2009年7月11日星期六

The Hong Kong Golf Club

The Royal Hong Kong Golf Club was formed on Friday 10th May 1889 by "thirteen golfing enthusiasts". This group had difficulty finding any open land suitable for golf, but eventually obtained permission to play at Happy Valley.

This area was used for football, polo, hockey and military parades, so the golfers had to take their turn at using the ground. Due to the other uses they were not permitted to construct bunkers, greens and tees. However, this was overcome by putting down nets for bunkers, whilst granite setts were used for the hole.

By 1891 the membership had grown to over 100, so a small shed was built as a Clubhouse where refreshments were served. Due to the "crowded conditions", from 1896 the ladies were only permitted to play golf on a very restricted basis.

As the pressure on starting times grew, the Captain and Club officials were forced to find an additional location. They found Deep Water Bay, which besides providing an area for a small course also provided perfect bathing.

At this time, Deep Water Bay was only accessible by launch from Victoria Harbour.

The first lease for the land at Deep Water Bay was agreed with the Government in September 1898. A Clubhouse was erected in this same year. Members used to ride round to the course in boats or ride ponies over Wong Nei Chong Gap, whilst the caddies walked carrying the clubs and picnics.

In 1904 Happy Valley was turned over exclusively to the Golf Club, except for Wednesdays and Saturdays when soccer and cricket were played. Ladies were even allowed to play on a Sunday.

Between 1906 and 1910 E.R. Halifax was the District Officer North at Taipo and he used to shoot and walk over Fanling. With his foresight and a few others, protracted negotiations took place with the Government and local farmers to secure sufficient land to build a full 18 holes. This was in 1911.

The Club then gradually moved from strength to stength. The Old Course was laid by the end of 1911 and additional land was acquired in the late 1920's for the New Course which was opened for play in November 1931.

The end of the War saw the Club virtually bankrupt with the courses at Fanling and Deep Water Bay in very poor condition. However, things moved ahead with strong support from members and local companies, to the extent that a third course, the Eden, was added in 1970.

The quality of The Hong Kong Golf Club is such that it has been the home of The Hong Kong Open since the tournaments' inception, boasting Champions with internationally famous names, such as Peter Thomson (1960, 1965 and 1967), Mr Lu Liang-Huan (1959 and 1974), Tom Watson (1992) and Jose-Maria Olazabal (2001). The Club hosted the Eisenhower and Espirito Santo Trophies in 1984, and in recent years was chosen as the site for the Asian Zone qualifying rounds for the Dunhill Cup.

The first Johnnie Walker Classic in Asia was played here in 1990, won by Nick Faldo after shooting a course record 62. Not to be outdone, Bernhard Langer shot a 63 in winning the Hong Kong Open the following year.

The Club celebrated its Centenary in 1989 and has entered its second hundred years recognised as one of the leading golf clubs worldwide. In 1996, at the annual General Meeting of the Club, the Royal nomenclature was dropped. The Club is now known as The Hong Kong Golf Club.

Its three full 18 hole courses at Fanling and a 9 hole Par 3 course at Deep Water Bay, along with its swimming pools, tennis courts, excellent restaurants and top class accommodation, have made The Hong Kong Golf Club one of the premier golfing complexes to be found anywhere.

Made in Hong Kong film fest starts tonight

"Made in Hong Kong film fest starts tonight | AboutHK.Com - more information about HK"
Brian Papajcik

The Smithsonian Institute's Freer and Sackler galleries will kick off its 14th Annual Made in Hong Kong film festival tonight with a 7:00 p.m. screening of Sparrow, a noirish comedy from director Johnnie To.

Hong Kong cinema burst into the American consciousness in the early 1990s with film festival favorites like Wong Kar-Wai's Chungking Express and In the Mood for Love. Filmmakers like Quentin Tarantino endorsed these films as among their favorites and the loyal followers of these auteurs similarly indulged.

Many films from Hong Kong filmmakers have been slated to be remade in Hollywood. The most notable of these is probably Martin Scorsese's The Departed, a remake of Andrew Lau and Alan Mak's Infernal Affairs trilogy. American audiences are also familiar with directors John Woo (Hard Boiled, Face/Off) and Stephen Chow (Shaolin Soccer, Kung Fu Hustle), and actors Jackie Chan and Jet Li.

The festival offers a variety of genres throughout its run. All films are shown in the Meyer Auditorium at 7:00 p.m. on Fridays and 2:00 p.m. on Sundays. Screenings are free, but tickets are required and may be picked up from the theater an hour before the show.

