BUZZ-New World Development at 11-week peak on plan to raise cash flow, cut debt

Reuters03-03

** Shares of New World Development 0017.HK jump 15.6% to HK$5.57, their highest since December 18, and on course for fourth consecutive session of gains

** Stock on track for the biggest one-day pct rise since September 27; top pct gainer in Hang Seng Property Index .HSNP which rises 1.9%

** The Hong Kong developer said on Friday it would increase cash flow and cut debt as it reported an interim net loss of HK$6.63 bln ($852.6 mln)

** Co said it plans active property sales and diminishing capital expenditure, and reiterated it was not discussing a holistic debt restructuring plan

** Hang Seng Mainland Properties Index .HSMPI surges 2.9%, Hang Seng Index .HSI rises 1.5%

** Stock up 6.4% YTD, compared to 7.47% gain in Hang Seng Property Index

($1 = 7.7763 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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