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  1. HSBC plays down its role in minibond sales

    Posted Dec 31st 2008, 12:00am by Joyce Man

    ... Joyce Man HSBC yesterday played down its role in the minibonds issue, stressing that as the director of the issuing entity, its responsibilities were merely administrative. The bank was responding to a recent disclosure that it was the director in addition to being the trustee of Pacific Finance International, which issued the minibonds. HSBC US is the trustee of the minibonds ...

  2. Checks on imported food to be tightened

    Posted Dec 23rd 2008, 12:00am by Joyce Man

    ... Joyce Man The food-hygiene watchdog has promised to tighten inspections following reports that importers have been sneaking uncertified mainland chicken carcasses into Hong Kong hidden ... control office near the Man Kam To border checkpoint. The watchdog said it had inspected 23 per cent of the vehicles entering the city carrying vegetables from January to November. But it had only ...

  3. Lawsuits to be filed against three banks over minibond sales

    Posted Nov 01st 2008, 12:00am by Joyce Man

    ... Joyce Man The Democratic Party will help investors file lawsuits next week against banks they say mis-sold them financial derivatives issued or guaranteed by bankrupt US bank Lehman Brothers. They will be the first filed in Hong Kong over the investments, which lost much or all their value when the bank collapsed on September 15. The cases would be filed to the District Court ...

  4. HK Electric's tariff cut not enough, say traders

    Posted Dec 17th 2008, 12:00am by Joyce Man

    ... Joyce Man The restaurant trade and lighting and electrical appliance shops on Hong Kong Island said Hongkong Electric's 5.9 per cent tariff cut, announced yesterday, was too small. ... drop doesn't really help,' he said. Man Chung Electrical, a home-appliances store in Aberdeen that sells television sets, heaters and air conditioners, said Hongkong Electric should ...

  5. Hang Lung Group chairman says no job losses, considers pay cuts

    Posted Nov 26th 2008, 12:00am by Joyce Man

    ... The Hang Lung Group has no plans to fire staff but may cut pay, starting with management, the property group's chairman said yesterday. Ronnie Chan Chi-chung, speaking after the China Economic and Business Forum 2008 at Hong Kong Polytechnic Universi ...

  6. Monetary Authority to probe mini-bond sales techniques

    Posted Sep 23rd 2008, 12:00am by Joyce Man

    ... Joyce Man Hundreds of investors claim they were not warned of risks The Hong Kong Monetary Authority says it will investigate whether banks used improper tactics to market Lehman Brothers mini-bonds, as angry bond holders demand answers about their investments. The authority was collecting complaints from investors and information from banks to assess whether the banks used improper ...

  7. Petition seeks support for abused bank staff

    Posted Nov 07th 2008, 12:00am by Joyce Man

    ... Joyce Man A group of netizens has organised a petition in support of bank staff on the receiving end of a storm of abuse from angry investors in Lehman-backed derivative products. The move ... for the Betterment and Progress of Hong Kong last month. He said his mother had died a day after he discovered his investments were linked to the collapsed Lehman Brothers bank. Chan Man, a community ...

  8. Democrats drop legal bid after deal on Lehman products

    Posted Nov 06th 2008, 12:00am by Joyce Man

    ... Joyce Man The Democratic Party has dropped plans to sue several banks over allegedly mis-sold derivative investments because the banks have settled with complainants. Party chairman Albert ... director of banking supervision, Nelson Man. He did not say, however, that customers had any right to the recordings. The customers could be accompanied by a friend, relative or adviser or to take ...

  9. Monetary Authority launches probe into 22 complaints

    Posted Oct 07th 2008, 12:00am by Joyce Man

    ... Joyce Man The Hong Kong Monetary Authority has opened investigations into 22 complaints about Lehman-related investment products. The complaints under investigation involved eight banks, which together represented 70 per cent of all the banks about which the authority has received complaints, Monetary Authority executive director for banking development Raymond Li Ling-cheung ...

  10. Agents warned over investments

    Posted Sep 30th 2008, 12:00am by Joyce Man

    ... Joyce Man Agents selling investment products should understand their products and clients, the head of the Securities and Futures Commission said yesterday, as hundreds of Lehman Brothers minibond investors continued to complain about mismarketing. It is 'of paramount importance' that agents understand the products' investment features and risk profiles, and consider ...




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