Lippo Group financial restructuring is approved handily by shareholders

Article Abstract:

Lippo Group shareholders have authorized the restructuring of the company's financial units. The restructuring involves the acquisition of 27% of Lippo Life by Lippo Securities and the increase of Lippo Life's stake in Lippo Bank by 40.15%. The quick approval of the restructuring has prompted critics to speculate that the effort may have been staged by the founding Riady family to cover the removal of assets from listed companies.

Securities Dealers, Investment Banking and Securities Dealing, Management, Financial services industry, Financial services, Lippo Group

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U.S. brokerages may clean up from Japan's banking mess

Article Abstract:

Japanese banks have resorted to the writing off of bad loans which they made to property developers and are seeking the help of US underwriters to enhance the attractiveness of issued shares that are expected to replenish lost capital. Tokai Bank Ltd., a major Japanese bank, has already contracted Salomon Brothers Inc. for underwriting services. This trend gives US brokerage firms a good opportunity to win valuable contracts.

Securities Brokerage, Banking industry, Finance, Stockbrokers, Contracts, Business brokerage

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