China Evergrande confident internal controls improved, could meet Hong Kong’s listing rules

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Embattled property developer China Evergrande Group said that it’s confident its internal controls and processes had improved and could meet the listing rules of the Hong Kong stock exchange.

The developer has appointed RSM Nelson Wheeler Consulting to conduct a review on its internal control and procedures, and Crowe (HK) Risk Advisory to conduct a review on certain issues raised by its former auditor, it said.

Evergrande’s stock trading was suspended in March last year after it slipped into a debt crisis and the company has said the trading will remain suspended until further notice. Last week, Evergrande sought protection under Chapter 15 of the US bankruptcy code.