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  • October 24, 2014
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  1. Comment - Insight & Opinion - LEADER

    SFC's legal action against Citic a reassuring sign

    Posted Sep 25th 2014, 05:14am by SCMP Editorial

    ... compensate investors and safeguard Hong Kong's reputation for a level playing field. But in the case of state-backed conglomerate Citic's failure to disclose more than HK$15 billion of foreign-exchange losses in a market circular, it has taken six years. At the eleventh hour, before the statute of limitations blocked any civil action, the Securities and Futures Commission filed a case ...

  2. Business - Companies - MONEY MATTERS

    SFC action hands ex-Citic Pacific directors a get-out-of-jail-free card

    Posted Sep 13th 2014, 04:47am by Shirley Yam

    ... failing to secure a rescue from Beijing. Yet, unlike Citic, its directors were charged six months after the disclosure. Ten months later, chief executive Chen Jiulin was sentenced to four years ... Shirley Yam A criminal case against Citic Pacific directors who oversaw huge losses would be far harder for the authorities to pursue than civil action SFC action hands former Citic chiefs ...

  3. Business - Comment - LAI SEE

    SFC's civil action against Citic is a good first step

    Posted Sep 13th 2014, 04:47am by Howard Winn

    ... Howard Winn The decision by the Securities and Futures Commission to take action against Citic comes as a welcome surprise. It's welcome because this case has been hanging around ... alleges that Citic, or Citic Pacific as it was then called, and five directors including former chairman Larry Yung Chi-kin, engaged in market misconduct involving disclosure of false ...

  4. Business - Comment - LAI SEE

    Citic Securities land purchase in Shenzhen stirs CLSA

    Posted Feb 08th 2014, 05:12am by Howard Winn

    ... Howard Winn There was some interest among CLSA staffers recently following an announcement by Citic Securities on the Hong Kong stock exchange website. It says Citic has spent 3.5 billion yuan (HK$4.4 billion) buying a plot of land in Shenzhen which will be developed as the "Citic Securities Shenzhen headquarters base project". The site is an enormous 31,463 square ...

  5. Business - Comment - MONEY MATTERS

    Citic Pacific's acquisition of Citic Group is merely state sleight of hand

    Posted May 17th 2014, 01:56am by Shirley Yam

    ... deposit to enhance the country's supply security, Citic Pacific is in dire financial straits. With iron-ore prices falling further and a money pit in sight, shareholders can easily accept ... are to churn out HK$39.8 billion to take over 80.5 per cent of Citic's share placement. Among them are the National Social Security Fund, the investment arm of the State Administration of Foreign ...

  6. Comment - Blogs - CORPORATE FINANCE

    China M&A finance goes global with CNOOC, Citic Securities

    Posted May 06th 2013, 11:36am by Doug Young

    ... Doug Young New mega bond offers by Citic Securities and CNOOC indicate foreign investors may be increasingly willing to help Chinese firms finance their global M&A. An interesting new trend has major Chinese firms financing their global expansions with mega bond offerings, with leading brokerage Citic Securities ( 6030 .HK; Shanghai: 600030) and oil exploration giant CNOOC ...

  7. Comment - Blogs

    CITIC Securities Results: Set for Rebound?

    Posted Aug 31st 2012, 09:27am by Doug Young

    ... Doug Young CITIC Securities results hint that China's stock market downturn could be near an end, with a better than 50 percent chance of a sustained rally starting by year end. ... CITIC Securities (6030.HK, Shanghai: 600030) hint that a rebound could be coming towards the end of the year, as bargain hunters-- led by a growing number of foreign investors-- start to pour ...

  8. Business - Comment - LAI SEE

    Sino Iron fiasco has Clive Palmer changing his attitude to China

    Posted Aug 23rd 2014, 01:03am by Howard Winn

    ... with the dignity they deserve". However, his view has evidently soured. This is almost entirely to do with Hong Kong-listed Citic Pacific's Sino Iron project in Western Australia. In 2006, Palmer sold Citic the right to mine magnetite iron ore in the Pilbara region in exchange for royalty payments. Citic agreed to build the infrastructure, but the "deal of the century", ...

  9. Business - Companies

    Big names line up to invest in Citic

    Posted May 16th 2014, 11:41am by Doug Young

    ... The investment group also includes several major domestic Chinese buyers, led by the nation's social security fund, which is providing $2.2 billion. Citic first announced the backdoor listing plan ... services that are more commercially-oriented than many of China's traditional state run banks and brokerages. Those assets will include Citic Securities (6030.HK), China's largest ...

  10. Comment - Insight & Opinion

    Systemic overhaul of securities law can liberalise China's capital markets

    Posted Oct 15th 2014, 12:30pm by Hu Shuli

    ... Hu Shuli Hu Shuli says comprehensive revision, part of the broader reform agenda,should improve market mechanisms and reduce regulation Systemic overhaul of securities law can help liberalise China's capital markets China's securities law is to undergo a comprehensive revision- almost a decade after the last major overhaul. Public consultation is due to start ...




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