A potential sale of 11 Skies, a mall located near Hong Kong’s international airport in Chek Lap Kok, could help New World Development (NWD) lighten its debt burden as the developer steps up efforts to divest noncore assets to overcome its worst financial crisis, according to UBS.
“Any successful disposal of 11 Skies could be a positive catalyst for NWD,” analysts at the Swiss bank said in a report on Thursday. The project “is embedded with contingent liabilities” of HK$1.8 billion (US$229.3…
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