HSBC TRADE PLANS TO OFFER FACTORING SERVICES IN S INDIA
Article Abstract:
HSBC Trade Services (HTS) plans to introduce factoring services in South India by 1999. HTS is the trade financing division of Hongkong and Shanghai Banking Corporation Ltd (HSBC). Bangalore is likely to be selected as the headquarters for HSBC's factoring operations. It hopes to break even within three years. It has targeted 10 percent of its trading services turnover from factoring. HSBC Factors will allow an exporter to turn his invoices into instant cash by offering advance payment of upto 80 percent of their value. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SUMAN MOTELS RECORDS 12% RISE IN H1 NET
Article Abstract:
The net profit of Suman Motels has increased by 12 percent to Rs2.37 crore during the first half of 1998-99. Its sales and other income rose by 6 percent to Rs14.85 crore. Gross profit increased to Rs3.98 crore (3.53 crore recorded in the first half of 1997-98). It has set up 14 resorts in Khopoali, Panvel, Mahabaleshwar, Nasik and Lucknow, with a total capacity of 455 rooms. Currently, it is setting up thirteen new projects. (um)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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