רר 2
CONFIDENTIAL COMMERCIAL IN CONFIDENCE
130606
MDHIAN 1172
CONFIDENTIAL
COMMERCIAL IN CONFIDENCE
FM HONG KONG
TO DESKBY 261130Z FCO TELNO 3504
RECE
OF 261026Z NOVEMBER 90
254
la
TOP COPY
HK C 182 12 Q DIST?
2780990
259
PERSONAL FOR PAUL,
PAUL, HKD FROM GOVERNOR
YRTELNO 2195 AND MY TELNO 3417: PADS: PROSPECTS FOR BRITISH FIRMS
FINANCIAL ADVISER FOR PADS
1. EIGHT INSTITUTIONS WERE INVITED TO SUBMIT FORMAL PROPOSALS FOR THE CONSULTANCY OF OVERALL FINANCIAL ADVISER FOR PADS. FOUR BIDS WERE RECEIVED - FROM CHARTERED WEST LB/STANDARD CHARTERED ASIA/S.G. WARBURG: MORGAN STANLEY: HAMBROS: AND PRUDENTIAL ASIA/WARDLEY CAPITAL. BARCLAYS, ROTHSCHILDS AND CHASE MANHATTAN WERE ON THE LIST OF THOSE ASKED BUT DID NOT SUBMIT BIDS.
2. THESE SUBMISSIONS WERE ASSESSED BY A WORKING GROUP COMPRISING REPRESENTATIVES FROM FINANCE BRANCH, ECONOMIC SERVICES BRANCH, MONETARY AFFAIRS BRANCH AND TREASURY BRANCH. ON EIGHT CRITERIA APPRECIATION OF PRINCIPAL ISSUES: OVERALL APPROACH: ADDRESS AT MACRO-LEVEL TO KEY RECOMMENDATIONS OF PROJECT ADVISERS: STANDING AND STATUS OF TEAM LEADERS: QUALIFICATIONS AND EXPERIENCE OF TEAM MEMBERS: EXPERIENCE IN HONG KONG CAPITAL MARKET: TEAMS COMPOSITION AND LOCAL ARRANGEMENTS: AND FIRMS PRESENCE AND REPUTATION IN THE CAPITAL MARKET. THE INITIAL MARKING GAVE STANDARD CHARTERED 450 POINTS: MORGAN STANLEY 416: HAMBROS 382 AND PRUDENTIAL/WARDLEY 380.
3. THE BIDS WERE THEN CONSIDERED BY A PANEL OF BRANCH SECRETARIES UNDER THE CHAIRMANSHIP THE SECRETARY FOR THE TREASURY, WHO ALSO INTERVIEWED TEAMS FROM THE FOUR APPLICANTS. ON THE BASIS OF THE INTERVIEWS, THE WRITTEN SUBMISSIONS AND THE RECOMMENDATIONS OF THE WORKING GROUP, THE PANEL UNANIMOUSLY SELECTED MORGAN STANLEY.
4. THE REASONS FOR THIS CHOICE ARE COMMERCIALLY SENSITIVE. FOR YOUR INFORMATION ONLY, AND NOT TO BE COMMUNICATED, DIRECTLY OR INDIRECTLY, TO INTERESTED PARTIES, MORGAN STANLEY CRUCIALLY SCORED OVER THE CHARTERED GROUP IN THE AREAS OF INTERNATIONAL STANDING AND EXPERIENCE AND IN A COMPARISON OF THE FULL-TIME TEAM
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CONFIDENTIAL COMMERCIAL IN CONFIDENCE
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