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Temasek Raises ICBC Stake

dancingshoes

Alfrescian
Loyal
we are such loyal friend to china, even superman li ka shing withdrew his investments in china, s'pore is meanwhile investing hard in china. a friend in need is a friend indeed.:biggrin:
 

makapaaa

Alfrescian (Inf)
Asset
It looks like how the FAP used good money to chase after the bad during the Global Financial Crisis all over again.
 

laksaboy

Alfrescian (Inf)
Asset
Let's stand united behind Team Singapore. :biggrin:

Singapore+General+Election+2015+NrJcaICkc5-l.jpg
 

makapaaa

Alfrescian (Inf)
Asset
https://hk.finance.yahoo.com/echarts?s=1398.HK#symbol=1398.HK;range=6m

[h=2]工商銀行 (1398.HK)[/h]-HKSE

前收市價:4.550
開市:4.560
買入價:不適用
賣出價:不適用
1年指標(預估值):不適用
Beta 值:不適用
下一個盈利日:不適用
今日波幅:4.480 - 4.600
52 週波幅:4.300 - 7.100
成交量:277,260,533
平均成交量 (3 個月):339,732,000
市值:1.60T
P/E (ttm):4.610
每股盈利 (ttm):0.973
股利與收益率:0.319 (6.810%)
 

GoldenDragon

Alfrescian (Inf)
Asset
Very easy to invest when money is not yours and there isn't any accountability needed. If make money, blow trumpet. If lose, diam diam.

Fox Li KS is no fool. If he runs, better to follow. But our Mdm does the reverse. Fox Li didnt become rich coz he bonked the right cb. HC got rich because she was bonked by a Lee.
 

frenchbriefs

Alfrescian (Inf)
Asset
China party mouthpiece blasts Asia's richest man Li Ka-shing for being 'ungrateful'

http://www.straitstimes.com/busines...-richest-man-li-ka-shing-for-being-ungrateful

BEIJING (AFP) - The mouthpiece newspaper of China's Communist Party has blasted Hong Kong tycoon Li Ka-shing as "ungrateful" for selling assets on the mainland with the world's second-largest economy facing headwinds.

The 87-year-old, nicknamed "Superman" for his sharp business acumen, has been offloading major property investments in China - where growth slowed to a 24-year low last year and has continued to weaken this year - after investing heavily there in the 1990s.

The move, combined with his selling of assets in Hong Kong, has fuelled speculation that the richest man in Asia is losing confidence in the Greater China region.

The People's Daily said on a verified social media account that China's opening up, vast market and favourable policies had been "the key cornerstone" of Li's success, yet he was now leaving his benefactor in the lurch.

"He shared the prosperity while we had good times but could not beat the odds together with us now that we have difficulties. This is indeed unacceptable emotionally," it said in a commentary Sunday on its account on China's mobile messaging application WeChat, a less formal platform than the printed newspaper itself.

While admitting Li's move may have a "negative impact" on confidence in China, the article sought to downplay concerns.

"China's economy accounts for more than 12 per cent of the world's total... Can the withdrawal of a single businessman affect the fundamentals?" it said.

"We don't need to worry that no investors will come after Li Ka-shing.

"What we can do is not to condescend to persuade him to stay or to hurl invectives out of outrage, but to build the country better to make today's departure tomorrow's regret," it said.

Mr Li, who is currently worth US$32.9 billion (S$46.2 billion) according to the Bloomberg Billionaires index, started out in business as a plastic flower-maker.

He has been reshuffling his business empire since the start of this year and earlier this month announced the merger of his utilities firms, part of an overhaul seen as paving the way for him to hand over the reins to his eldest son Victor, 51, after he retires.

In one of his recent overseas purchases, Mr Li in March acquired British telecom giant O2 from Spain's Telefonica for US$15.2 billion.
 

frenchbriefs

Alfrescian (Inf)
Asset
Very easy to invest when money is not yours and there isn't any accountability needed. If make money, blow trumpet. If lose, diam diam.

Fox Li KS is no fool. If he runs, better to follow. But our Mdm does the reverse. Fox Li didnt become rich coz he bonked the right cb. HC got rich because she was bonked by a Lee.

