Reported about 1 month ago
Shares of Hong Kong property developer New World Development dropped 14% following its forecast of a net loss of up to HK$20 billion ($2.6 billion) for the financial year ending in June. The loss is attributed to declining revenues and significant fair value and impairment losses. Despite these challenges, analysts at JPMorgan suggest the actual loss may be lower when excluding non-cash items, placing focus on the company's balance sheet health and refinancing capabilities.
Source: YAHOO