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21 Jul

New World Group Managing Director Dr Henry Cheng Honoured by the French Government for Outstanding Contributions to Sino-French Relations

On 18 July 2005, Dr Cheng Kar Shun, Henry, Managing Director, New World Development Company Limited ("New World Group" or the "Group"; Hong Kong stock code: 0017), was decorated with the Legion of Honour by the French Government for his outstanding contributions to Sino-French relations.

The New World Group and its French partner SUEZ began their long-standing cooperative relationship in 1985 by jointly investing in a water plant project in Macau. Sino-French Holdings (Hong Kong) Limited ("SFH"), a joint venture between the Group and SUEZ, now invests in 18 joint ventures in China for water production, industrial services and full services, with a total investment of over US$249 million, producing over four million cubic metres of water per day to more than 10 million people in various Chinese cities.

Celebrating its 20th anniversary this year, SFH has been an active investor in utility services in Mainland China and Macau, and played a key role in promoting economic cooperation between China and France.

Instituted in 1802 by Emperor Napoleon, the Legion of Honour is the highest civilian award given by the French Republic for outstanding service to France, regardless of the social status or the nationality of the recipients.