This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
NWD Posts $2.1bn Loss; Halts Dividends, Defers Distribution on Perps
September 29, 2025
New World Development (NWD) posted a loss of HKD 16.3bn ($2.1bn) from continuing operations in the year ended June 30, mainly due to one-time impairment provisions and losses, according to an exchange filing. This was worse than the HKD 11.8bn ($1.5bn) loss posted in the previous financial year. Consolidated net debt eased by 3% to HKD 120.1bn ($15.4bn). However, revenue fell 23% YoY to HKD 27.68bn ($3.6bn), while core operating profit declined 13% to HKD 6.01bn ($770mn). The company plans to raise HKD 27bn ($3.5bn) from contracted property development sales and asset disposals in the ongoing financial year to reduce debt. In an online briefing, CEO Echo Huang also mentioned that the company has decided to halt dividend payments and defer distribution on perpetual notes to improve financial flexibility, and that the firm has no plans for rights issue or placements at the moment.
Its 5.875% 2027 bonds were down by around 0.5 points from the beginning of the month, at 84.50 cents on the dollar, yielding 16.6%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.