Market Chatter: Banks Cut Margin Financing Ratio of New World Development

MT Newswires Live

Dec 24, 2024

Some banks have cut the margin financing ratio of New World Development (HKG:0017) to 30% over concerns regarding its financial status, The Standard reported Tuesday, citing media reports.

Bank of East Asia (HKG:0023) is said to have reduced the financing ratio for the developer's stocks and bonds to 30% from 40% beginning Dec. 20, the report said, citing the Hong Kong Economic Journal.

CMB International Securities also slashed the ratio of pledged New World stocks to 30%, according to the report.

New World's net debt to equity ratio was at 82.7% as of the end of 2023 compared with Henderson Land's (HKG:0012) 41.4% and Sun Hung Kai's (HKG:0016) 21.2%, The Standard reported, citing Bloomberg Intelligence.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999010078.USD","symbol_name":"UNITED ASIA PACIFIC REAL ESTATE INCOME (USDHDG) INC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2493399723","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2493399723","pubTimestamp":1735010228,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}