News Snapshot:
Yang Huiyan Asia’s wealthiest woman has reportedly lost more than Half her Fortune as China Real Estate Sector Crashes due to Cash crunch. The 41 year old billionaire major shareholder and vice-chairwoman of Chinese property giant Country Garden, saw her net worth plunge by over 52 percentage from $23.7billion to $11.3billion in the past year, according to the Bloomberg Billionaires Index. Yang’s fortune took a nose dive on Wednesday, July 27, when Country Garden’s Hong Kong-listed shares fell by 15% after the company announced it would sell new shares to raise capital. The property sector in Asia is estimated to...
