1986 Q2 The Bank of
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Communications and the Nanyang Bank
were going
Hanover of the United States to
to collaborate with Manufacturers
introduce a
scheme
for managing the provident
funds of
individual enterprises.
Modern Concepts Company Ltd., with 68% of its
share capital owned
the expanded share
Hong Kong Ltd.
investment of HK$82
Subsequently, Modern
by CMSNC, acquired 61.3% of
capital of the Union Bank of
This involved an initial
million by Modern Concepts.
Concepts subscribed to 100%
of the newly issued convertible preference shares
of the Bank and increased its shareholding in the
Bank to 64.4%. 1% •
Guang Xin Enterprise Ltd., a subsidiary of the.
Guangdong International Trust and Investment (HK)
Corporation (GITIC), joined with Linton Chu and
Company of Hong Kong to form the Guang Lee
Securities Ltd.
This was the third securities
firm in Hong Kong set up by a PRC-interest
enterprise and was the first one established by a
provincial
The firm would
concentrate on share trading, fund management, sub-underwriting and debt financing through the issue of commercial paper.
enterprise.
CITIC (HK) was considering the possibility of
co-operating with other enterprises to set up a
venture capital fund for financing the transfer
of advanced technology into Hong Kong.