Made in Hong Kong film fest starts tonight

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2009年7月10日星期五

Made in Hong Kong film fest starts tonight

"Made in Hong Kong film fest starts tonight | AboutHK.Com - more information about HK"
Brian Papajcik

The Smithsonian Institute's Freer and Sackler galleries will kick off its 14th Annual Made in Hong Kong film festival tonight with a 7:00 p.m. screening of Sparrow, a noirish comedy from director Johnnie To.

Hong Kong cinema burst into the American consciousness in the early 1990s with film festival favorites like Wong Kar-Wai's Chungking Express and In the Mood for Love. Filmmakers like Quentin Tarantino endorsed these films as among their favorites and the loyal followers of these auteurs similarly indulged.

Many films from Hong Kong filmmakers have been slated to be remade in Hollywood. The most notable of these is probably Martin Scorsese's The Departed, a remake of Andrew Lau and Alan Mak's Infernal Affairs trilogy. American audiences are also familiar with directors John Woo (Hard Boiled, Face/Off) and Stephen Chow (Shaolin Soccer, Kung Fu Hustle), and actors Jackie Chan and Jet Li.

The festival offers a variety of genres throughout its run. All films are shown in the Meyer Auditorium at 7:00 p.m. on Fridays and 2:00 p.m. on Sundays. Screenings are free, but tickets are required and may be picked up from the theater an hour before the show.

Made in Hong Kong film fest starts tonight

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Hong Kong Disneyland expansion financing approved

"Hong Kong Disneyland expansion financing approved | AboutHK.Com - more information about HK"
Hong Kong Disneyland expansion financing approved A Hong Kong legislative committee today approved the financial terms for a major expansion of Hong Kong Disneyland, representing another milestone in plans to add three new areas to the park by 2014.

Disney will invest about $448 million in the construction and swap its outstanding loans totaling about $353 million into additional equity in a joint venture company, Hong Kong International Theme Parks. The Hong Kong government will retain the majority ownership in the venture, however.

The deal would expand the park by increasing the number of theme areas to seven from four over the next five years, tackling criticism that the world's smallest Disneyland did not offer enough attractions. Two themed areas — Grizzly Trail and Mystic Point — will be exclusive to Hong Kong, and a third, Toy Story Land, will be the only attraction of its kind in Asia for the first five years after its opening.

"This substantial investment represents our continued commitment to and confidence in Hong Kong Disneyland and solidifies our partnership with the Hong Kong government, helping assure the resort's long-term success," said Jay Rasulo, chairman of Walt Disney Parks and Resorts.

The announcement comes at a time when Hong Kong Disneyland could soon face a major competitor in Shanghai, which is still in negotiations with Burbank-based Disney to open a much larger $3.59-billion theme park as early as 2014.

Dawn C. Chmielewski

Photo: Mickey Mouse wears a Chinese New Year costume and hits the drum during a parade at Hong Kong Disneyland. Credit: Ym Yik / EPA

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2009年7月9日星期四

MHCB Hong Kong To Provide RMB-Denominated Trade Transactions

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MHCB Hong Kong To Provide RMB-Denominated Trade Transactions

Staff Reporter

Mizuho Corporate Bank's (MHCB) Hong Kong Branch concluded an agreement with the Bank of China (Shanghai Branch) concerning the opening of trade settlement accounts to handle RMB-denominated trade settlement transactions.

Previously, trade settlement with Chinese companies had to be carried out using the US dollar or other foreign currencies. However, following this agreement financing and settlement of trade transactions with China can be denominated in RMB.

The bank claims as part of the internationalization of the RMB, the People’s Bank of China announced a pilot program allowing RMB-denominated trade settlement between designated companies in Shanghai and in four major cities of Guangdong Province and Hong Kong, Macao, and ten ASEAN countries, starting on July 1, 2009.

The bank states the excluding Chinese banks, MHCB is the first group of banks to commence this RMB settlement business. MHCB expects that this will provide faster settlement for cross-border trade with China, by reducing RMB foreign-exchange risk, and enable funds management for customers who wish to develop and expand transactions with the Designated Companies.

