New World Development's K11 Musea shopping mall, part of the company's flagship Victoria Dockside development in Hong Kong's Tsim Sha Tsui district.

Shares of New World Development, controlled by Hong Kong’s billionaire Cheng family, dropped almost 6.5% on Monday after the debt-laden property developer deferred interest payments on several bonds, deepening investor concerns over its liquidity.

In a filing to the Hong Kong stock exchange on Friday, New World said it had postponed the coupon payments on two perpetual bonds due on June 9 and June 10. The company added that it plans to defer payments on two other bonds due later this month.

New World has been struggling to turn around its business amid an........

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