Hopewell to sell off assets

TYCOON Gordon Wu Ying-sheung is preparing a massive sale of assets in an effort to bring Hopewell Holdings' debt down to zero.

Answering claims that debts were too high, the managing director said that next year he planned to sell off stakes in the first phase of the Guangzhou-Shenzhen-Zhuhai superhighway and his Bangkok elevated road and train project.

By selling a portion of the two projects, which he estimated to be worth as much as $40 billion, he could pay off a substantial portion of the $9.5 billion he will owe HSBC Holdings by the end of the year.