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  • July 13, 2014
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  1. Business - Money - MARKETS

    Hong Kong fund houses bypass brokers as fund size hits HK$16 trillion

    Posted Jul 09th 2014, 05:19am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Fund houses pass brokers as managed assets grow The number of fund houses in Hong Kong surpassed the number of brokerage firms in May as the size of locally managed funds hit a record HK$16 trillion, data released yesterday by the Securities and Futures Commission (SFC) revealed. SFC deputy chief executive Alexa Lam Cheung said the strong growth had ...

    http://www.scmp.com/business/money/markets-investing/article/1549931/hong-kong-fund-houses-bypass-brokers-fund-size-hits
  2. News - Hong Kong - POLITICS

    Slow progress to clear HK$6.8b funding requests to Legco Finance Committee

    Posted Jul 11th 2014, 04:56pm by Tony Cheung

    ... the meeting closed at 9.10pm, the committee had approved only the first six funding requests on its agenda. They included a hotel development project for Disneyland and cash for building a home ... items on the agenda- to be passed before the summer recess. But this means 13 other funding requests scheduled after the landfill plans will have to wait for the new session in October. ...

    http://www.scmp.com/news/hong-kong/article/1551993/gridlock-pan-dems-block-disputed-projects-government-blocks-fast
  3. News - Hong Kong - POLITICS

    Finance Committee unlikely to clear funding backlog amid political stalemate

    Posted Jul 11th 2014, 03:55am by JEFFIE LAM

    ... Jeffie Lam jeffie.lam@scmp.com Lawmakers unlikely to approve a backlog of requests before end of current session as they refuse to agree on how they should be handled Funding locked ... to their opposing views on how remaining funding requests should be handled. The committee today holds its last meeting before the summer recess with a backlog of more than 40 requests still on the table. ...

    http://www.scmp.com/news/hong-kong/article/1551409/funding-locked-stalemate-over-agenda
  4. News - Asia - PHILIPPINES

    Benigno Aquino refuses resignation of aide over fund scandal

    Posted Jul 11th 2014, 10:07pm by Reuters

    ... Reuters in Manila Aquino aide offers to quit over fund scandal Philippine President Benigno Aquino yesterday rejected a resignation offer from his budget secretary after the top court declared the government's discretionary fund illegal in the biggest test yet for its battle against graft. Aquino came to power in 2010 on the promise of transparency, good governance ...

    http://www.scmp.com/news/asia/article/1552286/benigno-aquino-refuses-resignation-aide-over-fund-scandal
  5. News - China - WILDLIFE

    Environmentalists get claws into plans for Qatari-funded falcon-breeding centre in China

    Posted Jul 11th 2014, 06:20pm by Laura Zhou in Beijing laura.zhou@scmp.com

    ... today. The US$15 million centre, which is still being built in Aletai, in the far-west of Xinjiang, is using funds provided by a Qatari ecological and bird conservation association. News ...

    http://www.scmp.com/news/china/article/1552043/environmentalists-get-claws-plans-qatari-funded-falcon-breeding-centre
  6. News - Hong Kong - MEGA EVENTS

    HK$250m Mega Events Fund bungling is 'inexcusable', say lawmakers

    Posted Jul 09th 2014, 03:55pm by JENNIFER NGO AND JOYCE NG

    ... Jennifer Ngo and Joyce Ng 'Grave dismay' as lawmakers condemn government's mismanagement of tourism fund that was fraught with exaggerations and irregularities HK$250m events fund bungling 'inexcusable' It was unacceptable and inexcusable for a HK$250 million big-events fund to be fraught with administrative and operational flaws, lawmakers said ...

    http://www.scmp.com/news/hong-kong/article/1550352/lawmakers-join-chorus-slamming-governments-mismanagement-mega-events
  7. Business - Banking & Finance - BANKING

    OCBC unfazed by hedge fund's stakebuilding in Wing Hang Bank

    Posted Jul 11th 2014, 01:31am by BLOOM

    ... Bloomberg in Singapore OCBC unfazed by Wing Hang moves Oversea-Chinese Banking Corp, which is buying Wing Hang Bank, achieved the "most important thing" by gaining control of more than 50 per cent of the Hong Kong lender, chief executive Samuel Tsien said. OCBC, as the Singapore lender is known, will forge ahead to garner more Wing Hang stock even as hedge fund ...

    http://www.scmp.com/business/banking-finance/article/1551446/ocbc-unfazed-hedge-funds-stakebuilding-wing-hang-bank
  8. News - Hong Kong - POLITICS

    Under-fire finance committee chief Ng Leung-sing blames treasury over funding backlog

    Posted Jul 09th 2014, 12:46pm by Tony Cheung

    ... to add an eight-hour special meeting on Saturday to clear the backlog, which includes funding requests for such projects as the reconstruction of Queen Mary Hospital. The no-confidence motion ... It came after Ng was accused of breaching Finance Committee procedures- most notably when he rushed through a vote on a controversial HK$340 million funding request for a new-towns project on June ...

    http://www.scmp.com/news/hong-kong/article/1550251/under-fire-finance-committee-chief-ng-leung-sing-blames-treasury-over
  9. News - Hong Kong - POLITICS

    Further sessions called to clear backlog of Legco funding requests

    Posted Jul 08th 2014, 03:42am by JEFFIE LAM

    ... Jeffie Lam jeffie.lam@scmp.com Bid to ease backlog of funding requests before summer recess, but radicals' stance on landfills and incinerator mean effort may be wasted Saturday sitting on cards amid backlog Almost the entire Legislative Council is being asked to attend an extra eight-hour meeting on Saturday to ease a backlog of more than 40 government funding requests ...

    http://www.scmp.com/news/hong-kong/article/1549166/further-sessions-called-clear-backlog-legco-funding-requests
  10. Business - Banking & Finance

    Lawmakers want government to run MPF low-cost core funds

    Posted Jul 08th 2014, 01:54am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Government should run low-cost core fund, say legislators, who are wary of providers Lawmakers do not trust industry on MPF reform Lawmakers have strongly criticised the pension regulator for failing to protect employees as they believe the reform proposal for a low-fee core fund option should be run by the government instead of it being handed over ...

    http://www.scmp.com/business/banking-finance/article/1549244/lawmakers-want-government-run-mpf-low-cost-core-funds

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