Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CCBI Chops NWD's TP to $3.6 as Financial Risks Unresolved
Recommend 6 Positive 15 Negative 10 |
||||
|
||||
|
NEW WORLD DEV (00017.HK) has currently avoided a credit crunch, but financial risks remain unresolved, and its liquidity challenges may still impair its repayment ability, CCBI released a research report indicating. The broker cut its target price for the company from $6 to $3.6, with an Underperform rating remaining in place. The broker cited media reports as saying that the company has reached a consensus with most related banks to raise its net debt ceiling from 80% to 100%, and assigned US$15 billion worth of collateral to secure a three-year refinancing loan. Even though NWD has averted the credit crunch crisis, its financial difficulties are far from over. In the broker's estimate, NWD's assets and equity will plunge by $138 billion by FY25, leading to tighter net asset value, higher net debt ratio, and a higher loan-to-value ratio for bank loans. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
