New World Development drops after company to defer coupon payments
HONG KONG :Shares of New World Development dropped as much as 9.8 per cent after the Hong Kong property developer said it would defer coupon payments scheduled for June on perpetual bonds, casting further liquidity concerns for the cash-strapped firm.
The shares fell to HK$4.32 ($0.5508) each, their lowest since April 9. That compared to a 1.9 per cent fall in benchmark Hang Seng Index.
($1 = 7.8428 Hong Kong dollars)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Independent Singapore
2 hours ago
- Independent Singapore
Netizen calls Meta's AI tool for advertisers a ‘waste of time and space' amid launch plans next year
Photo: Depositphotos/askarimullin SINGAPORE: Meta Platforms, which has over 3.4 billion active users globally, plans to roll out artificial intelligence (AI) tools by the end of 2026 that will allow brands to create advertisements by providing only a product image and a budget, the Wall Street Journal reported on Monday, citing sources familiar with the matter. They reportedly said that Meta's AI would then generate the entire ad, including images, videos, and text, decide which users on Facebook and Instagram to target, and offer suggestions on budget. The report noted that Meta also plans to allow advertisers to customise ads with AI, allowing them to see varied versions of the same ad in real time, tailored by factors like their location. However, many users were far from impressed. One called the move a 'waste of time and space,' saying, 'Maybe two times in my lifetime I saw an advertisement on my phone and was interested in buying whatever it was.' Another questioned, 'Does advertising actually work or are they so desperate to sell stuff they'll try anything?' Yet another pointed out that 'half the ads are scams right now.' Meanwhile, one commenter said, 'I'll just keep blocking.' Reuters reported that Meta, the parent company of Facebook and Instagram, pointed to CEO Mark Zuckerberg's recent remarks about providing advertisers with AI tools that deliver 'measurable results at scale' soon, when contacted for comments. The company also plans to create an 'AI one-stop shop' where businesses can set goals, control budgets, and let the platform manage logistics. Other social media companies like Snap, Pinterest, and Reddit are boosting their AI efforts to compete for advertisers. Meanwhile, tech giants Google and OpenAI have introduced AI tools for video and image generation, but many marketers remain cautious due to concerns over brand safety, creative control, and quality. /TISG Read also: Nintendo Switch 2 released in Singapore earlier than expected, but some gamers say they'll wait for prices to drop Featured image by Depositphotos (for illustration purposes only)
CNA
3 hours ago
- CNA
SATS managing ongoing trade uncertainty by focusing on its customers: CEO Kerry Mok
As trade tensions continue to cast a shadow on the air freight industry, SATS CEO Kerry Mok said the Singapore-based cargo handling company is staying nimble and focusing on customers. He was speaking on the sidelines of the Air Cargo Europe trade fair in Munich. SATS — the world's biggest provider of air cargo handling services — plans to invest S$250 million to expand capacity and upgrade its fleet over the next five years. Ross Cullen reports.
CNA
3 hours ago
- CNA
Democratic Party's Lee Jae-myung set to be South Korea's new president, exit polls show
Vote counting for South Korea's presidential election is underway, after months of political turmoil. The Democratic Party's Lee Jae-myung is projected to win by a landslide, with a joint exit poll by major broadcasters showing him with about 52% of the vote. Millions turned up in force to over 14,200 polling booths, with turnout rising past 77% and hitting a record high as of 7pm local time. Young voters are likely to be a decisive force in shaping South Korea's political future. Those in their 20s and 30s have formed a powerful bloc this election, energised by last December's martial law crisis. Lim Yun Suk and Grace Shin report.
