New World Development: Capital Recycling And Dividends Limit Downside Risks [Seeking Alpha]
NEW WORLD DEV LTD S/ADR (NDVLY)
NASDAQ:AMEX Investor Relations:
nwd.com.hk/investor-relations
Company Research
Source: Seeking Alpha
Summary Contracted sales for New World Development's projects in Hong Kong and Mainland China will be closely watched, as they are leading indicators of the company's future property development earnings. The company continues to grow its recurring income streams in the medium-to-long term with a strong pipeline of new investment property projects, but the coronavirus outbreak poses near-term headwinds. Capital recycling is a key strategy to help New World Development enhance shareholder value, with HK$15 billion worth of non-core asset disposals targeted in the next 18-24 months. New World Development currently trades at 0.39 times P/B, and offers a consensus forward FY2020 (YE June) dividend yield of 5.5%. Elevator Pitch I maintain my "Neutral" rating on Hong Kong-listed property conglomerate New World Development Company Limited ( OTC:NDVLF OTCPK:NDVLY This is an update of my initiation article Readers are advised to trade in New World Development shares listed on the Hong Kong Sto
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