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UBS Group has recently stopped accepting certain bonds and shares of Hong Kong property developer New World Development as collateral for margin loans, following similar actions by Citigroup and HSBC. The company, owned by billionaire Henry Cheng, has faced governance issues and reported an annual loss in 2024, compounded by a significant debt of HK$199 billion.
UBS has ceased accepting certain bonds and shares of Hong Kong's New World Development as collateral for loans, following similar actions by Citigroup and HSBC. The company, facing governance issues and a record debt of 199 billion Hong Kong dollars, reported a full-year loss in 2024. CEO Adrian Cheng stepped down in September, with his successor resigning shortly after.
UBS has ceased accepting certain bonds and shares of Hong Kong property developer New World Development as collateral for margin loans, following similar actions by Citigroup and HSBC. The company, facing governance issues and a significant annual loss in 2024, has the highest debt among its Hong Kong peers at HK$199 billion.
UBS has suspended margin loans on certain securities of New World Development, which is facing governance challenges following the resignation of CEO Adrian Cheng and his successor Eric Ma. The company reported an annual loss in 2024 and holds the highest debt among its Hong Kong peers at HK$199 billion ($25.61 billion).
UBS has halted margin lending on certain securities of Hong Kong property developer New World Development, following similar actions by Citigroup and HSBC. The company, facing governance issues and a significant debt of HK$199 billion, reported an annual loss in 2024. Heir Adrian Cheng recently stepped down as CEO, with his successor resigning shortly after.
UBS has ceased margin lending on certain securities of Hong Kong property developer New World Development, following similar actions by Citigroup and HSBC. The company, facing governance issues and a significant annual loss in 2024, has the highest debt among its peers at HK$199 billion.
Eric Ma, the CEO of New World Development Co., is set to resign after just two months in a tumultuous leadership period for the Hong Kong property developer. An official announcement regarding his departure is anticipated as early as Friday afternoon, according to sources familiar with the situation.
Eric Mabius
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs halts margin loans on new world development securities amid governance issues
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09:14 21.01.2025
ubs halts margin loans on new world development securities amid governance issues
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New World Development Co. Ltd.
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09:08 21.01.2025
ubs halts margin loans on new world development securities amid governance issues
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JPMorgan Chase & Co.
UBS Group AG
HSBC HOLDINGS
Citigroup Inc.
HKG
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09:08 21.01.2025
ubs suspends margin loans on new world development amid governance issues
09:08 21.01.2025
ubs halts margin lending on new world development securities amid governance issues
Hong Kong Dollar
JPMorgan Chase & Co.
UBS Group AG
HSBC HOLDINGS
Citigroup Inc.
HKG
Henry Cheng
Adrian Cheng
Eric Mabius
Show more
09:08 21.01.2025
ubs halts margin lending on new world development securities amid governance issues
Hong Kong Dollar
JPMorgan Chase & Co.
UBS Group AG
HSBC HOLDINGS
Citigroup Inc.
HKG
Henry Cheng
Adrian Cheng
Eric Mabius
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09:05 21.01.2025
new world ceo eric ma to resign after two months in office
06:43 29.11.2024
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