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  1. EuroSibEnergo to use listing funds to repay U$1.1b in debt

    Posted Nov 20th 2010, 12:00am by Eric Ng

    ... Eric Ng EuroSibEnergo, the energy arm of Russian oligarch Oleg Deripaska's business empire, plans to use the bulk of the proceeds from its planned Hong Kong listing to repay a loan that will attract hefty interest charges in the next four years. The ...

  2. Wynn wins court battle with gambler over HK$30m debt

    Posted Feb 13th 2010, 12:00am by Staff Reporter

    ... Staff Reporter Wynn Resorts (Macau) has won its High Court action against high roller Henry Mong Hengli over a HK$30 million gambling debt. In giving judgment, Madame Justice Carlye Chu ... to be the first casino operator to attempt to recoup debts through the courts in either Macau or Hong Kong. Analysts and industry executives have said the implications of the outcome of the case could ...

  3. Listing panel to vet Rusal IPO as firm finalises debt restructuring

    Posted Nov 25th 2009, 12:00am by Howard Winn

    ... the restructuring of its US$7.4 billion debt with international banks- a key condition for securing the listing committee's approval for the share sale to go ahead. Russian oligarch Oleg Deripaska, the chief executive and controlling shareholder of Rusal, told the South China Morning Post last week that the debt restructuring had been agreed in principle and final agreement was still needed ...

  4. Gambling 'whale' says US$110m casino debts are really loans

    Posted Aug 27th 2009, 12:00am by Staff Reporter

    ... defaulted on gambling debts. He alleges the casinos plied him with alcohol and prescription drugs to keep him intoxicated while playing. He also claims that under the casinos' system ... to dismiss a grand jury indictment against him for writing 38 bad cheques to pay gambling debts of US$14.7 million. If successful, Mr Watanabe's move could prompt a rethink of the way that Las ...

  5. Sanjiu sells $937m in assets to repay debt

    Posted Sep 30th 2003, 12:00am by Mark O'Neill

    ... with the group in an effort to force it to repay the debts. Its annual interest payments are 470 million yuan. The debt is more than double the group's net asset worth, which was 3.73 billion yuan ... San Jiu Yi Yao spokesman Li Hao said the firm was working with its parent to sell assets to repay its debt, with 1.3 billion yuan already sold. 'Since the Sanjiu [Enterprise] Group ...

  6. Four-star hotel goes under hammer due to bad debt

    Posted Nov 19th 2003, 12:00am by Mark O'Neill

    ... of an order by a court to the group to pay back debts, in particular 200 million yuan (about HK$185.8 million), which it owes to the Industrial Bank. This month, the bank applied to the Shanghai city ...

  7. Mainland banks drive full speed into financing for new ships

    Posted Jan 13th 2011, 12:00am by Keith Wallis

    ... Keith Wallis Mainland banks are likely to have secured a record volume of ship finance deals last year as they supported Chinese and foreign shipowners with orders at Chinese shipyards while also competing in the global ship finance market. The top three ...

  8. Big hurdles still block yuan from going global

    Posted Oct 11th 2010, 12:00am by Enoch Yiu

    ... Enoch Yiu While top mainland and Hong Kong financial heavyweights and officials are closing ranks to praise plans to internationalise the yuan, bankers and brokers say big hurdles lie ahead before the yuan can become an international currency. China has b ...

  9. Finance chief assures minibond holders notes retain some value

    Posted Oct 30th 2008, 12:00am by Joyce Man

    ... of China (Hong Kong) said yesterday that its exposure to senior unsecured debts- securities that would get payment ahead of other unsecured debt if the borrower defaulted- had a carrying value ...

  10. China High Speed trips over risky hedging bet

    Posted Oct 24th 2008, 12:00am by Eric Ng

    ... Eric Ng The market continues to punish mainland companies with exposure to risky financial hedging investments, with China High Speed Transmission Equipment Group the latest in the line of fire. The Nanjing-based producer of gear transmission products for ...




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