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NWD Rushing to Sell Assets by End-Jun to Generate Positive Cash Flow: Wire
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NEW WORLD DEV (00017.HK) informed investors in recent meetings that it is accelerating its push to sell at least one asset by the end of June in the hope that it can achieve the goal of generating positive cash flow for the fiscal year ending June 30, according to the sources quoted by Bloomberg. The report said NEW WORLD DEV didn't disclose any specific assets or the scale of the transaction, but some investors estimated that the funding gap could be over HKD8 billion, and that the group prefers to sell a core asset located in Hong Kong. Due to lukewarm investor interest, however, its plans to sell other projects have hit a hurdle. AAStocks Financial News |
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