Evergrande chairman confident company will 'walk out of its darkest moment

Chairman Hui Ka Yuan said Evergrande will deliver property projects as pledged, fulfil responsibilities to property buyers, investors, partners and financial institutions

China Evergrande Group is confident the company will “walk out of its darkest moment”, the debt-laden property developer’s chairman said in a letter to staff on Tuesday, as nervous global investors fretted about default risks.

In the letter that coincided with China’s mid-autumn festival, Hui Ka Yuan, expressed appreciation for the hard work of employees and said Evergrande will deliver property projects as pledged, fulfil responsibilities to property buyers, investors, partners and financial institutions.

The nation’s second-largest developer, saddled with more than $300 billion