Moody's takes negative view of banks

Article Abstract:

Moody's Investors Service said 27% of Wing Hang Bank lending portfolio was in residential mortgages while 20% in commercial real estate and construction. Another bank Wing Lung Bank was also exposed in property, with 39% of loans in residential mortgages and 25% in commercial real estate and construction. However, Moody's said about 30% of its residential mortgages were in government schemes that guaranteed values. *

Comment:

Residential mortgages comprise 27% of its lending portfolio while commercial real estate & construction comprises 20%

Investment Banking and Securities Dealing, Portfolio & Funds Management, Financial assets, Portfolio management, Wing Hang Bank Ltd.

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tia sang profit plunges

Article Abstract:

Tai Sang Land reported net profit fell 71% to HK$36.5 mn for the first half 1998, with turnover down 75% to HK$103.4 mn. The profit down was attributed to rental income falling from contracts renewal and property prices dip in Hong Kong. The company plans to offer discount on it Wong Chuk Hang cold storage operation and put its premises into better use and return. No further details were disclosed. *

Comment:

Plans to offer discount on it Wong Chuk Hang cold storage operation and put its premises into better use and return

Marketing procedures, Cold Storage Warehouses, Refrigerated Warehousing and Storage, Refrigerated warehouses, Tai Sang Land Development Ltd.

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