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Hong Kong SFC Bans Ex-Goldman Banker For 2 Yrs On Unauthorized Trade

"Hong Kong SFC Bans Ex-Goldman Banker For 2 Yrs On Unauthorized Trade | AboutHK.Com - more information about HK"

Hong Kong SFC Bans Ex-Goldman Banker For 2 Yrs On Unauthorized TradeDow Jones

Hong Kong's securities regulator said Thursday it banned a former Goldman Sachs Group Inc. (GS) private banker from the local industry for two years, after she admitted entering into a transaction for her client without consent.

The Securities and Futures Commission said in a statement Ronnie Wong entered into a transaction involving accumulators on behalf of her client without the client's knowledge and authorization.

The transaction, which had a total exposure of HK$13.8 million, was entered into in November 2007. Wong's client complained to the SFC about the unauthorized trade in March 2008.

A person familiar with the situation on Thursday identified Wong's client as Joyce Tsang, founder of cosmetics and beauty-products retailer Modern Beauty Salon Holdings Ltd. (0919.HK).

An accumulator is a financial derivative product used to accumulate positions of underlying assets such as stocks and currency over time.

Dozens of Hong Kong investors complained to regulators and legislators about the misselling by investment banks of accumulators after they lost money in those financial products as the global financial crisis unfolded last September.

In reaching its decision to ban Wong, the SFC said it took into account Wong's cooperation with the SFC investigation, and that she didn't intend to mislead her client.

Wong couldn't immediately be reached for comment.

-By Jackie Cheung, Dow Jones Newswires; 852-2802-7002; jackie.cheung@ dowjones.com

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US Treasury official presses Hong Kong bankers to help curb NKorean bank access

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US Treasury official presses Hong Kong bankers to help curb NKorean bank accessJEREMIAH MARQUEZ, AP Business Writer

A top U.S. Treasury official met with Hong Kong regulators and bankers Thursday as part of an effort to keep North Korea from using the international financial system to fund its nuclear program and other illicit activities.

Stuart Levey, a U.S. Treasury undersecretary who oversees the department's terrorism and financial intelligence section, met with officials from Hong Kong's de facto central bank, the Hong Kong Monetary Authority, the bank said in a brief statement to The Associated Press.

The authority refused to release details of the talks.

Levey was also meeting with executives from HSBC, the giant London-based lender with major operations in Hong Kong and elsewhere in Asia, according to a person familiar with the matter. The person spoke on condition of anonymity because of the sensitivity of the situation.

The meeting was "to remind people that there are regulations," the person said.

Levey traveled to China and Hong Kong this week to gain support for U.S. initiatives to curb North Korea's access to banks and businesses to buy and sell missile and nuclear technology. He arrived Monday in China and was meeting with government officials and private sector executives Wednesday through Friday.

However, at least one Hong Kong-based bank, the Bank of East Asia, declined to meet with Stuart.

"He requested a meeting with us, but unfortunately we were not able to meet with him," said the bank's chief executive, David Li. "We have nothing to do with North Korea."

A Treasury spokesperson did not immediately return a message seeking comment.

The international community has been struggling to rein in North Korea since the reclusive totalitarian state conducted a nuclear test in May.

The U.N. Security Council last month adopted tougher new sanctions, which North Korea defied last week with missile launches.

U.S. officials have gone after North Korea's funding before.

In 2005, the U.S. imposed financial restrictions on Banco Delta Asia, a bank near Hong Kong in the Chinese territory of Macau, over allegations it helped North Korea with money laundering and other illicit activities.

The move effectively cut Pyongyang off from the global financial system, analysts say, because banks in other countries, including North Korean ally China, did not want to jeopardize access to the U.S. financial system.

The restrictions were lifted in 2007 to nudge North Korea back to stalled nuclear talks.

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2009年7月8日星期三

W Hotel sold to Hong Kong company

"W Hotel sold to Hong Kong company | AboutHK.Com - more information about HK"

W Hotel sold to Hong Kong companyJames Temple

Starwood Hotels & Resorts Worldwide Inc. has agreed to sell the W Hotel in San Francisco to a Hong Kong investment company for $90 million, representing a more than 50 percent drop from peak hospitality property values set two years ago.

The publicly traded company based in White Plains, N.Y., said in a statement it pursued the sale to reduce its debt. Keck Seng Investments Ltd. is expected to close on the deal at the end of the month.

Starwood, which opened the upscale, 423-room hotel at the crest of the dot-com boom in 1999, will continue to operate it as a W Hotel under a long-term management agreement. General Manager Michael Pace couldn't immediately be reached for comment.

