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New World Development has expanded a loan facility by around HK$1 billion ($127.45 million) and terminated operating rights for a shopping mall next to the Hong Kong airport, easing its cash crunch. The developer took a $2.3 billion charge for this termination.
New World Development has increased its facility agreement with Deutsche Bank to HK$4.9 billion from HK$3.95 billion, and separately announced the termination of its contractual agreements with an airport mall.