be natural restrictions on their approach with their virtual campaigning.

Of course, this has been observed before; most importantly, when Nawaz Sharif was imprisoned during the previous vote.

According to Mr. Kugelman,” If everything sounds the similar, that’s because it is; the players have really changed.”

View of campaign posters and flags of political parties along a street, ahead of general elections, in Peshawar

Reuters

He, like the majority of social analysts, believes that Pakistan’s potent military—the similar military that many believe to be the first ticket to power—is to blame for this turn of events.

The PTI received electoral support in 2018, but it is obvious that electoral engineering, even if it was n’t done directly by the military, benefited them.

There were numerous instances of exploitation and suppression. Users of the PML-N group were detained, and prison sentences were announced shortly before the election, including Nawaz Sharif’s 10 year prison sentence.

However, Mr. Kugelman believes that this is distinct from current times.

The handbook is the same, I would contend, but the depth is higher this time. More leaders and supporters have been detained and imprisoned than in subsequent votes.

Family people have been involved in this this day. Although it is not unusual, what we have observed in more new votes makes that stand out.

The PTI has made an effort to use each setback against Khan Imran or its plan as fuel, but will it be successful?

Nawaz Sharif and Bilawal Bhutto, two of Khan’s competitors for the PML-N and the PPP, are frequently covered at election rallies on Pakistani television programs. The PTI has received the majority of the media attention in the week leading up to the election regarding their president’s prison terms.

Mr. Kugelman contends that many voters might believe there is no place in election because they believe the PTI has no chance of winning.

How to motivate a sizable help base to turn out and voting in spite of everything that is happening to Khan is the challenge facing the PTI management. Some members of the PTI believe they could pull off a magic and win if they do get out there and vote attendance is large enough.

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FBI says Chinese state hacker group targeted US infrastructure

FBI director Christopher Wray testifying on China's cyber threat before a US congressional committee on 31/1EPA

The US has managed to dismantle the hacking efforts of a Chinese state-sponsored group that had been targeting key public infrastructure like the power grid and pipelines, says the FBI.

The FBI’s director told lawmakers it had executed a campaign to shut down the “Volt Typhoon” group.

That group hacked into hundreds of older office routers to access data on US assets, Christopher Wray alleged.

The Chinese government is yet to respond to the accusations.

However, it has previously denied accusations of state-sponsored cyber warfare against other countries. It has, in the past, also accused the US of being “the world’s biggest hacking empire and global cyber thief.”

Mr Wray on Wednesday told a US congressional committee that China was deliberately laying groundwork to cripple key US infrastructure systems in the event of a hostile conflict.

The hacking efforts of the “Volt Typhoon” group had first came to light last May in the US, after Microsoft warned the group had targeted several public assets including hacking into government email accounts.

The FBI says the group targeted a broad sweep of the country’s critical infrastructure including water treatment systems, the power grid, transportation systems, oil and gas pipelines as well as telecommunication networks.

Mr Wray said the China state-sponsored group had managed to install malware and take over hundreds of old and outdated routers connected to those infrastructure assets.

“The Volt Typhoon malware enabled China to hide, among other things, pre-operational reconnaissance and network exploitation against critical infrastructure,” he told the US congressional committee on US-China competition.

He said this showed the hackers were preparing to “wreak chaos and cause real-world harm to American citizens and communities.”

“If and when China decides the time has come to strike, they’re not focused just on political or military targets,” he added.

Cyber security experts in the US have previously warned that China is targeting infrastructure in order to lay the potential groundwork for the disruption of communications in the event of a conflict.

At Wednesday’s hearing of the Select Committee on Competition Between the US and China, the chairman said this was “the cyberspace equivalent of placing bombs on American bridges and power plants.”

The committee has been criticised by Beijing, which denies all allegations of cybercrime. The Chinese government has called on the committee to “discard their ideological bias and zero-sum Cold War mentality.”

But Mr Wray outlined Beijing’s resources dedicated to cyber warfare in detail and said China’s hacking programme was bigger “than every other major nation combined.”

He also said the FBI’s cyber agents were outnumbered by their Chinese counterparts by 50 to 1.

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Red Sea attacks: Ship stranded at sea with livestock docks in Australia

File image of a group of sheepGetty Images

A ship carrying 16,000 sheep and cattle that had been stranded off the coast of Australia in extreme heat has returned to a Perth port.

Last month, the MV Bahijah abandoned its journey through the Red Sea – where Houthi fighters in Yemen have been attacking ships – leaving the animals stuck on board for weeks.

The vessel had remained at sea pending an Australian decision on whether the livestock could be offloaded.

Officials cited biosecurity risks.

It is still unclear whether the animals will be permitted to disembark from the vessel.

