(15 August 2019, Hong Kong) NWS Holdings Limited (“NWS” or the “Group”; stock code: 659) announces that it has disposed several non-core businesses in the year ended 30 June 2019 (“FY2019”) at a total consideration amounted to approximately HK$1.3 billion. These disposals included a parking management company operating in the Mainland, the minority interests in two port projects in the Mainland, and a reduction in the interests held in Beijing Capital International Airport Co., Ltd (“BCIA”).
In FY2019, the Group actively implemented its development strategy of optimizing the business portfolio, where non-core businesses have been disposed to unlock value and enhance resource efficiency. During the period, the Group has disposed Urban Parking (Beijing) Limited, as well as its 24.5% shareholding interest in Tianjin Orient Container Terminals Co., Ltd and the 18% shareholding interest in Tianjin Five Continents International Container Terminal Co., Ltd. Together with the reduction of its interest in BCIA and other assets, the businesses and assets which have been disposed amounted at a total consideration of approximately HK$1.3 billion
Core businesses such as toll roads and aircraft leasing have been providing the Group with recurring and strong cash flow. The Group has also been actively identifying acquisition opportunities of projects with exciting growth potential and strong cash flow, in order to further strengthen the long-term development of its core businesses.
Goshawk Aviation Limited (“Goshawk”), the aircraft leasing platform under the Group, is also expanding rapidly. Following the completion of the acquisition of Sky Aviation Leasing International Limited in September 2018, in June this year, Goshawk also completed its inaugural ABS (Asset-Back Securitization) issuance, raising US$643.6 million (HK$5.02 billion) to venture into aircraft management business and open up new income sources, thereby laying a solid foundation for its further development.
NWS will continue to optimize its business portfolio and seek new investment opportunities to strengthen its core business development, with a view to maximize shareholder interests and enhance investment value of the Group.
- END -
NWS Holdings Limited (“NWS Holdings”, Hong Kong stock code: 659) is the infrastructure and service flagship of New World Development Company Limited (Hong Kong stock code: 17). It has diverse businesses and investments predominantly in Hong Kong and Mainland China, comprising toll roads, environmental management, port and logistics facilities, rail container terminals, commercial aircraft leasing, facilities management, healthcare services, construction and public transport. Please visit www.nws.com.hk for details.
For further information, please contact: