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Case
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Reference no. 201-056-1
Subject category: Finance, Accounting and Control
Authors: Simon Chan (CLP Power Hong Kong Limited); Mandy Ho (EHL Hospitality Business School, HES-SO, University of Applied Sciences and Arts Western Switzerland); Kaimei Wang (Cambridge Judge Business School)
Published by: Asia Case Research Centre, The University of Hong Kong
Published in: 2001
Length: 16 pages
Topics: Financial analysis; EVA (economic value added); Capital costs; Diversified companies; Conglomerates
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Abstract

New World Development Company Limited (NWD) was a leading conglomerate based in Hong Kong. After more than 20 years of operations, the Group had expanded its core businesses to include property, infrastructure, services and telecommunications. From late 1997 to June 2001, the stock price performance of the company had been abysmal. Its efforts at asset disposals to reduce gearing, while making additional investments in new businesses, had confused investors. Security analysts also blamed the company for not keeping its promise to focus on its core business of property.
Location:
Hong Kong
Teaching note
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Reference no. 201-056-8
Subject category: Finance, Accounting and Control
Authors: Simon Chan (CLP Power Hong Kong Limited); Mandy Ho (EHL Hospitality Business School, HES-SO, University of Applied Sciences and Arts Western Switzerland); Kaimei Wang (Cambridge Judge Business School)
Published by: Asia Case Research Centre, The University of Hong Kong
Originally published in: 2001
Version: 09/11/2001
Length: 11 pages
View full details

About

Abstract

New World Development Company Limited (NWD) was a leading conglomerate based in Hong Kong. After more than 20 years of operations, the Group had expanded its core businesses to include property, infrastructure, services and telecommunications. From late 1997 to June 2001, the stock price performance of the company had been abysmal. Its efforts at asset disposals to reduce gearing, while making additional investments in new businesses, had confused investors. Security analysts also blamed the company for not keeping its promise to focus on its core business of property.

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Location:
Hong Kong

Related

Teaching note
-
Reference no. 201-056-8
Subject category: Finance, Accounting and Control
Authors: Simon Chan (CLP Power Hong Kong Limited); Mandy Ho (EHL Hospitality Business School, HES-SO, University of Applied Sciences and Arts Western Switzerland); Kaimei Wang (Cambridge Judge Business School)
Published by: Asia Case Research Centre, The University of Hong Kong
Originally published in: 2001
Version: 09/11/2001
Length: 11 pages
View full details