Schindler lists gripes with Korea partner

 Schindler Holding chairman Alfred Schindler forged ahead with investments in companies such as Hyundai Elevator to gain access to fast growing markets like Seoul and to avoid being swallowed up by larger rivals. Photo: Bloomberg

Billionaire Schindler Holding chairman Alfred Schindler blasted Hyundai Elevator for denying him access to its books, as he wages a legal battle to protect his 35 per cent investment in the Korean company.

Thursday, 13 December, 2012, 3:26pm

CLP Holdings in HK$7.7 billion share offer for investment needs

CLP says fuel costs will rise on higher-priced gas. Photo: Felix Wong

Hong Kong's largest electricity supplier, CLP, is raising up to HK$7.687 billion through a placement of new shares to fund its investment needs in the city, a term sheet seen by the South China Morning Post shows.

13 Dec 2012 - 4:57am

China's boom in wealth management products makes economists fear

A Huaxia Bank branch, like this one in Beijing, came under national spotlight after an employee promoted a WMP. Photo: Bloomberg

The mainland's smaller banks boosted sales of wealth management products (WMPs) to account for more than 85 per cent of the 3.5 trillion yuan (HK$4.34 trillion) of offerings in the first nine months of this year, raising credit risks and deposit costs, Fitch Ratings said.

13 Dec 2012 - 5:25am

Heavy purchases by Lifestyle director Thomas Lau lead buying spree

Thomas Lau

Buying by directors rose for a second week, based on filings on the exchange in the first week of December, with 27 companies that recorded 129 purchases worth HK$319.3 million. The figures were up from the previous week's 22 companies, 122 purchases and HK$87 million.

10 Dec 2012 - 7:18am

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

Stock Watch: Wheelock

Peter Woo spent over HK$400 million on Wheelock shares between August 2011 and October 2012. Photo: Dickson Lee

Peter Woo Kwong-ching, the chairman of Wheelock & Company and Wharf Holdings, has also been steadily increasing his shareholdings in Wheelock, a ports-to-property conglomerate. Between August last year and October this year, he spent about HK$434 million on Wheelock shares.

Based on its current share price, he would have reaped more than HK$190 million in unrealised profits.

10 Dec 2012 - 2:28am

Strategies for beating the housing bust

Real estate investment trusts, or reits, are a good start for investors who are not wealthy to gain real estate exposure. But they are negatively affected by a property slowdown. Photo: Sam Tsang

Hong Kong has followed Singapore's lead in trying to curb its residential property market by diktat. It has imposed its first restrictions targeted at non-locals, charging non-permanent residents a special stamp duty of 15 per cent.

10 Dec 2012 - 6:07am

Investors are again betting on mainland start-ups

Michael Lewis, co-founder of Qiuqiu, says mainland investors are more conservative than their Western counterparts. Photo: K.Y. Cheng

Four squares on a phone screen show photos of four women. Tap the one you like and profiles appear showing age, occupation, education, and current location: a 27-year-old dentist and a 23-year-old garment buyer in Beijing; a 24-year-old designer in Hong Kong, and a 32-year-old sales executive in Taiyuan.

10 Dec 2012 - 2:28am

IPO Preview: PICC and the Powl

Potential Powl clients. Photo: EPA

Amid tense Sino-Japanese relations, the US$3.1 billion initial public offering of mainland insurer PICC Group is all the more remarkable in that it included a rare tranche solely targeted at Japanese investors.

While the exact allocation hasn't been disclosed, the equivalent of US$220 million is thought to have been allotted to them, the offer also said to have been well subscribed.

10 Dec 2012 - 2:28am

The Week Explained: Low interest rates

Time to yield to temptation? Let's shoot down that argument. Photo: Corbis

We are stuck in a low interest rate environment likely to remain at this level for some time, not least because governments are competing aggressively to keep rates down to avoid an appreciation in the value of their currencies.

10 Dec 2012 - 2:28am

Demand cool for coal machinery firm

Conveyors made by Zhengzhou Coal are used in longwall mining to support the shearers and transport the coal. Photo: SCMP

The Hang Seng Index surged yesterday to a high for the year following a meaningful pickup in the mainland market and continued hot money inflows.

Despite this, shares of Zhengzhou Coal Mining Machinery fell 8.8 per cent on their trading debut, suggesting poor demand for coal mine equipment because of overcapacity on the mainland.

6 Dec 2012 - 3:16am

Ping An deal has Beijing connection

Dhanin Chearavanont, chairman and CEO of Charoen Pokphand Group.

HSBC's exit from its long-time investment in Ping An Insurance - China's No 2 life insurer - may not be a surprise to the market, but the buyer is big news.

6 Dec 2012 - 11:56am

Think tank says investments to remain stable

The blue book suggests Beijing should increase fiscal deficit and guide private funds to support major transport and urban infrastructure investments. Photo: Xinhua

Government researchers are confident Beijing will keep investments stable next year, predicting economic growth will accelerate to 8.2 per cent from an estimated 7.7 per cent this year.

8 May 2015 - 9:46am

Norwegian sovereign wealth fund to invest US$11bn in US real estate

Norwegian sovereign wealth fund to invest US$11bn in US real estate

Norway's US$660 billion sovereign wealth fund, the world's largest, plans to invest about US$11 billion as it enters the US real estate market.

5 Dec 2012 - 4:29am

Chart of the week: China stocks cheapen in BRIC bloc

Chart of the week: China stocks cheapen in BRIC bloc

China's new leaders face the challenge of reining in the dominance of state-owned enterprises that has helped drag stock valuations down the most among the so-called BRIC bloc - leading emerging market economies - in the past decade.

8 May 2015 - 9:46am