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  1. HSBC gambles on emerging markets

    Posted Aug 05th 2003, 12:00am by Staff Reporter

    ... Bank seeks to widen its businesses after the US$14.8b purchase of Household As HSBC continues to find ways to grow its global business, it faces a balancing act between the risk of new ... in the first half. Is Household a model for HSBC elsewhere? Sir John seemed to suggest that in his briefing yesterday. 'Strategically, we are building our business in those markets where ...

  2. Banks rally lifts index to fresh 27-month high

    Posted Nov 04th 2003, 12:00am by Staff Reporter

    ... Anette Jonsson The Hong Kong stock market gained for the sixth day in a row yesterday to reach a new 27-month high as liquidity in the market remained strong. Banking giant HSBC led ... market-capitalisation stocks, such as HSBC and China Mobile, was related to the strong rise in the Hang Seng Index futures, dealers said, noting that the November contract rallied 280 points yesterday, compared ...

  3. Household returns and exchange rate gains offset global downturn

    Posted Aug 05th 2003, 12:00am by Staff Reporter

    ... with good restructuring potential. In an apparent defence against such accusations, HSBC chairman Sir John Bond yesterday said: 'Household's contribution in its first three months ... Two recent acquisitions and exchange rate gains were the main drivers of banking giant HSBC Holdings' robust 25 per cent year-on-year surge in first-half net profit to US$4.1 billion, ...

  4. Banks facing mortgage write-offs

    Posted Jul 12th 2003, 12:00am by Raymond Ma

    ... with unsecured loans had edged up, but remained 'insignificant'. He said the default rate of restructured loans stood at about 1 per cent at HSBC. ... HSBC general manager Raymond Or Ching-fai said yesterday banks were likely to write off more bad debt from rising negative equity as property prices continued to plunge, but he ...

  5. Bus owners restructure holdings

    Posted Dec 10th 2003, 12:00am by Denise Tsang

    ... are restructuring the shareholding of the two bus companies and the next step will be dealing with overlapping bus routes,' he said. 'We will negotiate with the government and district councils about route restructuring and any decisions will require their approval.' Mr Cheng promised there would be no lay-offs among front-line staff. However, the company will offer voluntary ...

  6. Minister wins 'gold medal of disgrace' for sports restructuring plans

    Posted Nov 27th 2003, 12:00am by Peter Michael

    ... Peter Michael Protesters say that replacing the city's elite development body is an insult to staff Protesters yesterday bestowed a 'gold medal of disgrace' on a bemused Secretary for Home Affairs Patrick Ho Chi-ping amid an outcry over plans to restructure Hong Kong's elite sports body. About 40 staff of the Hong Kong Sports Development Board rallied outside ...

  7. Restructuring issues delay China Putian's dual listing

    Posted Oct 07th 2003, 12:00am by Staff Reporter

    ... been scaled back and delayed by restructuring issues, according to sources close to the transaction. China Putian's dual listing in Hong Kong and New York has been cut from US$2 billion-$3 ... restructuring plan, China Putian established a shareholding company with registered capital of 1.9 billion yuan for listing. The listed vehicle will incorporate portions of handset companies Ningbo ...

  8. China Life Insurance nearer to listing with restructuring move

    Posted Aug 29th 2003, 12:00am by Christine Chan

    ... China Life Insurance, the nation's biggest life insurer, has moved a step closer to a multibillion-dollar flotation in Hong Kong after wrapping up a restructuring that officially ... and operational standards to aid its drive to become globally competitive. The restructuring would be completed with the establishment of an asset management company, Mr Wang said. ...

  9. Philips in drive to restructure

    Posted Aug 25th 2003, 12:00am by Staff Reporter

    ... 270 factories to 150. The company posted large losses in 2001 and last year, prompting a series of restructurings. Philips had shed 50,000 jobs since mid-2001, through a mix of firings, ...

  10. PolyU staff to be consulted on pay restructuring

    Posted Nov 08th 2003, 12:00am by Linda Yeung

    ... Linda Yeung Government's budget cuts have university chiefs exploring options, including salaries and donations Polytechnic University will consult staff next month on a new remuneration package as a way to cope with the government's substantial ...




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