• There is mounting fear about developer’s ability to repay piling debt against the backdrop of muted property sales and efforts by Beijing to rein in the property sector
  
• The company ‘is no longer a viable business’, say TS Lombard analysts
  

China Evergrande Group , the world’s most indebted property developer, is facing a final notice after engaging in a years-long spending spree to construct a sprawling empire spanning everything from theme parks to electric vehicles  (EVs).

The Shenzhen-based company, which at one point unsuccessfully employed martial-arts star Jackie Chan as a pitchman for its mineral water brand, tapped the bond markets nearly 40 times in a four-year period and amassed hundreds of billions of yuan in bank loans as it sought to expand its core residential housing business and diversify the scope of its operations – even as its total liabilities exceeded US$300 billion.

But, the bill for that largesse is coming due, as fears are rising about its ability to repay its cascading pile of debt against the backdrop of muted property sales in mainland China and efforts by Beijing to rein in the property sector in the past year.