NDVLY New World Dev Co Ltd (PK)

   By Chester Yung 
 

HONG KONG--Property-to-infrastructure conglomerate New World Development Co.'s (0017.HK) Chairman Henry Cheng said Wednesday the company's operations haven't been affected by the hospitalization of company founder Cheng Yu-Tung.

"Since my father has retired (in March), he has no involvement in (the) company's operation. His admission to hospital has no impact on the company," said the younger Mr. Cheng, adding that his father's health doesn't weigh on the developer's share price.

The developer said last week Cheng Yu-Tung had been hospitalized.

Before stepping down in March, the elder Mr. Cheng--who remains a chairman emeritus--had served as company chairman for three decades, and continues to be widely respected for his sharp business insights.

Write to Chester Yung at chester.yung@wsj.com

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