MGM China Holdings, a casino joint venture between US-based MGM Resorts International (MGM.NYSE) and Hong Kong tycoon Stanley Ho’s daughter Patsy Ho, intends to raise between US$1-1.5 billion on the Hong Kong exchange, Dow Jones reported, citing a person familiar with the situation. The new target is up to three times higher than its original […]
Category: Investment
A Chinese forestry company with backing from Western private-equity funds reported a 2010 loss of US$417 million after drastically lowering the value of its chief assets, the latest in a string of accounting and transparency problems at Chinese firms, the Wall Street Journal reported. China Forestry Holdings Co (0930.HK, CHFY.OTC), which had received early investments […]
Chinese businesses are set to spend more than US$1 trillion on overseas assets by 2020 as they work to secure resources and productively deploy huge cash reserves, according to a report published by the Asia Society, the Financial Times reports. Chinese firms had invested around US$230 billion offshore by the end of 2009, roughly the […]
South Korea’s central bank has applied to buy renminbi-denominated assets in China under the qualified foreign institutional investor (QRII) program, paving the way for further investment in the mainland, the Financial Times reports. The QFII program currently allows around 100 overseas investment groups to buy equities and bonds on the mainland, including central banks in […]
Source: Financial Times