Amoy Buys Chartered Building
The Standard Chartered Bank has sold its Hong Kong headquarters building for HK$900 million (US$116 million) to Amoy Properties to bolster the bank's capital base. The bank will remain the major tenant of the building which will still be its head office in Hong Kong and will continue to be called Standard Chartered Bank Building.
MTR's Transferable Loan Facility Concluded
The Mass Transit Railway Corporation has announced that its 5-year transferable loan facility has been successfully concluded with the participation of 11 reputable financial institutions. The facility completes the refinancing programme of the corporation for 1992. Its participants included the Hang Seng Bank Limited and a number of overseas banks. The facility, arranged by Hang Seng Finance Limited and Paribas Asia Limited, had been increased from its original planned size of HK$1 billion (US$129 million) to approximately HK$1,180 million (US$152 million) divided into a US$75 million Tranche and a HK$600 million (US$77 million) Tranche.
Joyce's Interim Profits Fall 37.2%
Upmarket fashion retailer, Joyce Boutique Holdings, has reported a 37.2 per cent fall in profits to HK$10.2 million (US$1,31 million) for the six months ending September 30. Turnover increased 20.3 per cent to HK$263 million (US$33 million) but the profit margin fell to 4.5 per cent from 8.4 per cent in the same period last year. The group will pay no
interim dividend.
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