The high-water mark for San Francisco hotel sales was set around April 2007, when Taj Hotels Resorts and Palaces based in Mumbai, India, bought Campton Place from Kor Hotel Group of Los Angeles for about $58 million. That amounted to more than $500,000 per room, nearly 60 percent more than the W's "per-key" price of less than $213,000.

The price reflects continuing weakness in the hospitality sector and tightness in the credit markets, said Mark McDermott, senior managing director of San Francisco hotel advisory firm PKF Capital. Hotel occupancy levels in the region fell 12.6 percent from last year and room rates declined 11.7 percent, the company reported.

Few hotel properties have been sold in the past few years, but the market has begun to loosen in recent months. Notably, San Francisco investment fund Geolo Capital bought the Carmel Valley Ranch resort from Blackstone Group for $20 million last week.

"We've finally basically bridged the buyer-seller gap, with sellers' expectations falling to levels where buyers are confident enough" to pursue deals, McDermott said. "We would expect this type of activity to represent, hopefully, the start of folks dipping their toes back into the water."

Jones Lang LaSalle Hotels represented Starwood, which listed the W hotel for sale late last year.

E-mail James Temple at jtemple@sfchronicle.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

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Hong Kong human swine flu cases exceed 1,000, government says

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James Peng | Bloomberg

Hong Kong's human swine flu cases surpassed 1,000 Tuesday after 41 new cases were reported, the city's Department of Health said in a statement on the government Web site. The Asian city has 1,014, the release said.

Hong Kong human swine flu cases exceed 1,000, government says

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Las Vegas Sands May Raise $2 billion in Hong Kong

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 Las Vegas Sands May Raise $2 billion in Hong KongFrederik Balfour

Sheldon Adelson’s Las Vegas Sands (LVS) could raise $2 billion to finance its Macao operations through a Hong Kong IPO soon, said Michael Leven, company president and CEO. He told Bloomberg today in an interview in Singapore that the company will decide this month whether to list its shares.

A listing could provide a serious revival of fortunes for Adelson’s plans in Asia. Last fall he halted construction of new casinos in Macao, and he has been trying, unsuccessfully, to sell his retail properties adjacent to the Venetian Macau and Four Seasons Hotel. An IPO in Hong Kong spinning off Macao assets would ensure the parent company has enough cash to complete its $5.5 billion Marina Bay Sands casino project due to open in Singapore next year.

Raising the money in Hong Kong seems like a good bet. The local IPO market is roaring, and Hong Kong investors would love for a way to benefit from Macao’s growth. “I definitely think there is an appetite,” says Aaron Fischer, gaming analyst with regional brokerage CLSA. “Macao may not be looking so hot because of swine flu, but if you take a view longer than six months, fundamentals are improving.” Despite a decline in visitors and gaming revenues this year, Macao still tops the Las Vegas strip in terms of gaming revenues, and its long run prospects are excellent.

Fischer figures that in the best of all worlds, Adelson would be able to find a strategic investor from either Hong Kong or China who would be an asset in dealing with Beijing and Macao regulators. Local understanding is certainly something casino tycoon Stanley Ho, as well as his son Lawrence Ho, whose City of Dreams casino (MPEL) opened in June,
and daughter Pansy, who has a joint venture with MGM Mirage,(MGM) have going for them.

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2009年7月7日星期二

AIA Appoints Jacky Chan As Hong Kong

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AIA Appoints Jacky Chan As Hong KongHONG KONG -(Dow Jones)- American International Assurance Co., the Asian life insurance unit of American International Group Inc. (AIG), has appointed Jacky Chan as chief executive of its Hong Kong and Macau operations, a person familiar with the situation said Tuesday.

Chan, currently chief executive of AIA's mainland China operation, will replace Derek Yung, the person said, adding that the effective date of the appointment will depend on regulatory approvals.

Chan will step down as chief executive of the mainland operation when his appointment is approved, the person said. Chan, who was born in Hong Kong, joined AIA in 1988, the person added, without giving further details.

AIA is mulling a public listing in Asia as part of AIG's efforts to repay a government bailout.

-By Aries Poon, Dow Jones Newswires; 852-2832-2332; aries.poon@dowjones.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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HK stocks climb 0.7 pct

"HK stocks climb 0.7 pct | AboutHK.Com - more information about HK"

HK stocks climb 0.7 pctHONG KONG (Reuters) - Hong Kong shares gained 0.7 percent as investors bought selectively, even as the lack of conviction in a global economic recovery kept turnover thin.

