Hong Kong developer New World to focus on managing debt, SCMP reports By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 22 2024
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Source: Investing.com
Debt Management Focus: New World Development is prioritizing debt reduction over mergers or acquisitions, with a current consolidated net debt of HK$123.7 billion and plans to manage dividends and stock buybacks to lower leverage.
Leadership Change and Financial Loss: The company recently appointed Eric Ma as CEO following a significant annual net loss for fiscal year 2023, and it intends to sell non-core assets worth HK$13 billion while avoiding a rights issue.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
