Farming giant risks defaulting on debts of $93 million

Article Abstract:

The recent collapse of C.P. Pokphand, one of Hong Kong's most established agricultural firms, signifies massive financial risks which foreign companies may encounter in China. According to reports, CP Pokphand may be compelled to default its $93 million foreign-trade debt, after the company's shares remarkably dropped by 18%, creating a 172% increase in its debt-to-equity ratio. CP Pokphand generated revenue earnings of $1.3 billion in 1997, and added some $210 million from its motorcycle manufacturing operations.

Poultry and Eggs, Poultry Farm Products, Poultry and Egg Production, China, Finance, Poultry industry, C.P. Pokphand Company Ltd.

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Colony's Joyce charms stock pickers with European fashion, regional clout

Article Abstract:

A growing number of fund managers are buying up shares in Joyce Boutique Holdings Ltd. (Joyce), a Hong Kong-based fashion retailer. The company's popularity primarily stems from the fact that it is the only retailer in the colony that has not been affected by the yearlong slump in consumer spending. Another factor in the company's popularity is its low trading price, approximately 7.2 times forecast 1996 earnings per share.

Retail Store Chains, Retail industry, Retail trade, Hong Kong, Securities, Chain stores, Joyce Boutique Holdings Ltd.

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Regional currency pacts seen as a good first step

Article Abstract:

Asian countries have taken steps against currency speculation in the region by holding U.S. Treasury bills at the Hong Kong Monetary Authority and similar banks in Thailand, Indonesia, Australia and Malaysia. The treasury notes will be held under repurchase agreements among these countries. THey have also expressed plans to cooperate on asset classes.

Other General Government Support, Coinage & Currency, Economic policy, Money, Asia-Pacific Economic Cooperation, Currency swaps, Repurchase agreements

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