New World Seeks Asset Sale by June to Turn Around Cash Flow

New World Development Co. is racing to offload at least one asset by the end of June to meet its self‑imposed HK$27 billion ($3.5 billion) sales target and generate positive cash flow, according to people familiar with the matter.

The company told some investors in recent meetings that it’s pushing to achieve positive cash flow for the fiscal year ending June, fast‑tracking asset disposals to fill a multibillion‑dollar gap in the goal, the people said, requesting not to be named as the information is private.