Greenwich plays matchmaker in Hong Kong

Article Abstract:

Greenwich Group Intl. LLC's linkage of US vulture funds, investment partnerships in depressed but potentially lucrative markets, with Hong Kong real estate prospects may raise $2 to $2.5 billion for Asia's cash-starved property markets. Greenwich (New York) had experience with assisting Asian family businesses wanting to invest in the US property market. Such businesses, lacking capital due to the Asian financial crisis and lack of available credit, were assisted by Greenwich's relationships with capital-rich US investors who, conversely, lacked expertise in the Asian property market. Greenwich's initial $200 million deal was Orient Realty Inc., which matched a US bank, possibly Blackstone Group (New York), with Hsin Chong Construction Co. (Hong Kong).

Comment:

Greenwich (New York) matches US investors and Hong Kong companies wanting to invest in US property market

Strategy & planning, Greenwich Group International LLC

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One company's moving tale of overcoming turmoil

Article Abstract:

Crown Worldwide Group will see its revenues increase by 15% in 1998, to nearly $300 million. The company, which specializes in moving expatriate households, thrives when tumult or economic forces drive expatriates from their adopted countries. James Thompson, who heads the company, stated that globalization has spurred expansion in the international moving industry, now the fastest-growing segment in the moving industry. Crown, which is headquartered in Hong Kong, has some 110 offices worldwide and approximately 3,000 employees. The company charges about $15,000 per move and always requests payment in US currency.

Comment:

Crown Worldwide, mover of expatriate households, expects '98 earnings to rise to about $300 mil

Sales, profits & dividends, General Freight Trucking, Long-Distance, Overseas Moving, Storage and moving industry, Crown Worldwide Group

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Closure of Gitic is China's first step in tighter control of financial industry

Article Abstract:

The closure of Guangdong International Trust and Investment Corp. (Gitic) signalled the beginning of China's crackdown on its financial sector. The country is planning on implementing stricter controls on financial entities. The People's Bank of China, China's central bank, stated that its restructuring will allow it to carry out similar closure actions. A central bank official said that the institution was studying new regulations that would standardize the closure procedures used to shutdown Gitic.

Comment:

Closure of Gitic signals beginning of China's crackdown on its financial sector

China, Government regulation (cont), Financial Services, Finance and Insurance, Legal/Government Regulation, Guangdong International Trust and Investment Corp.

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