A dry spell for positive news on the global economy has forced fund managers into wait-and-see mode following a four-month winning stretch by the market.

"Investors are still hesitant to give up on the market and miss their chance to capture this rebound, but with overseas markets losing momentum there is a total lack of direction," said Ben Kwong, chief operating officer with KGI Asia.

Here are the index moves and top stock moves by midday-

* The benchmark Hang Seng Index .HSI was up 0.7 percent at 18,097.08, with HSBC Holdings (0005.HK) leading gains with a 1.6 percent jump.

* The main index has been hovering between 17,800 and 18,200 points since late last week, but investors anticipate a bigger correction in the event of news that challenges the assumption of a gradual recovery in the global economy.

Analysts see the next major support for the index at around 16,000 points, close to its 38.2 percent Fibonacci retracement since the market bottomed in March and the double peak high it hit in April.

* China Unicom (0762.HK), the country's second-largest wireless service provider, rose 4.6 percent on speculation it was close to signing a deal to launch Apple's (AAPL.O) popular iPhone handset in China.

* The China Enterprises Index .HSCE, which represents top locally listed mainland Chinese stocks, had risen 0.5 percent to 10,877.22.

* Cathay Pacific (0293.HK) jumped 5.9 percent to HK$10.86 after JP Morgan raised its rating on the stock to "overweight" from "underweight" on expectations that the airline's earnings outlook will become more positive.

The brokerage increased its target price to HK$13 from HK$7, saying Asia's third-largest airline would outperform peers with a marginal profit in 2009, helped by better average loads, cost-cutting measures including capacity rationalization, and mark-to-market fuel hedging gains.

* China Mengniu Dairy (2319.HK) gained after it said it would raise HK$3.058 billion ($394.6 million) from a share sale to China National Oils, Foodstuffs and Cereals Corp (COFCO) and Hopu Investment Management. Shares in the company, which saw sales drop sharply following last year's tainted milk scandal, were up 2.4 percent at HK$19.56.

* Huadian Power (1071.HK) (600027.SS) jumped 5.1 percent to HK$2.69 in Hong Kong and 7.7 percent to 5.71 yuan in Shanghai after it said it would acquire 70 percent stakes in two in Shanxi-based coal miners for about 760 million yuan ($111.2 million) to ensure coal supply to the company's power plants.

* Sportswear maker Li Ning (2331.HK) rose 1.4 percent after it acquired Kason Sports, one of the top three badminton equipment brands in China, for a total 165 million yuan ($24.15 million).

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BOC Investment To Buy Shares In BBMG Hong Kong IPO

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BOC Investment To Buy Shares In BBMG Hong Kong IPOHONG KONG -(Dow Jones)- China Life Insurance Co. (LFC) and a unit of Bank of China Ltd. (3988.HK) will each subscribe to US$50 million worth of shares in BBMG Group Corp.'s Hong Kong listing as cornerstone investors, a person familiar with the situation said Tuesday.

China Life is the country's biggest life insurer by premiums, while Bank of China Group Investment Ltd., or BOC Investment, is a Hong Kong-based investment management company wholly owned by Bank of China.

BBMG, a building materials producer, recently started pre-marketing its US$700 million initial public offering, people familiar with the situation said Monday.

The Beijing-based company plans to sell 933 million shares, or 25% of its enlarged share capital, to fund its expansion plans and replenish working capital, one of the people said.

BBMG plans to start bookbuilding July 13 and list on the Hong Kong bourse July 29, another person said.

J.P. Morgan Chase & Co. (JPM), Macquarie Group Ltd. (MQBKY), and UBS AG (UBS) are the underwriters of the IPO, the people familiar with the situation said Monday.

-By Jeffrey Ng, Dow Jones Newswires; 852-2802-7002; jeffrey.ng@dowjones.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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Hong Kong Confronts Youths' Abuse of Animal Tranquilizers

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Hong Kong Confronts Youths' Abuse of Animal Tranquilizers

Reuters - Students exchange food during lunch at the Christian Zheng Sheng College, a drug rehabilitation center, on Hong Kong's Lantau Island. The use of psychotropic drugs has soared in Hong Kong in recent years. The primary drug being abused is ketamine, an animal tranquilizer that is produced illegally in China and Hong Kong.

The social problem gained prominence last month after groups of students were found dazed and unconscious at beaches and in parks.

According to local newspapers, 20 percent of Hong Kong's more than 500 secondary schools had sought help on managing students with drug problems. Social workers and academics have described encountering addicts as young as 9.

