Fund targets Asian debt
Article Abstract:
Asia Debt Recovery Co.'s Mytilus fund was formed by some Hong Kong executives in an effort to handle current debt problems that Asia is having. The company is optimistic that the consolidation of the distressed assets into one fund will enable the firm to improve its leverage in discussions with defaulting creditors. The fund takes on difficult Asian debt from various investors and in exchange it gives them shares in the fund and generates a profit when finds a use for the assets. The fund's managers also make pledges to the investors that they will do something about the problematic assets.
Comment:
Mytilus fund is formed by some Hong Kong executives in an effort to handle current debt problems that Asia is having
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Small-cap fund manager seeks an encore to his success
Article Abstract:
Scobie Ward, the chief investment officer for Hong Kong-based Lloyd George Management's Smaller Companies fund, was able to outperform his competitors by following a simple rule. Ward said that he picks firms with a history of high returns on equity, firms that do not need large capitalizations and those that have clean balance sheets. Ward's Smaller Companies fund was the top performer for the region with a 15% gain in the first quarter of 1999.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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Lai Sun Hotels' Furama deal looks bad to some analysts; purchase prices raises eyebrows among investors, but minority shareholders remain silent
Article Abstract:
Hong Kong-based Lai Sun Hotels International's shareholders will vote on Mar 22, 1999 on the company's plan to acquire a stake in Furama Hotel from parent Lai Sun Development. Under the deal, Lai Sun Hotels will pay $277.4 million for Furama which Lai Sun Development plans to demolish and rebuild as a retail/office/hotel complex. However, analysts have raised questions about the deal with some claiming that the price of the hotel is too high.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
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