Adrian Cheng Chi-kong, the executive vice-chairman of New World Development. If the developer has reached an agreement with the government in return for this farmland, ‘then we should be told what that is’, says activist investor David Webb. Photo: Tory Ho

Hong Kong developer New World’s farmland donation ‘destroyed shareholder value’, analysts say

  • It is about the company’s image, the developer counters as its stock posts biggest daily gain in two weeks
  • Financial impact of land gift ‘could be limited’, JPMorgan says
Topic |   Hong Kong property

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Adrian Cheng Chi-kong, the executive vice-chairman of New World Development. If the developer has reached an agreement with the government in return for this farmland, ‘then we should be told what that is’, says activist investor David Webb. Photo: Tory Ho
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