Bigger is better: Bank of Tokyo, Mitsubishi create banking behemoth

Article Abstract:

Mitsubishi Bank's (MB) planned merger with the Bank of Tokyo (BOT) will create the world's largest bank and combine two remarkably compatible institutions. They have complementary emphases, BOT overseas and MB domestically, and relatively little overlap outside Japan. They both have significant presence in Singapore, Hong Kong, and California, however. The timing of the merger announcement surprised many observers, as both banks are currently healthy, a departure from the recent Japanese practice of merging ailing banks.

Japan, Mergers, acquisitions and divestments, Mitsubishi Bank Ltd., Bank of Tokyo Ltd. (Tokyo, Japan), MBK

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Regrets only

Article Abstract:

Shares in Hong Kong-based Siu-Fung Ceramics, which was originally a small trading concern buying ceramics-making equipment and selling it into China, stopped trading in Oct 1996, and shortly afterwards Hongkong Bank placed the company under credit control. It is possible that creditors will have to write off more than $250 million, most of what they lent to the company. Problems arose because Siegfried Lee, who founded the company, allowed it to grow too rapidly and started to believe that he was infallible.

Machinery Manufacturing, Special Industry Machinery, Management, Industrial equipment, Equipment and supplies, Cover Story, Industrial equipment and supplies industry, Industrial equipment industry, Company Profile, Ceramic industry, Siu-Fung Ceramics Holdings Ltd.

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Ready for action

Article Abstract:

The management of Shanghai Petrochemical Co has made careful preparations for its transformation to a joint stock company that will be listed in Hong Kong and New York, NY. However, there are questions about the company's relationship with the municipality and the allocation of some of its profits to a public-welfare fund. Other questions concern its ties to its parent company, Sinopec, future input costs and its foreign debt.

Securities, Petroleum chemicals industry, Petrochemicals industry, Shanghai Petrochemical Company Ltd.

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