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[New World Development Faces Significant Interim Loss Amid Property Downturn And Debt Pressures] Hong Kong's New World Development Is Projected To Report An Interim Net Loss Of Up To $875 Million, A Stark Contrast To The Previous Year's $64.57 Million Profit, Due To A Property Downturn And High Interest Costs. This News Raises Concerns About Potential Sector-wide Crisis. Facing A Debt Of HK$151.6 Billion, With HK$41.6 Billion Due By June 2024 And Cash Reserves Of Only HK$28 Billion, The Company, Now Under New CEO Echo Huang, Is Under Pressure To Deleverage And Manage Upcoming Coupon Payments, Including A $40.6 Million Payment Due March 7 On Its 6.25% Perpetual Bond.
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