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12.12.25 - 02:42
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Rosewood hotel brand of Hong Kong′s Chow Tai Fook is not for sale, sources say (SCMP)
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Hong Kong-based Chow Tai Fook Enterprises (CTFE), the private investment holding company of the Cheng family and the parent firm of debt-ridden New World Development (NWD), has no plans to sell its prized Rosewood brand, according to sources familiar with the matter.
“Rosewood has delivered exceptional results in recent years and is one of the family's most cherished luxury hotel brands,” a source said.
The group's properties were operating as usual, with strategic investments in nearly 30......
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11.12.25 - 15:06
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Chow Tai Fook sells Australian energy assets to Singapore group for US$4.3 billion (SCMP)
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Chow Tai Fook Enterprises (CTFE), the parent company of embattled Hong Kong developer New World Development (NWD), is selling Australian utility Alinta Energy to a Singapore-based group for A$6.5 billion (US$4.3 billion).
Sembcorp Industries will acquire 100 per cent ownership of Alinta and its units as well as Latrobe Valley Power (LVP) and its subsidiaries from Pioneer Sail Holdings, which is owned by CTFE and Pioneer Sail Singapore, according to Sembcorp's filing with the Singapore stock......
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11.12.25 - 12:18
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Adrian Cheng signs retail partnership with Wafi Group, headed by Dubai royal (SCMP)
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Adrian Cheng Chi-kong, former heir apparent to Hong Kong property giant New World Development (NWD), has partnered with a Dubai royal and businessman to spruce up the retail, leisure and cultural offerings of Wafi City, one of the United Arab Emirates (UAE) city's top shopping destinations.
Cheng and Dubai Sheikh Mana bin Khalifa Al Maktoum, founder and chairman of the Wafi Group, signed an agreement to set up a new entity called Wafi Anime 11 in Dubai on Wednesday, according to a statement on......
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01.12.25 - 05:54
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HK′s Cheng Said To Seek Sale of Some Rosewood Hotels (Bloomberg)
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Bloomberg has learnt that Hong Kong tycoon Henry Cheng is seeking buyers for properties in the family's luxury Rosewood Hotel Group as the billionaire clan races to overcome liquidity challenges at its real estate unit, New World Development. (Source: Bloomberg)...
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27.11.25 - 06:12
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Hong Kong developers Sino Group, NWD delay home sales after deadly Tai Po fire (SCMP)
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Hong Kong's developers have postponed property sales scheduled for Friday as the city mourns the deaths of dozens of residents in a devastating fire that broke out in Tai Po.
Sino Group and New World Development announced on Thursday that the sale of 150 units at One Park Place in Yau Tong, and 63 units at the Austin Bohemian project in Tsim Sha Tsui, respectively, would be deferred.
Both Sino Group and NWD did not disclose the reason for the postponement or when the sales would be......
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21.11.25 - 03:15
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Henry Cheng Re-elected as NWD Director with 96.7% Shareholder Support (AAStocks)
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NEW WORLD DEV (00017.HK) held its annual general meeting yesterday (20th), where resolutions were passed through voting to re-elect eight directors of the board, determine directors' remuneration, and reappoint PricewaterhouseCoopers as the auditor.Specifically, the resolution to re-elect Chairman Henry Cheng as a director r......
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18.11.25 - 09:24
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New World Development secures 65% perpetual bond swap but debt pressure persists (SCMP)
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Distressed Hong Kong developer New World Development (NWD) has secured investor consent to swap 65 per cent of its perpetual bonds in an exchange plan by an early deadline, but still has work to do to tackle the highest debt load among builders in the city.
Investors tendered US$2.09 billion of the securities by an initial early deadline of November 17, out of a potential amount of as much as US$3.2 billion, a company filing showed.
The company has since extended that early deadline for......
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17.11.25 - 03:45
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Adrian Cheng's K11 by AC Expands into Middle East: Report (AAStocks)
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AC Group, under former CEO of NEW WORLD DEV (00017.HK) Adrian Cheng, established a Middle East branch named K11 by AC Management Consultancy (Middle East) Limited, envisioned to make its foray into the Middle East market, Ming Pao reported. K11 by AC is now engaged in project commercial management in Mainland China, managing K11......
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10.11.25 - 05:12
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How Hong Kong Property Giant New World Ran Into Trouble (Bloomberg)
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Once a symbol of Hong Kong's property-fueled prosperity, New World Development Co. has become one of its most visible casualties. After years of easy credit and unabated expansion, the property giant – once among the most deep-pocketed in the city – is facing a financial reckoning....
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07.11.25 - 02:30
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NWD Tells Creditors Not Much Room to Improve Debt Swap Terms: Wire (AAStocks)
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NEW WORLD DEV (00017.HK) informed some creditors during a meeting this week that there is not much room for improvement in the terms of the debt swap, which, as previously announced, involves the issuance of new perpetual bonds and notes totaling up to USD1.9 billion, Bloomberg reported, citing sources.Meanwhile, some creditors ......
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