The plan for the Hong Kong conglomerate The Wharf (Holdings) to have half of its total assets on the mainland may not be achievable in the near future, the company's chairman warned shareholders.Friday, 7 June, 2013, 3:46am
PetroChina recently adopted a strategy to "lighten" its asset investment burden by selectively opening up its oil and gas exploration and development projects, refineries, petrochemical plants and oil and gas pipelines to investment by domestic and overseas partners.31 May 2013 - 3:49am
Loeb's Third Point hedge fund asked Sony, which had seen its market value shrink almost 90 per cent from its peak, to sell as much as 20 per cent of its entertainment business in an initial public offering, and focus on its struggling electronics division. The entertainment business was not for sale, Sony replied whereupon the company's shares rose by the largest amount in more than four years.16 May 2013 - 4:27am
A newspaper columnist has a way of making enemies. One or two members of the Hong Kong Club have told me over time that they would relish my trying to join as it would give them great joy to fling blackballs in my direction.12 May 2013 - 4:00am 1 comment
Several international fund houses are planning to use Hong Kong as a base for their investments after the government vowed to turn the city in a "world factory" for the asset management industry. The government is proposing a combination of reforms to attract investment.8 Apr 2013 - 3:17am
Citic Securities aims to expand into asset management and build its overseas business to boost profitability. The move comes in the face of a sharp slowdown in domestic stock offerings and lukewarm trading sentiment.29 Mar 2013 - 4:16am
ASM International fell up to 16 per cent after saying it plans to sell a stake in Hong Kong-listed ASM Pacific Technology in an effort to increase the value of its combined businesses.14 Mar 2013 - 7:47am
HSBC is in talks to sell some of its subprime mortgage portfolio for US$200 million less than the book value.
The sale to a subprime lender in the United States, SpringCastle Acquisition, and a mortgage investor managed by private-equity firm NewCastle Partners of Connecticut in the US was slated to be completed in the second quarter, HSBC said yesterday.7 Mar 2013 - 6:12am
For Derek Kwong, one of the best-performing China-focused asset managers, it is more important to pick the right stocks than to forecast the upper limit of the stock index.4 Mar 2013 - 8:27am
McGraw-Hill, which faces US$5 billion in fines for allegedly misleading bondholders, is fortifying its own investors with US$1.4 billion in net cash and what may be the fastest profit growth since 2007.14 Feb 2013 - 4:53am
Societe Generale cut jobs and sold assets last year to cope with stricter international capital and liquidity rules after French banks had their access blocked to US dollar funding and European debt markets. The write-downs and litigation costs in the quarter offset a rebound in earnings at the corporate- and investment-banking unit, where the firm trimmed about 1,600 jobs after shuffling management.14 Feb 2013 - 4:41am
The recent debt issues by mainland developers in Hong Kong will not result in excessive supply and investors should still consider these high-yield bonds as an attractive asset class this year, asset management firms say.18 Jan 2013 - 5:27am
Cathay Conning Asset Management, a joint venture between Taiwan's Cathay Financial and US-based Conning Asset Management, wants to grow its Asian business out of Hong Kong by investing in Asian equities.10 Dec 2012 - 6:01am
The Hong Kong government is working with the mainland securities regulator to seek mutual recognition of fund products sold in both markets to boost the local asset management industry.
Secretary for Financial Services and the Treasury Chan Ka-keung said yesterday that he gave the proposal to the China Securities Regulatory Commission during his visit to Beijing late last month.28 Nov 2012 - 2:34am