Market Chatter: New World Scion Adrian Cheng Steps Down from Family's Investment Firm

MT Newswires Live

Sep 04

Adrian Cheng, former chief executive officer of New World Development (HKG:0017), has resigned as a director of Chow Tai Fook Enterprises, further stepping back from his family's business empire, Bloomberg News reported Thursday.

Cheng left the private investment arm of the Cheng family on June 30, company registry records show, according to the report.

He stepped down last November as director of New World's K11 Group and K11 Concepts, and resigned from the board of New World Development in July.

His wife, Jennifer Yu Cheng, has also reportedly left the Cheng family's private education business, CTF Education Group.

The Cheng family is weighing a capital injection into New World by the year-end, Bloomberg reported earlier this week.

New World has been struggling with high debt in a prolonged property downturn, despite securing a $11 billion loan refinancing package earlier this year.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00017","symbol_name":"新世界发展","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2564134283","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2564134283","pubTimestamp":1756956485,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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