New World Development to focus on debt management before pursuing M&A, Cheng says

Quick Summary:

Developer is focused on liability management following a management shake-up in September to steady the ship, chairman Henry Cheng says.

Its shares have slumped 39 per cent in Hong Kong trading this year, trimming the firm’s market capitalisation to HK$18.1 billion.

Net gearing, or debt-to-equity ratio, jumped to 55 per cent from just under 50 per cent in December.

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Article Details

Author / Journalist: Yulu Ao

Category: Business

Markets: Hong Kong

Topics: Cheng Chairman Debt Dividend Cent Year Management Financial Billion Report Payout

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 19:30:09 (2 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 311 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23735822

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