New World Development Company Limited (“New World Group” or “the Group”; Stock Code: 17.HK) has received an honour in the Social Empowerment category of the Asia Responsible Entrepreneurship Awards (AREA) 2015 with the New World Springboard sustainable community programme. Organised by Enterprise Asia, AREA recognises businesses and individuals for championing sustainable and responsible entrepreneurship.
Through New World Springboard, the Group improves social mobility by providing under-resourced youths with up to seven years of professional sports training. As at 31 March 2015, a total of 79,300 hours of training has been offered to 400 programme participants across six under-resourced districts in Hong Kong, helping talented basketball and swimming enthusiasts develop their full potential. The award is a testament to the Group's continuous contribution to society.
The annual award honours Asian businesses for excellence in sustainable and responsible entrepreneurship in six categories: Social Empowerment, Investment in People, Green Leadership, Health Promotion, SME Corporate Social Responsibility and Responsible Business Leadership. Through AREA, Enterprise Asia aims to promote ethical and fair business practices, as part of a sustainable entrepreneurial framework. The Social Empowerment Award recognises businesses for promoting empowerment of communities or individuals that are socially excluded. This year, AREA received over 300 entries from 14 countries.
New World Development Company Limited
Founded in 1970, New World Development Company Limited (“New World Group”, Stock Code: 17.HK) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A diversified holding company with a focus on property development, New World Group’s core business areas include property development, infrastructure and service, department stores and hotels. As at 31 December 2014, the total asset value of the Group amounted to HK$378.5 billion.
As at 30 June 2014, the Group has an effective interest of approximately 61.3% in NWS Holdings Limited (Stock Code: 659.HK), approximately 69.7% in New World China Land Limited (Stock Code: 917.HK) and approximately 72.3% in New World Department Store China Limited (Stock Code: 825.HK).