On Thursday, Australia’s agriculture department said that veterinarians who had examined the animals found no “significant health, welfare or environmental” concerns and that it was determining its next steps.

In an earlier update, it stressed that any livestock arriving in the country would be subject to “strict biosecurity controls” and that their “health and welfare” was the highest priority.

Australia’s government says its biosecurity rules, some of the toughest on the planet, have kept the country free from many of the world’s most invasive pests and diseases.

The incident highlights the far-reaching consequences of recent attacks on ships by Houthi militia, who are backed by Iran.

The fighters began attacking ships in response to Israel’s actions in the Palestinian enclave of Gaza. They have insisted they only target ships linked to Israel.

The vessel in question was bound for Israel when it set sail from Fremantle in Perth on 5 January. The animals were among hundreds of thousands sent from Australia to the Middle East every year.

The government says it told the ship to return to Australia on 20 January, citing the “exceptional circumstances” at work.

The Red Sea is a critical shipping route which provides access to the Suez Canal – which itself offers the quickest way for ships to pass between Asia and Europe.

Ongoing insecurity has prompted international shipping firms to take long diversions around southern Africa, causing severe disruption to global supply chains.

The US and UK have launched strikes against Houthi targets in Yemen, saying they are protecting commerce. They have been supported by several other countries including Australia.

Some 14,000 sheep and 2,000 cattle are stuck on board the Bahijah in temperatures close to 40C (104F), the Reuters news agency quoted farm and exporter groups as saying.

The ship’s manager has not commented on the plight of the livestock.

The Australian government looked to strike a reassuring note in its Wednesday-evening update, which said two independent vets had been to visit the animals on board.

They found “no evidence of any significant health, welfare or environmental concerns”, the statement said.

The events have shone a spotlight on the conditions faced by animals sent on vessels overseas.

Last April, New Zealand banned the live export of animals after an incident that saw thousands of cows drown in a shipwreck. The Australian government has pledged to outlaw the export of live sheep.

BBC map shows the consequences of ships diverting away from the Red Sea - incurring a much longer journey around the Cape of Good Hope in southern Africa

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Red Sea attacks: Sheep and cattle left stranded off Australia’s coast

File image of a group of sheepGetty Images

There are fears for the welfare of 16,000 sheep and cattle which are stuck on a ship off the coast of Australia – due to events more than 10,000km away.

The animals are on board the MV Bahijah in extreme heat. The ship abandoned its journey earlier this month through the Red Sea – where Houthi fighters in Yemen have been attacking ships.

The boat returned to Australia, but remains at sea pending a decision on whether some animals can be offloaded.

Officials pointed to quarantine rules.

Updates from Australia’s agriculture department on Wednesday said any animals arriving in the country by boat would be subject to “strict biosecurity controls”, meaning quarantine, though it was stressed that health and welfare were high-priority.

Australia’s government says its biosecurity rules, some of the toughest on the planet, have kept the country free from many of the world’s most invasive pests and diseases.

The incident highlights the far-reaching consequences of recent attacks on ships by Houthi militia, who are backed by Iran.

The fighters began attacking ships in response to Israel’s actions in the Palestinian enclave of Gaza. They have insisted they only target ships linked to Israel.

The vessel in question was bound for Israel when it set sail from Fremantle, Western Australia, on 5 January. The animals were among hundreds of thousands sent from Australia to the Middle East every year.

The government says it told the ship to return to Australia on 20 January, citing the “exceptional circumstances” at work.

The Red Sea is a critical shipping route which provides access to the Suez Canal – which itself offers the quickest way for ships to pass between Asia and Europe.

Ongoing insecurity has prompted international shipping firms to take long diversions around southern Africa, causing severe disruption to global supply chains.

The US and UK have launched strikes against Houthi targets in Yemen, saying they are protecting commerce. They have been supported by several other countries including Australia.

Some 14,000 sheep and 2,000 cattle are stuck on board the Bahijah in temperatures close to 40C (104F), the Reuters news agency quoted farm and exporter groups as saying.

The ship’s manager has not commented on the plight of the livestock.

The Australian government looked to strike a reassuring note in its Wednesday-evening update, which said two independent vets had been to visit the animals on board.

They found “no evidence of any significant health, welfare or environmental concerns”, the statement said.

The events have shone a spotlight on the conditions faced by animals sent on boats overseas.

Last April, New Zealand banned the live export of animals after an incident that saw thousands of cows drown in a shipwreck. The Australian government has pledged to outlaw the export of live sheep.