Li KS must be laughing his ass off when he sold watsons A.S. to ho jinx,making money is so easy when u are the smartest man in the world and there are so many idiots around u.
 

cunnosieur

Alfrescian
Loyal
[video=youtube_share;qosh_MjbsPs]https://youtu.be/qosh_MjbsPs[/video]

Sie gei jing hock chup...

The world is complicated...

Mai luan luan kai...Bo lui ho wa lang e kia soon...

Don't anyhow spend....No money for our children n grand children....
 
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cunnosieur

Alfrescian
Loyal
http://newsoncompliance.com/2014/05/1855/

May 21 (Reuters) – Hong Kong’s securities regulator fined and reprimanded two units of the world’s third-largest bank by value, Industrial and Commercial Bank of China (ICBC), for their roles in the 2009 initial public offering of Powerlong Real Estate Holdings Ltd.

The Securities and Futures Commission (SFC) fined ICBC International Capital Ltd and ICBC International Securities Ltd HK$12.5 million ($1.61 million) each, a tiny fine compared to the bank’s $201.4 billion market value.

The SFC said the two units of ICBC failed to conduct so-called “know-your-client” due diligence on some buyers of Powerlong shares to make sure they were independent of the issuer.

The regulator also said that some buyers were offered margin financing in excess of the buyers’ net worth in a bid to prevent the listing from falling through.

“These failings go to the heart of the sponsor’s obligation to help ensure the integrity of the initial public offering market,” said Mark Steward, the SFC’s head of enforcement said in the statement.
 

cunnosieur

Alfrescian
Loyal
“The banking sector has extended $14 trillion to $15 trillion in the span of five years. There’s no way that we are not going to have massive problems in China,” she says.

Behind these problems lie a baffling range of “trusts”, “wealth management products” and foreign-currency borrowings that have allowed indebtedness to expand even as the authorities have attempted to clamp down on mainstream lending by the big banks.

Chu’s warnings have carried particular weight in recent weeks as the Industrial and Commercial Bank of China backed away from a 3bn renminbi (£297m) trust it had sold to its customers. The move prompted fears this could become China’s “Bear Stearns moment”, a reference to the abandonment by the defunct US broker of several sub-prime funds in the early stages of the West’s 2007 credit crisis.

In the event, a default of the ICBC trust was averted, but Ms Chu remains clear that the linkage between the official banking system and its shadow twin remains a threat.

http://www.telegraph.co.uk/finance/...he-15-trillion-shadow-over-Chinese-banks.html
 

cunnosieur

Alfrescian
Loyal
Aug. 1 (Bloomberg) -- Industrial & Commercial Bank of China Ltd., the country’s largest lender, and Bank of China Ltd. will be fined for failing to make timely reports to authorities about fraud cases, Shanghai Daily reported.

The lenders, along with China Minsheng Banking Corp. and a rural credit cooperative, may receive additional penalties for breaching disclosure rules, the newspaper said today, citing a notice issued to financial institutions by the China Banking Regulatory Commission.

Local media had extensive coverage on cases including loansharking by bank employees and fundraising fraud before authorities were briefed on the matters, Shanghai Daily said.

Spokesmen for ICBC and Bank of China declined to immediately comment on the report, asking not to be named because of bank policy. Three phone calls to the CBRC’s press office and two calls to Minsheng went unanswered.

http://www.bloomberg.com/news/artic...nk-of-china-fined-on-fraud-reports-daily-says
 

cunnosieur

Alfrescian
Loyal
SFC reprimands and fines ICBC International Capital Limited and ICBC International Securities Limited $12.5 million each for failures related to IPO shares subscription
21 May 2014




The Securities and Futures Commission (SFC) has reprimanded ICBC International Capital Limited (ICBCI Capital) and ICBC International Securities Limited (ICBCI Securities) (collectively ICBCI) and fined them $12.5 million respectively in relation to their role in the initial public offering of Powerlong Real Estate Holdings Limited (Powerlong) in 2009 (Notes 1, 2, 3 & 4).

