Nomura's contrition
Article Abstract:
An analysis of Nomura Securities' announcement that it will buy back $336 million of devalued bonds sold to retail clients in 1989 is presented. Nomura's action appears to be an effort to placate retail investors, who were not properly informed of the investment risks they were taking when they bought the bonds, which were concocted to raise cheap money for US real estate firms, with Nomura as the sole underwriter. Japanese retail investors subsequently found themselves with devalued bonds when the US recession caused real estate markets to plummet.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Back to basics: Goldman Sachs resets its course in Asia
Article Abstract:
Goldman Sachs in Hong Kong is returning from its bold style and overblown dreams to the more sober methods and realistic projections that characterize its base New York operations. Under Moses Tsang and in cooperation with T T Tsui, Goldman's Hong Kong devoted itself to mainland China deals that it could not yet understand, and encountered many disasters. In the wake of a troubled 1994, revenues are not meeting expenses, and Tsang has been replaced by the more conservative Mark Evans for an all-Asia emphasis.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Who's counting?
Article Abstract:
There are still uncertainties surrounding the position of brokerage Peregrine Investment Holdings in Indonesia. It admits that it has made losses in Indonesia, but the extent of its losses remains unclear. It made provisions of $60 million when it closed its accounts for 1997 on Nov 30, 1997, but now concedes that it may have to increase provisions. It also admits that it holds $270 million in promissory notes issued by Indonesian taxi concern Steady Safe.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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