HONG KONG -- The race to lead the Cheng family conglomerate of Hong Kong is now in full swing, as four siblings have attained prominent roles in the business empire, just when the group's core development arm is set to book its first annual loss in two decades.
Property
Sibling succession race heats up at Hong Kong's Chow Tai Fook group
Chengs compete as key property unit New World Development sinks into red
New World Development's $11 billion loan refinancing package includes multiple tranches of bank loans with different maturities. (Photo by Masayuki Kozono)
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