The Sumitomo Bank

Yen seen tumbling against US dollar

The yen will this year weaken from its present level of about 108 to the US dollar to about 125, according to the man who once held the reins of the Japanese currency.

Tuesday, 15 February, 2000, 12:00am

Banks sue gas firm

A banking syndicate dominated by Korean banks has sued Hainan Beihai Gas and its guarantor, Hainan International Trust and Investment Corp (Hitic), for outstanding debts of US$37.83 million.

The 14-member syndicate is the biggest group of foreign banks to file a single writ against a mainland Itic, according to banking sources.

20 Aug 1999 - 12:00am

Sumitomo, Jardines link

SUMITOMO Bank and Daiwa Securities have agreed to tie up with T Rowe Price Associates and Jardine Fleming in asset management. Under the four-party agreement, Sumitomo, Daiwa and T Rowe would set up an asset management firm in Japan in April with two billion yen (about HK$135.71 million) capital, Yomiuri Shimbun said.

24 Jan 1999 - 12:00am

Hwa Kay Thai chief faces $27m suit over Sumitomo Bank loan

Hwa Kay Thai executive chairman Wong Chong-shan is facing legal action over a HK$27.2 million debt to Sumitomo Bank.

Wong, also known as Keeree Kanjanapas, has failed to make any payments despite a demand from Sumitomo's solicitors on June 11, according to a High Court writ.

29 Jul 1998 - 12:00am

China Resources seeks US$250m

China Resources (Holdings) Co has mandated five banks to help arrange a US$250 million five-year syndicated term loan. The loan will pay a margin of 40 basis points above the London interbank offered rate. It will be used to refinance the company's debt and for general corporate funding.

3 Jul 1997 - 12:00am

Fund raisers prefer HK Bank

Hongkong Bank has been named as the preferred institution by corporates in the territory for raising capital, according to a survey by the financial magazine Asiamoney. Standard Chartered came second followed by Sumitomo Bank.

18 Jun 1997 - 12:00am

Bank syndicate lends US$200m

Nine banks, including ABN Amro, LTCB, Sakura Bank, Sumitomo Bank and Sanwa International Finance, have formed a syndicate to lend US$200 million to Aviation Fuel Supply Co. The loan matures in December 2011, making it one of the longest-term financings in Asia, an ABN Amro Bank spokesman said.

1 May 1996 - 12:00am