Reported 2 days ago
New World Development (NWD), a Hong Kong developer, has seen its shares plummet nearly 30% since appointing a new CEO in November, with a 7% drop in the new year alone after losing over 50% last year. Despite selling assets to manage its substantial debt, which has increased its gearing ratio to 89%, concerns over liquidity remain unaddressed. The company has faced management changes and lost its place on the Hang Seng Index, leaving analysts predicting a bearish outlook for its shares.
Source: YAHOO