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  1. HSBC sets aside US$3.29b for US finance unit

    Posted May 13th 2008, 12:00am by Staff Reporter

    ... in the first quarter from 11.2 per cent, while other consumer lending rose to 5 per cent from 4.2 per cent. HSBC Finance has restructured 1,500 housing loans with an aggregate balance of about US$270 ... Maria Chan HSBC Holdings made an impairment charge of US$3.29 billion for its consumer finance unit in the United States in the first quarter but the management stopped short of saying ...

  2. HSBC posts 8.4pc earnings decline in HK

    Posted Aug 05th 2008, 12:00am by Staff Reporter

    ... 6.1 per cent in June, an 11-year high. 'Inflation is particularly an issue of concern for HSBC, as the bank is still undergoing a restructuring in Hong Kong,' said Peter Pak, ... Natalie Chiu Half-year profit drops first time in 5 years on write-downs, rising staff costs and rents HSBC Holdings' Hong Kong operation, which accounted for 30 per cent of British ...

  3. HSBC mulls US acquisitions amid subprime mortgage woes

    Posted Apr 02nd 2008, 12:00am by Staff Reporter

    ... Maria Chan HSBC Holdings, the global lender haunted by US subprime mortgage woes, has indicated that it has no plans to pull out of the US market and may even make acquisitions there. ... added. Knight Vinke Asset Management, an activist HSBC shareholder, reiterated last weekend that the bank should spin off HSBC Finance, its US consumer finance unit with heavy exposure ...

  4. DBS shares slide to five-year low

    Posted Oct 24th 2008, 12:00am by Joyce Man

    ... in Singapore and Hong Kong. The bank is the largest in Singapore by assets. Meanwhile, two financial institutions expressed interest in restructuring Lehman Brothers minibonds in Singapore and letting them run to maturity, the country's central bank said. The trustee for the notes, HSBC Institutional Trustee Services (Singapore), informed the Monetary Authority of Singapore on Wednesday ...

  5. Techtronic taps banks for loan refinancing

    Posted Jun 09th 2008, 12:00am by Staff Reporter

    ... Wong Ka-chun Techtronic Industries, the maker of Ryobi power tools, is revisiting the debt market to raise a three-year syndication loan to refinance a borrowing drawn in 2005. HSBC ... said. The firm had said net profit last year fell 88.3 per cent to HK$125 million because of an exceptional loss of HK$743 million for restructuring. Because of the poor US housing market, ...

  6. Banks ask trustee for minibond clarity

    Posted Dec 05th 2008, 12:00am by Staff Reporter

    ... a public announcement on the buy-back in the middle of last week, the source said. However, they were forced to stop because the trustee, HSBC Bank USA, National Association, received a letter from ... that it would be proper. However, as HSBC Bank USA was incorporated under US law, the challenge by Lehman Brothers' liquidator had complicated the matter. 'No one can say for sure who is right ...

  7. Central Huijin to move shares in Bocom to Ministry of Finance

    Posted Mar 27th 2008, 12:00am by Staff Reporter

    ... resources', Bocom said in a statement to the Hong Kong stock exchange. But analysts expect the move will make way for additional share purchase by strategic shareholder HSBC Holdings, which holds ... to acquire or restructure our assets,' the spokesman said. Huijin is a special vehicle set up by the government in 2003 to manage capital injections into state-owned banks and other smaller ...

  8. Sunac reduces share sale target to US$200m

    Posted Jul 21st 2008, 12:00am by Yvonne Liu

    ... of the offering as a result of group restructuring and worsening market sentiment. Sunac had mandated Deutsche Bank to advise on the offering, another source said. Its chairman, Mr Sun, declined ... estimated NAV. As part of its restructuring, Sunac in December last year raised US$200 million by selling a stake to Lehman Brothers, sources said. The United States investment bank now owned about ...

  9. Barclays targets stake in mainland lender

    Posted Mar 14th 2008, 12:00am by Tom Miller

    ... that has yet to be reformed. Plagued by poor asset quality and non-performing loans, ABC would represent a gamble. But with it expected to seek a public listing once it restructures, buying cheap ... Charlene Chu at Fitch Ratings in Beijing. Barclay's British rivals HSBC and Royal Bank of Scotland have taken an aggressive approach in the mainland market. HSBC has a 19 per cent stake ...

  10. Appointments

    Posted Jan 21st 2008, 12:00am by Staff Reporter

    ... of intermediaries HSBC Mr Hung will be responsible for managing the intermediaries business for Greater China and South Korea, with a focus on the expansion of HSBC's franchise and third-party retail ... finance and other cross-border financial transactions in Asian jurisdictions. She also has significant experience in private corporate debt restructuring. Todd Abrahall Vice-president, specialist ...




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