News Snapshot:
Hong Kong property developer New World Development (NWD) said lower rent income following a government plan allowing small firms to defer payments for up to six months will be offset by strong revenue in mainland China. The locally-listed developer’s interim underlying profit, excluding changes in the valuations of properties, rose 4.8 per cent from a year ago to HK$3.9 billion (US$499.4 million) for the six months to December, it said on Friday. Its revenue remained flat at HK$35.6 billion. It has proposed an interim dividend of HK$0.56 per share, same as a year ago. “I believe our lower rental income...
