Local stocks turned sluggish yesterday, shedding 11 points even after Wall Street and other Asian rose.迷你倉 Technically, the Hang Seng Index is likely to rise further but the poor performance of Shanghai A shares has hurt local sentiment . Let's look at China Cinda Asset Management. The bad-loan manager plans to raise HK$18 billion through listing in Hong Kong. It was founded in 1999 to absorb the bad debts of China Construction bank (0939). So far it has bought 396 billion yuan (HK$504 billion) worth of bad debts and undertook debt-for-equity swaps with nearly 400 state enterprises. It now holmini storages company shares with a book value of 44 billion yuan, of which 62 percent are in the coal industry. It has a listed company, China Cinda International Holdings (1111), providing corporate financial services. The stock soared 37 percent yesterday before being suspended. Dr Check does not understand why CCIH rose when its parent Cinda is about to list. Whether investors should subscribe to Cinda's IPO is a difficult decision. Turning bad assets into good and selling them for a profit is no easy task. Dr Check and/or The Standard bear no responsibility for anydecision made based on tthis column. 儲存
- Nov 26 Tue 2013 10:25
Bad to good formula may not ensure gains
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