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  1. Business - Companies - ENERGY

    High debt burden stymies Sinopec's quest to buy parent's overseas assets

    Posted Aug 28th 2012, 12:00am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com Tight cash flow means the firm would have to borrow if it wants to buy parent's overseas assets, and this would push debt ratio too high High debt limits Sinopec's options China Petroleum & Chemical (Sinopec) is being constrained in its quest to buy its parent's overseas assets. Its high debt burden and tight cash flow amid adverse market ...

  2. News - Hong Kong - SURVEY

    Debt and personal loans on the rise, bank survey reveals

    Posted Sep 14th 2012, 12:00am by Phila Siu

    ... Phila Siu phila.siu@scmp.com 26pc surge in people taking out loans Almost one in three Hongkongers are in some form of debt, with about a quarter more people taking out personal loans in the first-half of the year compared with last year, a bank survey shows. The Citibank poll also found young people were more likely to pay in instalments when making purchases, Maggie Ng Leung Yuk-yee, ...

  3. News - Hong Kong - ADDICTION

    Easy loans are fuelling gambling debts, addiction charity Caritas warns

    Posted Sep 11th 2012, 12:00am by Patsy Moy

    ... Patsy Moy patsy.moy@scmp.com Nine in ten compulsive gamblers seeking help from addiction charity are debt-ridden Easy loans fuelling gambling debts, charity warns Betting addiction is on the rise in Hong Kong due to easy loans offered by banks and financial institutions, according to a group that helps compulsive gamblers. But the report from Caritas Addicted Gamblers Counselling ...

  4. 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 ...

  5. No quick fix for cancer of local government debt

    Posted Jun 27th 2012, 12:00am

    ... sectors, such as the local-government debt market, intervention doesn't seem like such a bad idea. After three decades of existence, local-government debt is showing every sign of spinning out of control. And it seems the central government has begun to fret over the chance that runaway local debt will eventually cripple its banking sector, with Beijing making an about-turn on a proposal ...

  6. Stanley Ho relative sues airline over HK$9m debt

    Posted Jun 26th 2012, 12:00am

    ... Austin Chiu austin.chiu@scmp.com A relative of Macau gaming tycoon Stanley Ho Hung-sun is suing Hong Kong Express Airways, an airline Ho partly owns, over a HK$9.8 million debt. In a writ filed with the High Court, Chan Ung Iok, sister of Ho's third wife, Ina Chan Un Chan, says the airline failed to repay the debt since last year despite her repeated requests. Chan states ...

  7. Beijing's level of debt casts doubt on credit rating

    Posted May 15th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Beijing faces a bumpy road ahead as it tries to wean itself from relying too heavily on investment to drive the economy, and as debt accumulated during ... a sovereign credit perspective, debt migration from the rest of the economy onto the government balance sheet was raising concerns. Apart from central government debt, contingent liabilities ...

  8. Glass firm first into the junk debt market

    Posted Jun 09th 2012, 12:00am

    ... debt at an annualised interest rate of 9.5 per cent on the Shanghai Stock Exchange. The bond offering will open the floodgates for thousands of small- and medium-sized companies to raise ... the riskier high-yield bonds since yesterday. The plan to launch the high-yield bonds- junk debt offered by lower-grade firms- was unveiled in February. China Securities Regulatory Commission (CSRC) ...

  9. Bank debt woes prompt insurance scheme plans

    Posted Jun 15th 2012, 12:00am

    ... insurance is a regular feature of the financial system to protect bank depositors from losses in the event of a bank failing to repay its debts. Commercial lenders are supposed to deposit a portion ...

  10. Ministry's massive debt tipped to get a lot worse

    Posted May 15th 2012, 12:00am

    ... Toh Han Shih hanshih.toh@scmp.com The Ministry of Railways' huge debt will continue to increase, and rising costs will hurt its profitability, a state credit rating agency warns. 'The debt of the railways ministry will continue growing because rail construction projects will still need debt financing,' Dagong Global Credit Rating said in its report ...




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