Rich in reserves: Hongkong reveals its robust financial health
Article Abstract:
The Hong Kong government revealed on Jul 15, 1992, that its Exchange Fund had foreign-currency assets amounting to HK$225.3 billion ($28.9 billion) at the end of 1991. This amount excluded Hong Kong-dollar holdings which would bring the total to HK$236.1 billion. Analysts speculated that the timing of the disclosure was linked to either the stalled development of a new Hong Kong airport or to the transparency efforts by Gov Chris Patten. Hong Kong officials disputed the speculations. Until the recent disclosure, the Hong Kong government had always kept the size of its reserves a secret.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Niche player: Hongkong LCD maker exploits proven technology
Article Abstract:
Hong Kong-based Varitronix Ltd may be classified as a small manufacturer of liquid crystal displays (LCDs) but it is holding its own niche in a market dominated by some of the largest high technology companies in the world. While its dominant competitors are spending huge amounts of capital on research, Varitronix is focusing on specific applications for its monochrome LCDs. Varitronix LCDs are used in Ferrari dashboards, Ericsson cellular phones and Alcatel toll gates. Speciality products comprise 2/3 and 3/4 of Varitronix's business.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Going, going, gone: manager Murray quits Hongkong's Hutchison
Article Abstract:
Simon Murray, managing director of Hutchison Whampoa, resigned due to disagreements with the Hongkong conglomerate's chairman and controlling stockholder, Li Ka-shing. Murray had caused Hutchison to invest in British telecommunications ventures that proved to be unprofitable. Li opposed Murray's decision and preferred to invest in China. Murray will probably become director of Deutsche Bank's Asian concerns and will be replaced by Canning Fok, an associate of Li's.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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