An SFC investigation into the practice and procedure adopted by ICBCI found that it had:

failed to conduct customer due diligence and perform ongoing scrutiny of accounts of certain placees referred by Powerlong (Placees) to ensure that the transactions being conducted were consistent with its knowledge of the Placees, taking into account their source of funds (Note 5);
turned a blind eye to the lack of independence of Placees for the subscription of Powerlong’s shares allotted through its listing (the Offer Shares) on The Stock Exchange of Hong Kong Limited (SEHK);
facilitated the listing of Powerlong by ensuring that margin financing would be extended to the Placees despite its suspicion of their non-independence; and
failed to use reasonable efforts to ensure that submissions to the SEHK were true, accurate and not misleading.
An SFC investigation revealed that the Placees were referred by Powerlong to ICBCI Capital, which in turn referred them to its affiliate ICBCI Securities to open accounts for the subscription of the Offer Shares. ICBCI Securities accepted the subscriptions of the Placees without conducting know-your-client due diligence as required under the Code of Conduct to either ascertain their financial situation or confirm their independence from Powerlong (Note 6).

http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=14PR58
 

cunnosieur

Alfrescian
Loyal
ICBC chief on corruption charges


The head of commercial banking at ICBC's Hong Kong retail banking subsidiary has been charged by the Independent Commission Against Corruption with accepting HK$3.3 million worth of bribes from a customer for extending due dates on loans.


Derick Chan Po-fui, 50, who has worked at the mainland banking giant's Hong Kong-listed subsidiary ICBC (Asia) since 2007, was arrested on Tuesday for allegedly accepting the bribes from local businessman Zeng Wei.


Chan Yick-yiu, 43, ICBC (Asia)'s former head of real estate and finance, who is now an assistant general manager at Hong Kong's Wing Lung Bank, was also charged with accepting a HK$2.5 million reward from Zeng in return for helping him prepare loan applications. Zeng, 47, who owns a private company, United Win Holdings, was charged with offering an advantage to an agent.


This is the first major corruption scandal to hit the mainland banking sector since the biggest state owned lenders - ICBC, Bank of China and China Construction Bank - listed their shares in Hong Kong between 2005 and 2006.


China Construction Bank's former president Zhang Enzhao was sacked in early 2005, nine months before the bank's Hong Kong stock offering. Zhang took 19 bribes worth 4.18 million yuan between 2001 and 2004 from a US supplier to the bank, a mainland court ruled in 2006. He was sentenced to 15 years in prison.

http://www.scmp.com/article/726833/icbc-chief-corruption-charges
 
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cunnosieur

Alfrescian
Loyal
China: Senior ICBC Banker Zhang Hongli Wrapped Up in Two Lawsuits
http://ethixbase.com/china-senior-icbc-banker-zhang-hongli-wrapped-up-in-two-lawsuits/


December 18th, 2014 Asia, Asia Stories, China Stories, Trending Stories

A senior banker at a state-owned Chinese bank is embroiled in two lawsuits, one in which he is defending himself against his former employer and another in which he is demanding his money back from his personal bank, which he alleges lost a part of his wealth with risky bets.


Zhang Hongli is now a top executive at Industrial & Commercial Bank of China Ltd. , China’s largest state-owned bank by assets, and is one of the best known bankers in the country, having previously held top China banking jobs at Deutsche Bank AG and Goldman Sachs Group Inc. He is also one of the few executives from a foreign bank to have served on the Chinese People’s Political Consultative Conference, a government advisory body.


He is being sued by Deutsche Bank for $6.3 million that the German lender claims it is owed after court documents allege he “induced” the bank to transfer him money at an unspecified date before he left the bank in 2010 to join ICBC as executive vice president.
 

cunnosieur

Alfrescian
Loyal
Mar 27, 2015 11:33am


ICBC no longer in high-growth phase, chairman says




The golden age of fast growth for Industrial and Commercial Bank of China Ltd. (01398.HK) has ended, chairman Jiang Jianqing said.

He cited mainland China’s sluggish economy and a high comparison base as the world’s largest bank reported growth in earnings fell last year to a single-digit percentage for the first time in nine years.

It posted 275.8 billion yuan (US$44.4 billion) in net profit for 2014, up 5 percent from the previous year.

The bank cut its dividend by 2.4 percent, its payout ratio slipping to 33 percent from 35 percent.

Since its listing in 2006, ICBC had maintained double-digit earnings growth, reaching 65 percent in 2007 and falling to 16 percent in 2009 amid the global financial crisis.

The country’s economy is in a phase of reducing excessive capacity, leverage and inventory.

Certain problems in such processes will funnel through to the banking system, Jiang said.

http://www.ejinsight.com/20150327-icbc-no-longer-high-growth-phase-chairman-says/
 
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