Funny money: bankers question Beijing investment guarantee

Article Abstract:

China Finance Trust & Investment is seeking to borrow money through a $35 million certificate of deposit that the People's Bank of China purports to guarantee. Those close to the deal, however, refuse to vouch for that guarantee. The invitation refers to the People's Bank as controlling the shareholders in China Finance, and therefore being responsible for the offer under law. However, such terms as 'shareholder' and even 'law' have nebulous meanings in China. The firms arranging the deal may back out.

China, Product information, Guaranteed investment contracts, People's Bank of China

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Waterfront woes

Article Abstract:

The decline in the demand for real property in Japan is adversely affecting the most ambitious real-estate project in the country's history. The project, which involves the redevelopment of the waterfront in Tokyo, was initiated by Nomura Securities at the height of the property boom in Tokyo in 1988. However, the glut in the property market is forcing investors to abandon the project, despite the recent government move to reduce property lease fees in Tokyo.

Real estate, Buildings and facilities, City planning, Urban planning, Real property, Tokyo, Japan

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Red-chip gold mine

Article Abstract:

The practice of offering management fringe benefits seems to be doing fine for red-chip companies in Hong Kong. However, the threat of abusing these benefits remain a spectre in the management of these companies.

Analysis, Hong Kong, Government business enterprises, Public enterprises, Controllership

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