No agreement has been reached with Airport Authority on 11 Skies: New World

New World Development (0017) said no agreement has been reached following a media report that the entertainment and retail part of its 11 Skies project at the airport had been taken over by the Hong Kong Airport Authority. 

There has also been no material developments to the matters set out in the January announcement, the developer said after making inquiries with its controlling shareholder Chow Tai Fook Enterprises.

New World has been in discussions with AAHK to revisit and explore any possibility for changes in the contractual arrangements relating to the 11 Skies project, it said in a filing on Thursday.

Such discussions are ongoing and no agreement has been reached, it said. 

The group will manage its financing arrangement with lenders as part of its ordinary course of business, and is not aware of any deadline for resetting its financing terms, the filing added.

 

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