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  • November 28, 2014
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  1. HSBC chairman defends global expansion, rejects break-up call

    Posted Jun 29th 2009, 12:00am by Naomi Rovnick

    ... headquarters to Hong Kong but would continue growing in Asia, Mr Green said. Suggestions by the Bank of England and some British politicians that very large banks should carve up their deposit ... to the American law forbidding deposit-taking banks to trade investments that lasted from 1933 to 1999. Mr Green said it was unlikely that Britain would call for banks to be broken up. In his personal ...

  2. Minibond decision heartens investors similarly burned

    Posted Jul 24th 2009, 12:00am by Enoch Yiu, Naomi Rovnick

    ... Naomi Rovnick and Enoch Yiu The watershed decision forcing banks to pay more than HK$6 billion compensation to Lehman minibond victims has given hope to thousands of investors burned in meltdowns of similar structured products. The Securities and Futures Commission (SFC) ordered 16 banks, including Bank of China (Hong Kong) and Bank of East Asia, to return up to 70 per cent ...

  3. ETFs have lots to like, but be sure to read the fine print

    Posted Mar 15th 2009, 12:00am by Naomi Rovnick

    ... in HSBC's vaults in London. SPDR's prospectus discusses this in more detail. Any fund that holds only shares is similarly low-risk. ETFs that buy shares will deposit them with a custodian bank ... and Lyxor (part of French bank Societe Generale), have gradually introduced more. But Hong Kong still does not offer ETFs tracking the full range of emerging markets or commodities. There are China, ...

  4. Liquidators suing Akai auditors for negligence

    Posted Sep 05th 2009, 12:00am by Naomi Rovnick

    ... cash from Akai's bank accounts. To cover up the alleged theft, it is claimed, Ting inserted a fake Bankers Trust account into Akai's ledger. Then he made it look like cash deposits were going into the false account. Instead, the liquidators will allege, the money 'deposited' into the false bank account went straight into Ting's pocket. Akai's books ...

  5. Octave Notes a leap into the unknown for investors

    Posted Jun 07th 2009, 12:00am by Enoch Yiu, Naomi Rovnick

    ... Naomi Rovnick, Enoch Yiu and Maria Chan Last October, Wang Wu, a 58-year-old Hong Kong housewife, had a stroke. A few weeks earlier, US investment bank Lehman Brothers had collapsed, taking US$90,000 of the Wang family's life savings down with it. The irony was that the Wangs never invested in Lehman Brothers, not even in the bank's now-infamous minibonds. Instead, ...

  6. Resources magnate mines China links in IPO plan

    Posted Nov 23rd 2009, 12:00am by Naomi Rovnick

    ... of Palmer's vast, but as yet un-built, mining ventures, a coal mine in Queensland's Gallilee Basin and an iron ore deposit in the Pilbara, Western Australia. The projects need a combined US$7 billion of funding, according to research by Macquarie, one of the investment banks on the initial public offering, and will not produce income- meaning investors have no chance of dividends- ...

  7. Australian mining boss to tap HK market

    Posted Sep 11th 2009, 12:00am by Naomi Rovnick

    ... resources assets. The company, to be named Resourcehouse, would hold a selection of Palmer's mining interests, including iron ore deposits and coal mines in Western Australia, sources briefed ... Billiton in July, and is the largest shareholder of miner Australasian Resources Holdings. Sources said these assets were unlikely to form part of Resourcehouse. Palmer has tapped investment banks ...

  8. HSBC's numbers man reassures the faithful

    Posted Mar 16th 2009, 12:00am by Naomi Rovnick

    ... and bailouts have replaced takeovers, chief financial officers have become the most important figures in banking boardrooms. And no finance director is more important to Hong Kong investors than HSBC ... demeanour than Mr Flint. The middle-aged executive speaks carefully and reasonably, projecting solidity and calm. Refreshingly, he does not sing the bank's praises when praise is undeserved. ...



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