HONG KONG -- New World Development vowed on Friday to control costs and reduce the size of its debt as the Hong Kong and China-focused developer incurred hefty losses from property revaluation amid a challenging market.
Property
New World Development vows to reduce debt after posting $853m losses
Company says capex to be capped, no 'holistic debt restructuring'
Hong Kong property developer New World Development vowed to reduce debts after logging a net loss in the six months through December. © Reuters
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