Effects of price war linger: Hong Kong newspapers see better times ahead

Article Abstract:

Analysts believe that the newspaper price war set off by Oriental Press Group Ltd. in 1996 would help newspaper publishers recover in the 2nd half of 1997. The price war set revenue down at all Chinese-owned newspapers except Oriental Press for FY 1996 and helped the company retain its leading position in the market. Many companies suffered marked declines in profits and some were forced to close down because their profit margins were less than their operation costs. Aside from the effects of the price war, rising demand for advertising space and newspaper cover prices will also contribute to the recovery of the industry.

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And the winner isn't Value Partners' Fund: fund manager questions Micropal's method for determining rankings

Article Abstract:

Value Partners Ltd. of Hong Kong managing director Cheah Cheng Hye has questioned the criteria used by Micropal Asia Ltd. and the South China Morning Post in determining winners in the Fund manager of the Year Awards. Mr. Cheah expected his firm to win the award after Value Partners A Fund posted returns of 42.03% in a three year period. Micropal gave the award instead to HSBC Hong Kong Equity Fund for earning a score of 6.82 in volatility over a 36 month period, compared to a mere 3.90 for Value Partners. Other investment managers have also commented on the confounding method employed by the firm.

Depository Credit Intermediation, Money Management Accts & Svcs, Financial services industry, Financial services, Achievements and awards, Investment advisers, Asset management accounts, Value Partners Ltd., Micropal Asia Ltd., South China Morning Post Publishers Ltd.

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SCMP's moves raise concerns with some fund managers

Article Abstract:

Investment analysts and fund managers have questioned the South China Morning Post Ltd's (SCMP) investment in companies with ties to SCMP's own management. It announced in its Dec 1998 annual financial report that it has lost HK$256 million and has invested in the Philippine-based companies Belle and Sinophil, in which SCMP Deputy Chairman Robert Ongpin has interests. Portfolio managers raised concerns about the prudence of these investments. As such, analysts have advised shareholders to reduce their holdings in the company.

Sales, profits & dividends, All Other Publishers, Hong Kong, Miscellaneous publishing, Publishing NEC, South China Morning Post Ltd., Ongpin, Robert

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