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| HSI1 | 23,916.06 | -153.88 | 267.81B |
| HSCEI1 | 8,609.27 | -39.17 | 80.13B |
| Back Zoom + Zoom - Block Traded | |
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2025-07-03 14:48:47 NEW WORLD DEV (00017.HK) has secured new bank financing and a unified bank financing agreement before the deadline, involving around HKD88.2 billion in existing offshore unsecured financial debt, which is in line with expectations and believed to give the group some breathing room, JPMorgan wrote in its research report. However, liquidity pressure on NEW WORLD DEV is estimated to persist since the group still has about HKD100 billion in debt (including perpetual bonds), and the interest coverage ratio remains at a tight level. JPMorgan decided to keep an Underweight rating on the group, citing that shareholder interests may be sacrificed when management prioritizes deleveraging and avoiding default. That said, JPMorgan still believes Hong Kong authorities and banks won't want NEW WORLD DEV to experience a technical default in order to avoid triggering systemic risks, and hence more support should be provided in the future. The broker set its target price for the group at HKD3.7. ~ AAStocks Financial News Web Site: www.aastocks.com | |