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  • July 10, 2014
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  1. Business - Comment - MONEY MATTERS

    Ma's grip on Alibaba all in the name of preserving its founders' culture

    Posted Jun 21st 2014, 12:40am by Shirley Yam

    ... of association states that the Alibaba Partnership, which holds 13.9 per cent, will nominate a simple majority of directors for shareholders to vote on. It will be a sure win because both SoftBank and Yahoo- holding 34.4 per cent and 22.5 per cent respectively- have agreed to vote along the same lines as the partners. Of course there is a good chance that SoftBank and Yahoo will eventually ...

  2. Business - Comment - MONEY MATTERS

    Ma's fancy footwork puts him on a winner with football play

    Posted Jun 07th 2014, 01:05am by Shirley Yam

    ... let's look at the banks. Every mainland banker is complaining about the pain Yu E Bao has caused them. The deposit scheme offered by Alibaba pays 15 times more interest than the banks do. ... in the name of risk control. Yet nothing happened to Yu E Bao. It continues to expand and accumulated more than 800 billion yuan within a year. The banks, after insisting that interest rates should ...

  3. Business - Comment - MONEY MATTERS

    Auditors just like drivers in the mind of China's Finance Ministry

    Posted May 31st 2014, 12:54am by Shirley Yam

    ... in mind of the finance ministry To understand Beijing's controversial proposal to bar foreign auditors from working on the mainland, a tale shared by a mainland bank director may help. It was late 2010. The Ministry of Finance ordered all banks and insurers to switch to a new auditor every five years. It is not difficult to imagine the concern this sparked among independent ...

  4. Business - Comment - MONEY MATTERS

    ICBC a laughing stock after inept effort to cook up orders

    Posted May 24th 2014, 01:09am by Shirley Yam

    ... stock after inept effort to cook up orders For an investment bank, getting caught by the regulator is bad enough, but what's even worse is being laughed at by your peers. The performance of Industrial and Commercial Bank of China in the cooking up of share orders for the public offering of Powerlong Real Estate Holding has prompted such laughter. After all, cooking up IPO orders ...

  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

    ... Citic Bank, which forms a significant chunk of Citic Group, is trading below its book value. Who will pay at book value for an IPO of Citic Group? An asset injection into Citic Pacific ... Exchange and four top state-owned banks. The second is those who are ready to suffer a short-term loss for a long-term return. To Citic Group, which has a place in almost every sector ...

  6. Business - Comment - MONEY MATTERS

    Tightly controlled scheme may see more than just a slow start

    Posted May 10th 2014, 12:43am by Shirley Yam

    ... into Hong Kong. For this to be possible, the money has to circulate in a closed loop. Once investors sell their stocks, the money will flow back to their home market bank accounts. This also makes ... Clear and banks in Hong Kong on a daily basis. If it is HK$1.25 to the yuan, you'd end up paying eight million yuan. A day later, Cheung Kong gains 2 per cent and you sell. How much you get ...

  7. Business - Comment - MONEY MATTERS

    Yuan anti-speculation drive brings ill wind from the north

    Posted Apr 05th 2014, 01:04am by Shirley Yam

    ... billion was invested in yuan-denominated products and entrusted loans with mainland banks. That was 30 times the amount in 2012. In short, Chengtong had betted heavily on yuan appreciation. Why ... directors considered the above arrangement would be a better utilisation of funds and could create a higher return to the group," the circular said. This greed had been well-fed by the banks ...

  8. Business - Comment - MONEY MATTERS

    Asking for a thing at the right time pays off for Citic Group

    Posted Mar 29th 2014, 01:10am by Shirley Yam

    ... the oil giants and banks did not manage to gain exemptions. To become a Hong Kong or overseas company is a dream for any mainland firm. It not only means they need far  fewer regulatory approvals and  less horse trading coupled with  higher efficiency and  the ability to do things that could not be done before. Managers at Citic Bank and Citic Securities are already buzzing about ...

  9. Business - Comment - MONEY MATTERS

    Trust product sounds great, so long as you don't ask questions

    Posted Mar 15th 2014, 01:50am by Shirley Yam

    ... Shirley Yam It promises high returns with big-name backing, but a scheme touted at Ping An Bank highlights murky world of mainland investment offerings Trust product sounds great, so long as you don't ask questions Yuan accounts with mainland banks that bear high interest rates are increasingly popular in Hong Kong. So are the pitches of various investment proposals e-mailed ...

  10. Business - Comment - MONEY MATTERS

    All honour and public service, plus the cash to go with them

    Posted Mar 08th 2014, 12:34am by Shirley Yam

    ... exchanges, banks, FTSE100 companies and HSI companies". There are no details on the formula and comparison employed by McLagan. The Intercontinental Exchange Group (ICE), which runs 23 regulated ...




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