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  1. Manager suspended, bank says HSBC deal still on

    Posted Jul 12th 2004, 12:00am by Mark O'Neill

    ... 60 per cent of the shareholders at its annual meeting on June 20 had approved its plans to restructure and bring in strategic investors. 'Negotiations with HSBC are going smoothly,' ... Mark O'Neill in Shanghai Hit by sit-ins at a Shanghai branch and a 200 million yuan fraud in Liaoning, the Bank of Communications (Bocom) is fighting to save an investment from HSBC ...

  2. Household returns and exchange rate gains offset global downturn

    Posted Aug 05th 2003, 12:00am by Staff Reporter

    ... with good restructuring potential. In an apparent defence against such accusations, HSBC chairman Sir John Bond yesterday said: 'Household's contribution in its first three months ... Two recent acquisitions and exchange rate gains were the main drivers of banking giant HSBC Holdings' robust 25 per cent year-on-year surge in first-half net profit to US$4.1 billion, ...

  3. StanChart raises stakes in battle for Korea First

    Posted Dec 29th 2004, 12:00am by Staff Reporter

    ... Kelvin Wong News boosts HK-listed shares, although HSBC is still seen as the favoured suitor Standard Chartered Bank has raised the stakes in its battle with HSBC for control of Korea ... closed up $2, or 1.4 per cent, at $144.5 yesterday. HSBC was unchanged at $132.50. 'Although the outcome is still very much open, the news is positive enough for a lot of institutional ...

  4. Restructuring issues delay China Putian's dual listing

    Posted Oct 07th 2003, 12:00am by Staff Reporter

    ... been scaled back and delayed by restructuring issues, according to sources close to the transaction. China Putian's dual listing in Hong Kong and New York has been cut from US$2 billion-$3 ... restructuring plan, China Putian established a shareholding company with registered capital of 1.9 billion yuan for listing. The listed vehicle will incorporate portions of handset companies Ningbo ...

  5. Talks 'stop' for Bocom stake sale to StanChart

    Posted Jun 02nd 2004, 12:00am by Staff Reporter

    ... HSBC Holdings may soon clinch a deal. Standard Chartered director Peter Wong Tung-shun confirmed yesterday that discussions with Shanghai-based Bocom, China's fifth-largest bank, had ... banks.' Last month, Bocom chairman Yin Jieyan said that his bank was negotiating a direct sale of equity with overseas players, including HSBC and Standard Chartered. Mr Yin hinted negotiations ...

  6. Standard Chartered seeks stake in Everbright Bank

    Posted Jun 07th 2004, 12:00am by Wang Xiangwei

    ... commercial banks, sources said. The London-based bank set its sights on Everbright after it lost to rival HSBC Holdings in the competition to acquire a 20 per cent stake in the Bank ... banks to seek strategic foreign investors without wholehearted efforts at restructuring. Standard Chartered and Everbright appeared to have agreed on the pricing and should reach a deal soon, ...

  7. Moulin awaits final count of staff cuts

    Posted Jul 02nd 2005, 12:00am by Staff Reporter

    ... reported that Moulin's mainland staff have not been paid for several months. The liquidation of Moulin comes in the wake of 29 banks, led by HSBC Holdings, seeking to reclaim at least $2.4 billion in outstanding loans after restructuring efforts failed and accounting irregularities continued to emerge at the company. A winding-up petition hearing is scheduled for August 24. ...

  8. Mainland telecoms firms prop index as HSBC dips

    Posted Jul 20th 2005, 12:00am by Staff Reporter

    ... telecommunications operators offset a slump in HSBC triggered by worse than expected second-quarter earnings from its bigger rival Citigroup. Investors began taking profit on Sino Land, New World Development ... to five days. At the close of trading, the index was 0.74 point higher at 14,567.74 after moving in a range between 14,493.27 and 14,625.08 points. HSBC pulled the index 32.2 points lower ...

  9. HSBC establishes insurance offices in the mainland

    Posted Sep 18th 2003, 12:00am by Enoch Yiu

    ... HSBC has set up six insurance representative offices on the mainland and hopes to be granted a licence to sell life and general insurance policies by 2006. The step takes the group closer ... before applying for a licence. Choy Chung-foo, chief executive of HSBC Insurance (Asia-Pacific) Holdings, said HSBC already met two other requirements: a 30-year track record in the insurance ...

  10. CCB takes key step in its listing plans

    Posted Sep 09th 2004, 12:00am by Staff Reporter

    ... reorganisation into a shareholding company. Also last month, Bocom struck a deal to sell a 19.9 per cent stake to HSBC for 14.46 billion yuan in the largest foreign equity investment in the mainland ... with the 1.02 times book value price at which the bank proposed to sell stakes to the founding minority shareholders, a mainland industry source said. By contrast, HSBC agreed to pay 1.56 times ...




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