TWO Hong Kong-listed real estate firms are delaying interim dividend payments by months, the latest step by companies in a sector facing mounting bills and limited fundraising options. Zhongliang Holdings Group Co. and DaFa Properties Group Ltd. both said in Hong Kong stock exchange filings dated Tuesday that the payments were being pushed back to preserve cash. Shanghai-based Zhongliang, ranked as China’s 26th biggest builder by contracted sales according to China Real Estate Information Corp. (CRIC), said that its interim dividend expected Jan. 25 will be paid around the end of August instead. Zhongliang would need to pay about HK$659 million (US$84.6 million), according to calculations based on company filings. “Given the continued uncertainty of the Chinese real estate sector, the group believes that it is prudent, conservative and responsible to preserve more cash to maintain liquidity,” said Zhongliang in its filing, citing “adverse market conditions.” DaFa, ranked 82nd by CRIC, said that its interim payment expected yesterday will now be paid around April 6. The payment would amount to about 39.7 million yuan (US$6.2 million), according to calculations. Zhongliang and DaFa respectively have US$232.1 million and US$215.9 million of dollar-bond interest payments and maturities to meet this month. (SD-Agencies) | 