Tarnished lustre
Article Abstract:
The Everbright group of companies in Hong Kong have suffered from continuing investment mistakes despite having high-profile connections with mainland China. The experience of Everbright shows that Chinese-owned companies operating in Hong Kong must depend on the expertise and ability of skilled managers instead of political contacts. Most of the firm's top management consists of a rotating group of Chinese officials who lack business experience. Everbright's companies are involved in businesses ranging from manufacturing to property investment and banking.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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Change everything
Article Abstract:
The 1997 currency crisis in Asia has meant that financial markets are more volatile and less certain. Investors can still make good gains in these markets, as is shown by the case of Hendale Asia Investments which has seen a 50% rise in its portfolios, while asset prices in these markets are dropping. Transparent balance sheets have become more important. Currency risk was not given enough weight in Asian borrowing in US dollars and this created an illusion that profits and growth could continue to rise indefinitely.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Comment about this article or add new information about this topic: