New World Development set to log $875m H1 loss amid debt crisis

New World Development set to log $875m H1 loss amid debt crisis

FILE PHOTO: A view shows the headquarters of New World Development at New World Tower, in Hong Kong, China September 27, 2024. REUTERS/Tyrone Siu/File Photo

Hong Kong’s New World Development, which has been battling liquidity stress for the past three years, is set to report an interim net loss of up to $875 million on Friday, hurt by a prolonged property downturn and high interest costs.

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