Victoria Dockside – Charm

NWD reports losses for second straight year as CEO says debt reduction efforts yield results

Cs news1 month ago02 mins

New World Development (NWD), controlled by one of Hong Kong’s richest families, reported losses for the second consecutive year even as its CEO assured shareholders that there was no need for “undue concern”. The developer, which has been battling liquidity problems for the past three years, said losses from continuing operations amounted to HK$16.3 billion…

New World secures US$11.3 billion refinancing just before deadline, averts loan default

Cs news4 months ago02 mins

Hong Kong developer New World Development (NWD) has successfully refinanced HK$88.2 billion (US$11.3 billion) of debt just before the deadline, concluding months of negotiations that pulled the company back from the brink of default. The refinancing package includes multiple tranches of bank loans with varying maturities, with June 30, 2028, being the earliest, the developer…