New World Development’s donation of 3 million sq ft of farmland for public housing as well as to NGOs on Wednesday has led some analysts to say the company, Hong Kong’s fourth-largest developer, had harmed shareholders’ interest and breached its fiduciary duty.“Companies have a duty to their shareholders, to protect shareholder value and try to enhance it,” activist investor David Webb said in an interview. “They can’t just give away company assets without believing that, in some way, this will…
Source : South China Morning Post
Read more…Hong Kong developer New World’s farmland donation ‘destroyed shareholder value’, analysts say















