New World Development 0017

New World Development 0017

Postby winston » Mon Jun 02, 2008 9:30 am

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BROKER CALL Hong Kong's New World Devt raised to 'overweight' - Lehman Brothers

HONG KONG (XFN-ASIA) - Lehman Brothers said it has upgraded New World Development (NWD) to "overweight" from "equalweight", but cut the target price to 25.75 hkd from 27.50.

The new target still offers more than 30 pct upside from the property developer's current price.

"We believe NWD's 33 pct correction year-to-date is excessive and more than reflects the 1-28 pct correction of its listed subsidiaries," Lehman Brothers said.

The brokerage expects to see good pre-sales at the company's two key residential projects Wylie Court and Hanoi Road in the second half of the year.

It raised New World's net profit forecasts for 2008, 2009 and 2010 by 14 pct, 32 pct and 30 pct respectively, to 5.56 bln, 5.87 bln and 5.16 bln hkd.

"While earnings have been marked up, our end-09 net asset value sees a 7 pct decline to reflect the decreased market value of (units) New World China, New World Department Store, and NWS Holdings," it said.
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Re: New World Development 0017

Postby greenhoney » Wed Mar 18, 2009 1:44 pm

they just posted a net loss of HK992 million for the first time in 4 years.
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Re: New World Development 0017

Postby winston » Wed Mar 18, 2009 1:53 pm

DJ MARKET TALK: CLSA Keeps New World Devt At Sell, Target HK$5.20

1224 [Dow Jones] STOCK CALL: CLSA keeps New World Development (0017.HK) at Sell, target price at HK$5.20. Notes NWD fiscal first-half core profit down 24% at HK$1.02 billion, in line with house's estimate.

Notes as of end-December, NWD has highest gearing of 49.5% in house's HK property coverage universe.

Notes near-term refinancing needs should be met with available cash resources, but relatively weaker balance sheet, higher refinancing needs limit ability to return cash to shareholders. Stock +1.5% at HK$6.99; HSI +1.5%.
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Re: New World Development 0017

Postby winston » Thu Jan 12, 2012 3:44 pm

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DJ HK Tycoon Cheng Yu-Tung Raises Stake In New World Development To 42.11% Vs 40.51%

HONG KONG (Dow Jones)--Hong Kong tycoon Cheng Yu-tung has raised his stake in his property flagship, New World Development Co. (0017.HK), to 42.11% from 40.51%, for around HK$501 million, according to a filing to the Hong Kong stock exchange.

The filing, published Tuesday by Chow Tai Fook (Holding) Ltd., Cheng's holding company, showed that the company bought 75.37 million New World Development shares off the exchange for an average price of HK$6.65 each on Jan. 5.

The shareholding increase came just weeks after New World Development completed a US$1.46 billion rights issue offering--at HK$5.68 per share--to fund the growth of its China property unit and strengthen the group's long-term capital base amid volatile market conditions.

New World's shares fell 46.5% in 2011, becoming one of the worst-performing blue-chip stocks on the Hang Seng Index, which itself was down 20%. Since the start of January, New World has rebounded around 15%.

Source: Dow Jones Newswires
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Re: New World Development 0017

Postby winston » Fri Mar 30, 2012 9:22 am

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Is SHKP dragging this counter down as well ? Down 7% ..
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Re: New World Development 0017

Postby winston » Sat Mar 15, 2014 5:27 pm

M Stanley: New World Dev privatization for New World China not cheap
2014-03-14

In view of NEW WORLD DEV (00017.HK) -1.350 (14.033%) Short selling $83.35M; Ratio 8.894% rights issue and privatization for NEW WORLD CHINA (00917.HK) +1.490 (28.988%) Short selling $72.30M; Ratio 23.679% , Morgan Stanley noted in a research report that according to the management, NEW WORLD DEV's net debt ratio would rise above 50% if the privatization is not funded by rights issue.

The management expected the rights issue would help control the ratio below 40%.

The broker considered the privatization can avoid double discount to NAV and lower finance costs in China business.

Morgan Stanley added the privatization is not cheap and based on past records, the stock would underperform after the rights issue. In 2011, the stock price slumped 17% on the day of rights issue announcement and 9% over the next two months, compared with Hang Seng Index down by 4% and up 1.6%, respectively.


Source: AAStocks Financial News
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Re: New World Development 0017

Postby winston » Sat Mar 15, 2014 5:29 pm

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Privatization of NEW WORLD CHINA (00917.HK) beneficial to future financial arrangement - Henry Cheng
2014-03-14

After NEW WORLD CHINA (00917.HK) +1.490 (28.988%) Short selling $72.30M; Ratio 23.679% announced the rights issue and the proposed privatization of NEW WORLD DEV (00017.HK) -1.350 (14.033%) , the company's chairman Henry Cheng explained that it is the appropriate time to conduct the privatization as the circulation of New World China Land's shares is relatively low on the market, so this move will facilitate the borrowing and other financial arrangements of the company and help the company's operations run more smoothly.


Source: AAStocks Financial News
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Re: New World Development 0017

Postby winston » Fri Feb 24, 2017 7:07 am

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Rotational buying moved to the developers, with New World Development (017) performing best.

Its shares rose 3.3 percent to HK$10.10 yesterday, and its cumulative gain in 2017 is about 20 percent.

Many brokers like this company after interim earnings jumped 31 percent to HK$4.336 billion.

Other highlights were also encouraging. The newly redeveloped New World Centre in Tsim Sha Tsui is about to reopen and pre-leasing was satisfactory, and the group just won the bid for a big commercial-residential site in Cheung Sha Wan.

Brokers bullish on the firm gave it a target price of HK$11.50 to HK$13.15.

Any dip near HK$9.70 should be a good bargain, looking for 20 percent return in medium-term.

Source: Dr Check, The Standard
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Re: New World Development 0017

Postby winston » Wed Jun 14, 2017 10:10 pm

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New World Development 新世界发展 (17 HK)

Residential property prices have risen over 160% since 2009 despite multiple rounds of cooling measures.

We forecast private housing demand of 21,000 units to exceed private supply of 18,000 p.a. for 2017-19, keeping an upward pressure on prices.

We like New World Development (NWD) as the company has reached 104% of its FY17 sales target of HK$10b.

The company is expected to achieve more than HK$13b attributable contract sales in Hong Kong in FY17, at least 30% higher than its sales target.

Also, the company would be the key beneficiary of the potential conversion of agricultural land into residential use.

NWD is trading at a deep 51% discount to NAV. We suggest a BUY recommendation with a target price of HK$13.14, pegged at a 40% discount to our NAV of HK$21.90/share.

Source: UOBKH

https://www.nwd.com.hk/
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Re: New World Development 0017

Postby winston » Sun Jun 24, 2018 8:47 pm

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New World Development bought back shares for the first time since December 2017 with two million shares bought on June 20 at an average of HK$11.46 each.

The buy-back was made after the stock fell by as much as 9 per cent from HK$12.42 on June 7.

The group previously acquired 9.46 million shares from September to December 2017 at an average of HK$11.38 each and 37.65 million shares from April to May 2000 at an average of HK$9.65 each.

The stock closed at HK$11.30 on Friday.

Source: SCMP
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