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  • October 22, 2014
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  1. Hang Seng profit up 14pc as bad debts rise

    Posted Jul 31st 2012, 12:00am

    ... Hang Seng Bank has reported better-than-expected growth in first-half net profit, but its bad-debt provision also rose substantially. The Hong Kong-based subsidiary of HSBC yesterday ... prudent].' Lee said Hang Seng had very little European sovereign debt exposure and had stopped investing in Europe. But a high bad-debt figure cast a cloud over the otherwise strong results. Bad ...

  2. Heavy debts no problem in Tianrui's HK debut

    Posted Dec 24th 2011, 12:00am

    ... Toh Han Shih hanshih.toh@scmp.com Despite its heavy debt burden, China Tianrui Group Cement got the thumbs-up from investors yesterday on its debut, with its share price soaring 22 per ... The company plans to use 95 per cent of its initial public offering proceeds to repay debts to JP Morgan and International Finance Corporation (IFC), a member of the World Bank, according to its ...

  3. HK stocks tumble on debt woes in Europe

    Posted Sep 20th 2011, 12:00am

    ... Hong Kong stocks tumbled to a two-year low yesterday as Europe's debt woes weighed heavily on equity investors after Greece pledged more austerity to avoid a default. At a weekend meeting, EU finance ministers failed to make progress on debt talks and postponed approval of a second tranche worth Euro8 billion (HK$85.9 billion) in a rescue package for debt-laden Greece. ...

  4. Hanking to use most of IPO funds to repay debts

    Posted Sep 30th 2011, 12:00am

    ... May Chan may.chan@scmp.com Cash-strapped mainland miner China Hanking Holdings plans to spend more than 90 per cent of its initial public offering proceeds on repaying loans. Yesterday, the firm fixed its offering price at HK$2.51, the bottom of its targe ...

  5. Debt crisis blunts taste for IPOs

    Posted Jul 16th 2011, 12:00am

    ... Amanda Lee amanda.lee@scmp.com The Hong Kong equity market extended its losses yesterday as concerns over the euro-zone debt crisis and the US budget stand-off eroded investor appetite ... when reports suggesting that Greece was close to a sovereign debt default roiled markets. Patrick Yiu Ho-yin, managing director at Cash Asset Management, said the Hong Kong stock market ...

  6. Dodgy loans stoke fears of debt crisis

    Posted Jun 28th 2011, 12:00am

    ... That is fuelling worries about a potential bad-debt crisis in the country's banking system. The National Audit Office uncovered 58 billion yuan (HK$69.7 billion) in questionable loans that were ... extended to companies, ostensibly for industrial projects, were in fact illegally invested in stocks. Bad Debts Bad money Questionable loans uncovered by the National Audit Office 2004 Agricultural ...

  7. Latest bond fund confirms trend for razor-thin yields on yuan debt

    Posted Apr 14th 2011, 12:00am

    ... not invest directly in the mainland but focus on yuan-denominated debt instruments, deposits and other instruments such as convertible bonds and commercial paper issued or distributed outside ...

  8. Beijing Capital issue aims to clear debt, send positive sign to market

    Posted Oct 28th 2010, 12:00am by Charlotte So

    ... Charlotte So Debt-laden Beijing Capital International Airport yesterday announced plans to issue five billion yuan worth of new H shares to its parent Capital Airports Holding, in a bid to pay off the debt resulting from the acquisition of Terminal 3. The acquisition was supposed to have been funded by a prolonged listing plan in Shanghai. Analysts see the share placement ...

  9. Subordinated debt may weigh on Bank of East Asia interim earnings

    Posted Aug 24th 2009, 12:00am by Staff Reporter

    ... expected a revaluation of its subordinated debt will likely determine its first-half earnings. The lender, traditionally the first of the Hong Kong banks to report its earnings, will release ... to post a fall of 62 per cent in interim profit partly due to a potential mark-to-market loss on its subordinated debt as credit spreads narrowed this year. 'Most of this mark-to-market loss ...

  10. Markets take a battering amid worries over Dubai's debts

    Posted Nov 28th 2009, 12:00am by Nick Westra

    ... to delay its debt repayments, becoming the latest casualty of the global downturn. The emirate said on Wednesday that Dubai World, a state investment arm, would ask lenders to postpone ... the Dubai debt problem is not expected to have a substantial impact on mainland lenders, it could influence Beijing's decision on whether monetary tightening is necessary. Reports ...




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