New World Shares Rally After CEO Pledges to Sell Non-core Assets
Shares of New World Development Co. rose the most in five months, after the company's chief executive officer pledged to cut costs and sell HK$26 billion ($3.3 billion) in assets.
Echo Huang, who took over as CEO in November, set out key measures to improve the company's cash flow in a media briefing on Friday, including plans to offload non-core assets, cut costs and improve rental returns.
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