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  • November 29, 2014
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  1. Three in eight minibond buyers have taken banks' buy-back offer

    Posted Aug 22nd 2009, 12:00am by Dennis Eng

    ... said yesterday. Peter Chan Kwong-yue, chairman of a group of aggrieved investors, is not surprised. It is 11 months since the US investment bank collapsed amid the global credit crisis and many ... The 9,219 investors who have agreed to sell their minibonds to the banks from which they bought them will get back 60 to 70 per cent of their initial investment depending on their age, and may get ...

  2. Minibond probe into several lenders expected to end soon

    Posted Feb 06th 2009, 12:00am by Dennis Eng

    ... investigations involve several big banks. The sources said it was hoped the banks would follow the example set by Sun Hung Kai Investment Services, which last month agreed to refund fully the investments ... may be,' a spokesman for the commission said. Twenty-one banks and three brokerage firms were involved in the sale of minibonds in Hong Kong. About 43,700 people invested HK$15.7 billion ...

  3. 'Back to normal' BEA shrugs off HK$2b run

    Posted Sep 27th 2008, 12:00am by Dennis Eng

    ... to bankrupt investment bank Lehman Brothers and troubled insurance giant AIG. The bank has outstanding exposures of HK$422.8 million to Lehman Brothers and HK$49.9 million to AIG, mainly through ... Dennis Eng The bank run that emptied about HK$2 billion from the Bank of East Asia's vaults on Wednesday largely dissipated yesterday as it reported that only a few branches ...

  4. Disney designer to head arts hub authority

    Posted Mar 26th 2009, 12:00am by Dennis Eng, Olga Wong

    ... responsible for its master planning, development, design and engineering. He left Disney in 2005 and later became the MTR Corporation's general manager, specialising in property investment. He recently joined investment bank Goldman Sachs. A source said Mr Cheng's experience made him suitable for the position, as West Kowloon would be a construction site for the next few years. ...

  5. Minibond fliers not scrutinised before 2004

    Posted Jul 22nd 2009, 12:00am by Dennis Eng

    ... mainly to mortgages. Lehman's bankruptcy in September rendered minibonds credit-linked to the US investment banking giant virtually worthless and forced Hong Kong regulators to act against banks and brokerages that sold the investment products to customers. 'Before 2004, promotional materials issued by the intermediaries were not subject to regulation, so the guidelines did ...

  6. Idea of financial ombudsman is being taken up

    Posted Apr 11th 2009, 12:00am by Dennis Eng

    ... investors. The investments lost most of their value when the US investment bank went bankrupt in September amid the subprime-mortgage crisis. The bankruptcy froze up credit markets, triggering ... businesses are regulated by the Monetary Authority. The commission regulates brokers, as well as bank staff who sell investment products. Ms Au said the government was considering which aspects ...

  7. HKMA deputy 'didn't know' of Lehman deal

    Posted Nov 11th 2009, 12:00am by Dennis Eng

    ... investors HK$15.7 billion in minibonds issued or backed by failed US investment bank Lehman Brothers. ... secured compensation for her soured Lehman Brothers minibond investments earlier than others. Seeking to distance himself from the controversy, Choi, who espoused the fair enforcement of the law ...

  8. Beijing calls for calm, promises to support HK

    Posted Sep 26th 2008, 12:00am by Ambrose Leung, Colleen Lee, Dennis Eng

    ... warned that the bank was experiencing financial difficulties and had suffered heavy losses on its exposure to bankrupt investment bank Lehman Brothers and troubled insurance giant AIG. The bank ... financial sector, despite Wednesday's citywide bank run, a top Beijing official in Hong Kong said yesterday. Zhou Junming, deputy director of the central government's liaison office, urged ...

  9. 'Lift conditions' on minibond deal

    Posted Sep 12th 2009, 12:00am by Dennis Eng

    ... be called to testify as a witness after he stepped down next month. Lehman's bankruptcy in September last year rendered minibonds credit-linked to the US investment banking giant virtually ... if a settlement could not be reached with the banks. But Li said the terms of the minibond compensation deal could not be changed. Under the arrangement announced earlier by the Securities and Futures ...

  10. Minibonds buyback bid unfair, says watchdog

    Posted Jul 04th 2009, 12:00am by Dennis Eng

    ... with minibond investors for about 60 per cent of their principal investment. Investors aged 65 or above would receive about 70 per cent. This is similar to a settlement proposed by Bank of China (Hong ... Brothers plunged after the US investment bank collapsed last year. The minibonds were not corporate bonds, but high-risk, credit-linked derivatives marketed as a proxy investment in well-known ...




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