Posted on

Third bond default by Chinese electronics firm within a month points to wider corporate governance issues

Tunghsu Optoelectronic Technology has failed to make good on a bond – its third in less than a month – as the struggles point to poor corporate governance among Chinese companies.The maker of electronic display panels, which reported ample cash holdings of more than 18 billion yuan as of September, missed an interest payment on its 1.7 billion yuan (US$241 million) onshore bond due on Monday, according to an exchange filing.The latest default has cast doubt on whether Tunghsu could meet its…

Source: South China Morning Post