Sep 28th, 2021

Poker Pal of Evergrande Founder Heads for the Exit

The China Evergrande Group crisis continues. There are signs of deepening troubles for its founder Hui Ka Yan. One of his deep-pocket allies and a poker buddy Joseph Lau is heading for the exit. Chinese Estates Holdings Ltd., which is controlled by Lau’s family, sold HK$350.9 million ($45 million) worth of Evergrande stock on Monday days after saying it could unload its entire stake. Stephen Engle reports on "Bloomberg Daybreak: Asia." (Source: Bloomberg)