1980
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LOANS
Bank of China
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Kiu Kwong has bought an 11 per cent share into Continental Can Hongkong. The other shareholders are Swire with 40 per cent and the US Continental group with 49 per cent. The manufacturing company is currently building a $100 million factory in Taipo Industrial Estate.
1978
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1979
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Bank of China
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Submortgages amounting to $10 million repayable in 7 years have been accepted by the Bank of China for four buildings; Glamour Court, Hung Ying House. Kam Wah Building and the Effort Industrial Building. The first three are residential buildings and all four were originally owned by Sun Hung Kai Properties Ltd.
The Bank of China has participated in a syndicated loan of US$42 million to Gloxin, a wholly-owned subsidiary of Sun Hung Kai Securities. The loan is guaranteed by SHK and will be used to finance 75 per cent of the cost of the second tower of the Admiralty Centre.
The loan was arranged by Paribas Asia together with four other inter- national banks. Compagnie Financiere de Paris et des Pays-Bus (Paribas) holds 17.6 per cent of Sun Hung Kai Securities share capital.
The Bank of China has participated as co-manager in a $200 million multi- currency loan to fund the Shangri-la Hotel in Tsim Sha Tsui, with nine other banks.
The Bank of China with Paribas Asia Ltd. arranged a US$145 million loan for Beam Shipping Co. of the Philippines.
A loan for $250 million was raised for Hutchison Whampoa, by the bank of China with Rothschild and other institutions. Chase and WestLB Asia provided $40 million each, the Bank of China $30 million and Rothschild the remaining $15 million.
A $165 million loan to China Cement Company (HK) was arranged by the Bank of China with a group of international banks. Bank of China's share is believed to be $80 million.
China Cement is 40 per cent owned by Kaiser Cement Corporation of the USA and 60 per cent by Forward Industrial Co. Ltd., a joint venture between Cheung Kong, Kiu Yip Investment Corporation and Green Island Cement. Kiu Yip owns 20 per cent of China Cement.
China Development Finance Co. (HK) Ltd., backed by the Bank of China and other leftwing banks, has been set up with a capital of $50 million.
The main function of the finance company, is believed, will be to finance industrial ventures across the border at Shenzhen.
Other Bank of China subsidiaries also registered as deposit taking companies are Chiao Yu Finance Co. Ltd. (owned by Hua Chiao Commercial Bank) and Chiyu Finance Co. (owned by Chiyu Banking Corporation).
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