New World has been embroiled in turmoil as investors question its ability to cope with one of the highest debt burdens among the city’s developers.
Debt woes from Hong Kong developer New World Development 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 ($1.13 billion to $1.17 billion), according to its preliminary results on Friday. The loss is mainly due to asset impairment and lower-than-expected prices for its development properties.
