CONFIDENTIAL
say that cover is currently available for further
business in Hong Kong subject to underwriting, budget and exposure constraints. Cover for major projects like the
Airport and Black Point may however have to be considered
individually because of their size; and
say that the limit of ECGD cover for business in
Hong Kong has recently increased (although figures are not customarily provided) and that ECGD looks forward to close involvement in future project activity in Hong
Kong.
Jardine Matheson
Mr Henry Keswick has been pressing for the Jardine
Matheson Group of companies to be given a "trading-only"
listing in Hong Kong and exemption from the Hong Kong
Takeover Code. If this is not granted they have said they will delist. Their publicly voiced concern is over
how the Takeover Code could be abused post-1997 (memories of Shanghai in the 1950s). Less charitable opinion
suggests that their motives are more commercial. Some
feel they have already decided to delist and are simply looking for a plausible excuse.
Jardines came close to delisting in March this year but an agreement with the Governor appeared to give all parties concerned until the end of the year to devise suitable arrangements. Recently however Mr Keswick has made it clear that he feels that matters are going badly:
unless Hong Kong Government meets their demands by
September, they will announce a decision to delist.
CONFIDENTIAL