Asset Management | South China Morning Post
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  • Mar 28, 2015
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Asset Management

Wharf backs down on assets plan

Peter Woo told shareholders he had a succession plan in place.

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 in talks to sell minority stakes in projects

PetroChina is expected to sell stakes in projects as part of plans to cut capital expenditure and improve its cash flow. Photo: Bloomberg

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

Going with the movies: Sony shares soar after rebuff

Sony says the entertainment businesses are important contributors to the company's growth and are not for sale. Photo: AP

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

Time for the Hong Kong Club to end its embarrassment of riches

Hong Kong Club Building in Central. Photo: Felix Wong

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

Investment firms bet on future Hong Kong 'fund factory'

Julia Leung says the government's plan will create jobs in the city as it becomes a base for investment that is currently concentrated in Europe and the US. Photo: Felix Wong

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

Brokerage leader eyes new paths to profit

Wang Dongming, chairman of Citic Securities Company Limited. Photo: Edward Wong

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

ASMI to sell stake in Hong Kong-listed arm

ASMI to sell stake in Hong Kong-listed arm

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 set to sell US$3.4b of mortgage assets at a loss of US$200m

HSBC set to sell US$3.4b of mortgage assets at a loss of US$200m

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

Top stock picker Derek Kwong says 'be boring'

Derek Kwong, co-founder and CIO of Basic Asset Management, prefers 'boring names' to hot stocks. Photo: Jonathan Wong

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

Under-fire McGraw-Hill builds war chest

McGraw-Hill restructures to raise cash while it faces US$5 billion in fines. Photo: Reuters

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 sees loss on Newedge write-down

Societe Generale has been cutting jobs and selling assets.

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

Asset managers calm worries over junk bonds

Sean Chang of Baring Asset Management said he would encourage investors to buy junk bonds, especially in the property sector.

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

Asset manager Cathay Conning seeks Asian growth

Cathay Conning plans to allocate 20 per cent of its US$1 billion capital to Asian small- and mid-cap stocks. Photo: Reuters

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

Hong Kong seeks recognition of its funds on the mainland

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