Finance firms look to form loan body
Article Abstract:
A group of 15 financial institutions reached an agreement on 22 June 1998 to establish an Asia Pacific Loan Market Association. The group aim to develop primary and secondary loan markets in the Asia Pacific. The new loan body's initial focus will be on Hong Kong and Singapore. It is expected to include Japan and Australia as well. The 15 financial institutions include Citicorp, ABN AMRO, BA Asia, Barclays Capital, Bank of Tokyo Mitsubishi, BNP, Chase Manhattan Asia, DBS, HSBC Investment Bank Asia, Societe Generale Asia, Standard Chartered Bank, Sumitomo Bank, Westdeutsche Landesbank Girozentrale and National Australia Bank. *
Comment:
Singapore: Group of 15 financial institutions reach agreement on 6/22/98 to establish Asia Pacific Loan Market Association
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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small firms offered barter system
Article Abstract:
Australian based Bartercard Group of Companies has launched a Bartercard trading program for SME in Hong Kong. Under the program, a credit unit called trade dollar is used to settle product and service transactions. Members with outstanding credit units can redeem for products and services from other members. As result of this, they can increase cashflow. It has 100 members joining this program. The company hopes to have 1,000 in 1998 and 6,000 in 2000. The average transaction amount is HK$5,000 each, rising to HK$20,000 in the near future. The service fee is 6% of transaction amount. *
Comment:
Launches a Bartercard trading program for SME in Hong Kong
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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Sa Sa turns to locals as tourism drops off
Article Abstract:
Cosmetic products retailer Sa Sa International recently opened two stores in non-tourist districts Whampoa Garden and Tsing Yi. It now has 21 retail outlets around Hong Kong. The company expected tourists to contribute 15% of its sales during this financial year, a drop from 40% last year. It intends to establish a stronger presence in shopping malls and the number of shops in tourist areas will remain unchanged. *
Comment:
Opens 2 stores in non-tourist districts Whampoa Garden & Tsing Yi in Hong Kong
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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