New World, SHK Properties to Offer Clues Amid Rising Property Distress
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Debt woes from Hong Kong developer New World Development Co. are set to continue as further losses loom.
The firm will record a first-half loss from continuing operations of HK$6.6 billion to HK$6.8 billion ($849 million to $875 million), according to its preliminary results on Friday. The loss is mainly due to asset impairment and lower-than-expected prices for its development properties.