Dongbang Peregrine debt: securities were bought as firm neared failure
Article Abstract:
A former employee of Dongbang Peregrine Securities Co says the company kept on buying debt securities from Peregrine Investments Holdings Ltd even as the firm neared collapse. The news raised fears on how the failed firm's assets could be effectively liquidated and effectively pushed down The Hong Kong stock market by 8.7% in the second week of January 1998. A Dongbang Peregrine official remarked, however, that the company would remain afloat even if failed Peregrine Investments Holdings wrote off the entire value of the debts securities it purchased.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Hong Kong bourse official is charged with bribery
Article Abstract:
Former Hong Kong Stock Exchange vice chairwoman Chen Po-sum is being tried for bribery after her alleged involvement in the transfer of seats between four stock brokerage firms. The move came in the light of the Securities and Futures Commission's crackdown on illegal practices. Hong Kong's Independent Commission Against Corruption stated that Chen received a total of HK$ 1.6 million by brokering the deal between Nomura Securities and On Wah United Securities.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Standard Chartered tries sale again
Article Abstract:
Standard Chartered PLC is offering its Hong Kong-based stock-brokerage arm, Standard Chartered Securities Ltd., for sale. Local press reports have named Bank of China as the likely buyer. One of the top 30 stock-brokerage firms in Hong Kong, Standard Chartered Securities, was involved in one of the colony's largest securities scandals and was reprimanded by market regulators in Jun. 1994.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Tax time for Bongbong: authorities pick an easy Marcos-family target. Commissar of the faith: for MILF chief, autonomy isn't enough
- Abstracts: Hong Kong voters speak out: they want democracy, but many find pro-China party acceptable. Lo: a long, puzzling record
- Abstracts: A revamped Promet seeks major share of lucrative Malaysian dockyard pie. Bukaka sees infrastructure projects fueling growth
- Abstracts: Angara's anger: Senate president's ouster may return to haunt Ramos. Caught napping: scandals set back Ramos's war on kidnapping
- Abstracts: How the experts see it: no consensus. Geared returns