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Hong Kong stock exchange operator launches inline warrants, first new structured product in 13 years as part of plan to be Asia’s asset management hub

The operator of Hong Kong’s tock exchange will introduce inline warrants trading on Thursday, marking the first roll-out of a new structured product in 13 years, part of its three-year plan to diversify into a leading Asian asset management centre.Fifty inline warrants will start trading on Thursday (July 18) on the stock exchange, issued by six banks, BNP Paribas, Haitong, HSBC, JPMorgan, Societe Generale and Vontobel.They are derivative products linked to the Hang Seng Index and the share… Source link

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Macau junket operator Suncity vows to stop extending online betting to mainland China after expose by state media drew heat

Suncity Group Holdings, Macau’s biggest operator of junkets for high roller gamblers, vowed to rein in its online gaming and proxy betting operations in mainland China, days after an expose in Chinese state media accused the company of disrupting China’s financial order.The junket operator of Macau, the only Chinese territory where gambling is legal, had facilitated Chinese gamblers to bet through online casinos in The Philippines and Cambodia, using underground banks to move capital out of the… Source link

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Chinese terminal operator Rizhao Port Jurong’s shares skyrocket in Hong Kong trading debut after retail investors rejected them

Shares of Rizhao Port Jurong, a spin-off of one of China’s largest port operators, skyrocketed by 167 per cent on their Hong Kong trading debut on Wednesday – even after selling just a quarter of its retail shares.The stock soared by 267 per cent to HK$5.5 from its offer price of HK$1.5 at one point in the afternoon, before falling back to end the session at HK$4. The company raised a total of HK$546.7 million (US$69.8 million) of capital through the listing.The stunning debut performance is in… Source link

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Exit Kr Space, enter CEO Suite; Indonesian co-working space operator swoops in to take space vacated by troubled Chinese rival

Indonesian co-working space operator CEO Suite has taken up the slot left vacant by its troubled Chinese rival Kr Space in Hong Kong, wading into a fiercely competitive sector that already boasts the world’s most expensive office address.In a sign of just how heated the market is, the Jakarta-based shared office operator will pay twice the average rent for its 27,000 square foot location in the K11 Atelier commercial tower in Tsim Sha Tsui, its landlord New World Development (NWD) said on… Source link

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China 

China’s rail operator apologises for holiday travel chaos but says it will seek to punish unruly passengers

The company that runs China’s railways apologised on Saturday for the chaotic scenes on trains and at stations during this year’s extended Labour Day holiday, but said it would also consider how passengers who contributed to the disruption should be punished.An estimated 70 million people took rail trips between Tuesday and Saturday, with the peak coming on Wednesday, when a new May 1 record of 17 million passengers boarded trains across the country.The huge crowds, however, created big… Source link

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China 

Singapore’s sovereign wealth fund GIC and Chinese mall operator Grandjoy to kick off China’s first listed real estate trust

Singaporean sovereign wealth fund GIC and its long-term Chinese ally, the mall operator Grandjoy Holdings Group, have been selected for a pilot programme that will allow individual Chinese investors to buy shares in rent-yielding properties for the first time.Grandjoy, the property arm of state-owned conglomerate Cofco, was picked by the securities regulator as one of several firms to try China’s first publicly listed real estate investment trust (Reit), its chief financial officer, Xu Hanping,… Source link

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Hong Kong developer Chinachem sues co-working operator Kr Space for failing to execute One Hennessy lease

Chinachem Group, the chemical producer-turned-property developer, has slapped a law suit on one of China’s biggest co-working space operators for reneging on a contract, according to a writ filed with the Hong Kong High Court.The Hong Kong developer has sued Kr Space, a spin-off of technology platform 36kr.com, claiming HK$500.9 million (US$63.8 million) in damages for breaching a contract to take up seven floors at Chinachem’s One Hennessy building in Wan Chai, according to the writ.Chinachem… Source link

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Not ‘typical foreigners’, says Raffles chairman as Singapore hospital operator bets big on China market

Patience is key to international companies cracking China’s health care market, the world’s second-largest, Dr. Loo Choon Yong, chairman of Singapore-based Raffles Medical Group, said on Saturday.Singapore’s largest private medical services operator, Raffles is betting on mainland China to drive growth amid muted prospects at home. It opened an 800 million yuan (US$119.09 million) fully owned and run hospital in the southwestern city of Chongqing in January, and expects to open a second one in… Source link

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Singapore 

Wet market operator apologises for flyers carrying Hindi instead of Tamil translation, Singapore News

A wet market operator whose flyers drew flak for having a Hindi translation instead of a Tamil one has expressed remorse over his mistake and intends to print apology letters, which will be displayed publicly. The flyers were meant to inform the public about the relocation of the wet market at Admiralty Place mall to a new area next to Woodlands East Neighbourhood Police Centre. The announcement on the flyers was printed in English and translated into three other languages: Chinese, Malay, and what was meant to be Tamil but…

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Embattled pay TV operator i-Cable makes another attempt to turn around a decade of losses with Guangdong network tie-up

I-Cable Communications, Hong Kong’s biggest pay TV operator, on Tuesday formalised a partnership with Guangdong Radio and Television (GRT) that will allow it to air programmes to the Chinese TV group’s customers.But analysts are circumspect about the benefits of the tie-up on i-Cable’s bottom line, saying it is unlikely to yield any long-term “material” benefit.Irene Leung Shuk-yee, chief operating officer of i-Cable, said that the deal with GRT also involves joint production of TV shows,… Source link

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