BANK OF CREDIT AND COMMERCE
HONG YONG LIMITED
NOTES TO THE ACCOUNTS
(continued)
4. Investments in Securi::ies and Bonds
The Group
The Bank
1970
HK1000
1989 HK$000
1990 HK$000
1989 HX$000
a) Geographical spread.
Hong Kong:
Listed
82,222
84,975
82,222
84,975
Överse:18:
Listed
4,141
4,226
Unlisted
14,984
14,988
8,519
8,521
TOTALS
101,347
104,189
90,741
93,496
b) Nature of. investaents
Trading portfolio
18,620
21,374
18,620
21,374
Investment portfolio
82,727
82,815
72,121
72;122
TOTALS
101,347
104,189
90,741
93,426
·Included in the investment portfolio are listed shares whose value was
market
HK$37.7 million (1989 HK$53.7 million) against the cost stated in the balance sheet of HK$63.6 million (1989 HK$63.6 million). Subsequent to the year end, these shares have been sold yielcing a net loss of HK$5 million which is not deemed material adjustment in these accounts.
for
Included in the portfolic of overseas unlisted investments are shares in group companies stated at cost. Details of these companies are se: out as follows:
COUNTRY OF INCORPORATION/
NAME
OPERATION
PRINCIPAL ACTIVITY
GROUP EQUITY INTEREST
BCC Finance and
Financial
Securities Limited
Thailand
Services
10.0%
* BCC Enterprise
Financial
(Tha:land) Limited
Thailand
Services
49.0%
* IZ Company For Exchange
Financial
SA (Closed) Kuwait
Kuwait
Services
40.7%
* The results of these companies have not been equity accounted for as the d: rectors consider that they are not in a position to exercise significant influence ove the management of these companies.
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