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2023
25
Aug
NWD Response to Unfounded Market Rumours
A spokesperson from New World Development stated that they noted that recent allegations made under a pseudonym about an unnamed property development group on social media may imply the company. The assertions, which including claims that the company has pledged its commercial projects as a form of alternative financing, are completely false and misleading. It is suspected that these allegations were made with the intention of manipulating the bond and equity trading of the company for personal gains. The company will therefore consider reporting the circumstances to the relevant law enforcement agencies and seek legal advice on potentially taking further actions.