BBC map shows the consequences of ships diverting away from the Red Sea - incurring a much longer journey around the Cape of Good Hope in southern Africa

Getty Images

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DisruptInvest to gather 1000+ entrepreneurs, investors & corporates to drive startup investments & acquisitions

Summit set to attract over 1,000 attendees
Aims to unite startup investors, corporate innovation communities for long-term collaboration

NEXEA has announced the annual DisruptInvest Summit on the 23rd of May 2024. This gathering is touted as Malaysia’s largest startup and corporate innovation event, aiming to invigorate the startup ecosystem, fostering connections and collaborations…Continue Reading

North Korea fires cruise missiles in fresh flurry of tests

SEOUL: North Korea fired another round of cruise missiles on Tuesday (Jan 30), Seoul’s military said, extending a recent flurry of tests of weapons that analysts warned could be destined for Russia’s war in Ukraine. This month, Pyongyang has conducted tests of what it called an “underwater nuclear weapon system”,Continue Reading

Evergrande: Crisis-hit Chinese property giant ordered to liquidate

China Evergrande Centre sign in Hong Kong.Getty Images

A court in Hong Kong has ordered the liquidation of debt-laden Chinese property giant Evergrande.

Judge Linda Chan said “enough is enough”, after the troubled developer repeatedly failed to come up with a plan to restructure its debts.

The firm has been the poster child of China’s real estate crisis with more than $300bn (£236bn) of debt.

But it is unclear how far the Hong Kong ruling will hold sway in mainland China.

The property giant, which has been in hot water with its creditors for the last two years, filed a request for another three months’ leeway at 4pm on Friday.

But Judge Chan turned it down, describing the idea as “not even a restructuring proposal, much less a fully formulated proposal”. Instead she ordered the start of the process to unwind Evergrande, appointing liquidators at Alvarez & Marsal Asia to oversee it.

The liquidators said their intention was to “achieve a resolution that minimises further disruption for all stakeholders”.

“Our priority is to see as much of the business as possible retained, restructured, or remain operational,” said Wing Sze Tiffany Wong, one of the managing directors.

The slowburn crisis at Evergrande has sent shockwaves through the investment community, with its potential impact likened to the collapse of Lehman Brothers at the start of the financial crisis.

China’s property sector remains fragile as investors wait to see what approach Beijing will take to the court’s move.

The decision is likely to send further ripples through China’s financial markets at a time when authorities are trying to curb a stock market sell-off.

Evergrande shares fell by more than 20% in Hong Kong after the announcement, before trading was suspended.

The liquidators will look at Evergrande’s overall financial position and identify potential restructuring strategies. That could include seizing and selling off assets, so that the proceeds can be used to repay outstanding debts.

However, Beijing may be reluctant to see work halt on property developments in China, where many ordinary would-be homeowners are waiting for apartments they have already paid for.

Evergrande has come to symbolise the rollercoaster ride of China’s property boom and bust, borrowing heavily to finance the building of forests of tower blocks aimed at housing the millions of migrants moving from rural areas to cities. It ran into trouble, and defaulted on its debts in December 2021.

Evergrande’s chairman, Hui Ka Yan, hit the headlines for his lavish lifestyle, before it was announced last year that he was under investigation for suspected crimes.

Ordinary Chinese property buyers have limited options to demand compensation, but many have taken to social media to express their frustration about developers like Evergrande.

Big investors have turned to the courts, including in Hong Kong, where Evergrande’s shares are listed. The case that resulted in Monday’s ruling was brought in June 2022 by Hong Kong-based Top Shine Global, which said that Evergrande had not honoured an agreement to buy back shares.

Evergrande’s executive director, Shawn Siu, described the decision to appoint liquidators as “regrettable”, but told Chinese media the company would ensure home building projects would be delivered.

The unwinding is likely to take some time and construction is expected to continue in the meantime.

Most of Evergrande’s assets – 90% according to Judge Chan’s ruling – are in mainland China and despite the “one country, two systems” slogan, there are thorny jurisdictional issues.

Ahead of Monday’s ruling, China’s Supreme Court and Hong Kong’s Department of Justice signed an arrangement to mutually recognise and enforce civil and commercial judgements between mainland China and Hong Kong.

But experts are still unsure whether that agreement will have an impact on Evergrande’s liquidation order.

Derek Lai, the global insolvency leader at professional services firm Deloitte said the liquidator would need to “follow the laws of mainland China”, which could make it hard to take full control of Evergrande’s operations there.

Beijing may want to see mainland building projects completed to meet the expectations of Chinese buyers and investors.

The Evergrande Center, developed by China Evergrande Group, under construction in Hefei, China.

Getty Images

Foreign creditors are unlikely to get their money before mainland creditors.

However, even if Judge Chan’s orders are not carried out in China, the decision sends a strong message and gives a clue on what other developers and creditors may face.

She presides over not just Evergrande’s case, but also other defaulted developers such as Sunac China, Jiayuan and Kaisa.

Last May, she also ordered the liquidation of Jiayuan after its lawyers failed to explain why they needed more time to iron out their debt restructuring proposal.

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