Zheng Sheng, with 120 students, operates out of a small shed that serves as a canteen, classroom and study area at different times of the day. Its principal, Alman Chan, is trying to get more resources, arguing that education, not punishment, is the only way to get young abusers back on track. "Schooling gives them a chance at life, empowering them, reconnecting them with society. Schooling creates a new status: They are students, not inmates," Chan said.

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2009年7月6日星期一

Hong Kong Jails Man for 3 years for participating in Martin Lee Plot

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Hong Kong Jails Man for 3 years for participating in Martin Lee Plot

Ho Wai-Kam who testified against a Chinese national in prison for plotting to shoot former Hong Kong Democratic Party Chairman Martin Lee, was today jailed for 3 years in the possession of a firearm without a license.

Ho, with a pistol and ammunition from the mainland China in Hong Kong and up to them to Nanhua Huang, Deputy High Court Judge Peter Line said today in court. Ho cooperation and testimony against Huang was considered, with the offense with a possible 12-year prison term, said Line.

Huang, convicted on a charge of "carrying arms and ammunition with intent to commit an arrestable offense," was 16 years in prison by a seven-member jury 3rd July. It was in August with a homemade pistol, ammunition, and the addresses of Lee's office and favorite restaurants. He was also with a photo and address of Jimmy Lai, a friend of Lee.

Lee and Lai is known for his criticism of the Chinese government and the ruling Communist Party of attitude towards the year 1989 against the demonstrators in Tiananmen Square. Both have said they were not aware of why someone would act against them.

Hong Kong pro-democracy advocates and lawyer Albert Ho suffered a broken nose and detached retina after the attack in August 2006 by three men who batons and baseball bats. In 2002, two people died in separate execution-style murders in Hong Kong, one of the murder, as he ate breakfast in the town of Luk Yu Teahouse.

The case is Hong Kong Special Administrative Region v. Ho Wai-Kam, HCCC11/2009, Hong Kong Court of First Instance.

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Amherst Holdings, LLC opened presence in Hong Kong

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Amherst Holdings, LLC opened presence in Hong KongAmherst Holdings, LLC, a leading financial services provider for institutional investors in the mortgage industry, announced today that it has established a new subsidiary in Hong Kong, Amherst International Limited (AIL). The company was formed to provide the business with institutional investors throughout Asia and the leverage effect Amherst knowledge of fixed income securities, particularly in the Residential Mortgage-Backed Securities (RMBS). Through its new subsidiary, Amherst is a deepening of relations with its global customers and offer them better access to its disciplined investment approach and leading analytics.

The establishment of Amherst International marks Amherst’s first international venture. AIL is veteran banker Paul Kan, the company as CEO. Mr Kan to Amherst from Lehman Brothers' Hong Kong office, where he worked for several years as Senior Vice President and senior trader of mortgage-backed securities and securitized products for Asia. During his time at Lehman, Mr. Kan was responsible for trade and the coordination the implementation of MBS trading with Lehman's New York trading desks. Prior to joining Lehman, Mr. Kan was a member of the Mortgage Trading Group at Donaldson, Lufkin & Jenrette, where he structured and traded agency and non-GMO agency in New York. He studied at the Massachusetts Institute of Technology with a Bachelor of Science in mathematics and political science.

“Establishing a presence in Hong Kong is an important and exciting milestone for Amherst and one that we have been eagerly anticipating,” said Sean Dobson, Chief Executive Officer of Amherst Holdings. “We see a tremendous potential to grow our business in Asia and establishing a presence in Hong Kong gives us an important inroad into that market. Our clients in Asia will benefit from Amherst’s superior analytic research and our extensive experience with the RMBS market. Paul brings impressive fixed-income experience and an incredible knowledge of the investor landscape in Asia. In Paul, Amherst’s customers in Asia will find a dependable professional with extensive capabilities and access.”

From his office in Pacific Place Three on Queens Road East Hong Kong, Amherst International will focus on facilitating securities transactions in the United States between the Asian and Amherst the broker-dealer, affiliate, Amherst Securities Group, LP. AIL has licenses from the Hong Kong Securities and Futures Commission. The firm expects additional sales to customers throughout Asia, with emphasis on China, Taiwan and Japan. The establishment of the Hong Kong company comes at a time of great momentum in Amherst, which has grown steadily in recent months, after the opening of additional offices in the United States and attracting some of the top sellers, traders and analysts in the industry for RMBS the company.

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