A local real estate developer with extensive links to Evergrande executives recorded a profit of more than $133 million but owes an “old friend” of the collapsed Chinese property giant’s detained former chairman almost $1.2 billion.
Wang Zhongming, 62, has been providing debt finance to AW Holding Group, which owns the massive Jewel development in Surfers Paradise. The businessman, who lived for some time in New Zealand, is now in Texas, according to company records.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
