May 30 (Reuters) - Hong Kong property developer New World Development0017.HK said on Friday it would defer coupon payments scheduled for June on perpetual bonds, casting further liquidity concerns for the cash-strapped firm.
The builder said it had deferred coupon payments on two perpetual securities due on June 9 and 10, respectively, ahead of a deadline to notify bondholders of the deferral.
It also plans to defer payments on two more bonds due later in the month, it said.
"The company continues to manage its overall financial indebtedness whilst taking into account the current market volatility and continues to comply with its existing financial obligations," New World said in a separate statement.
Financial markets are closely watching the firm's attempts to increase cash flow as any deepening of its debt problems could trigger a crisis reminiscent of the one in mainland China that started in 2021 and led to scores of company defaults.
The company has said it plans active property sales and diminishing capital expenditure, and is not considering a holistic debt restructuring plan.
(Reporting by Aaditya Govind Rao in Bengaluru and Clare Jim in Hong Kong; Editing by Anil D'Silva)
((Aaditya.GovindRao@thomsonreuters.com;))
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