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  1. Jail for loanshark gang mastermind

    Posted Apr 01st 2004, 12:00am by Sara Bradford

    ... Sara Bradford Syndicate raised $31 million by making victims pay interest rates of 2,400pc The mastermind behind a loanshark syndicate that raised more than $31 million by forcing victims to repay loans at interest rates of up to 2,400 per cent a year was ...

  2. Debt-for-equity probe may write down assets to zero

    Posted Nov 24th 2004, 12:00am by Staff Reporter

    ... Andrew K. Collier in Beijing The mainland has ordered an investigation into debt-for-equity swaps that could eventually lead to a massive write-off of overvalued assets in the banking system. The finance ministry and four government agencies are sending inspectors to examine the books of state-owned enterprises to uncover the extent of the debt-for-equity swaps ...

  3. BOC seeks to issue 60b yuan debt note

    Posted Feb 17th 2004, 12:00am by Christine Chan

    ... Christine Chan The Bank of China (BOC) is seeking approval to issue up to 60 billion yuan in subordinated debt this year as it recapitalises in preparation for an eventual listing next ... spokeswoman in Beijing yesterday said the lender was applying to the China Banking Regulatory Commission to issue between 50 billion yuan and 60 billion yuan in subordinated debt. Subordinated debt ...

  4. Asia Aluminum basks in demand for mainland debt

    Posted Dec 20th 2004, 12:00am by Staff Reporter

    ... and the rest went to Europeans- showing that demand for Chinese debt reaches well beyond the region. About 120 investors participated in the issue by the region's largest producer of processed ... to capitalise on this trend- one that has proven to be profitable- despite the fact it can take three to six months to put together a debt issue for a first-time borrower such as Asia Aluminum. Morgan ...

  5. A debt-free life

    Posted Apr 26th 2004, 12:00am by Sidney Sze

    ... Sidney Sze We need to know more about the concept of personal debt. To put it simply, 'debt is spending money that we do not have'. True financial freedom means leading a debt-free life. If you want to obtain goods or services, you need to pay immediately. In this era of rampant consumerism, when you don't have enough cash, you might ask your parents ...

  6. Gambling debt almost costs Shanghai man his kidney

    Posted Jul 09th 2004, 12:00am by Staff Reporter

    ... a moneylender who tried to force a man to sell a kidney to pay off a gambling debt, a local newspaper and a court official said yesterday. Gambler Lu Rongfeng was held hostage for more than 10 days ... took Mr Lu to a local hospital late last year to collect the debt. Doctors refused to perform the operation and Mr Lu managed to escape. Earlier this year, Shanghai media reported about alleged ...

  7. Luoyang Glass aids parent despite high debt

    Posted Apr 24th 2004, 12:00am by Denise Tsang

    ... Denise Tsang H share Luoyang Glass continued to support financially its state-owned parent and subsidiaries last year, despite provisions for related bad debts surging nearly fourfold ... suffered heavily after incurring debt exposure to their parents. 'Luoyang Glass is a typical example of companies which do not operate independently in the form and the substance,' said ...

  8. Families in Shanghai, Beijing lead debt stakes

    Posted Nov 06th 2004, 12:00am by Mark O'Neill

    ... by a researcher at the Chinese Academy of Social Sciences, who discovered that the soaring cost of housing has pushed the average family in Shanghai and Beijing deeper in to debt than their counterparts in New York and Washington. Defining family debt ratio as debt as a proportion of disposable income, researcher Liu Jianchang found that the average family in Shanghai had a debt ratio of 155 per ...

  9. Insurers can invest more in banks' bonds, debt

    Posted Jul 02nd 2004, 12:00am by Staff Reporter

    ... subordinated debt, to expand investment options and help recapitalise the country's lenders. The move has prompted concern pressure to support government plans to clean up the banking sector may ... in untraded fixed-term bank subordinated debt was doubled to 2 per cent of an insurer's total assets. Insurers in China can also buy bank subordinated bonds, which can be offered in the interbank ...

  10. GE gets mainland support for yuan debt issues

    Posted Feb 27th 2004, 12:00am by Staff Reporter

    ... to explore the possibility of issuing yuan debt to fund expansion of its mainland financial services businesses, according to GE executives. GE, the world's biggest company by market value, ... With US$51 billion in bonds sold last year in 14 currencies, GE previously deemed chances of a yuan debt issue slim as the mainland's small and underdeveloped corporate bond market was mainly ...




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