New directors named to mortgage corp board
Financial Secretary Henry Tang Ying-yen has appointed two directors to the Hong Kong Mortgage Corp. They are legislator Abraham Shek Lai-him and Manulife Financial executive vice-president Edward Lau Wan-kong, for the term until March next year. Bernard Charnwut Chan, executive councillor, has resigned as director of the mortgage corporation after serving on the board for six years.
Regional Container and China MerchaNts in deal
Regional Container Lines and China Merchants Holdings (International) have signed two joint-venture agreements. One is a cargo forwarding project to be based in Ningbo with an investment of $15 million and the other is a Hong Kong-based feeder services project with an investment of $8 million.
Exchange Fund foreign assets down $13.9b
Foreign assets in the government's Exchange Fund were $13.9 billion lower at the end of last month, compared with October, according to figures released yesterday by the Hong Kong Monetary Authority. The figure stands at $868.3 billion. The monetary base, comprising certificates of indebtedness, government-issued currency notes and coins in circulation, the banking system's aggregate balance and Exchange Fund bills and notes issued, amounted to $288.4 billion.
