...I. Overview of the Hong Kong Capital Market Located in the heart of Asia, Hong Kong positioned itself to be a major international financial center of the continent. Its capital market is comprised of integrated network of institutions and markets which provide a wide range of products and services to local and international customers and investors. Hong Kong’s financial markets are characterized by a high degree of liquidity and operate under effective and transparent regulations, which meet international standards. The Government of the Hong Kong Special Administrative Region (HKSAR) abides by the principle of keeping intervention into the way in which the market operates to a minimum and has endeavoured to provide a favorable environment in which business operates. Its policy of low and simple taxation allows maximum room for business initiatives and innovation. There is a strong emphasis on the rule of law and fair market. There are no barriers of access to the market by foreign businesses and no restrictions on capital flows into and out of Hong Kong. Hong Kong’s privileged location in the Northeast Asia, on the other hand, makes it a gateway to China. Moreover, Hong Kong is situated at appropriate time zones that allow 24-hour continuous trading of foreign exchange and gold when the two markets in New York and London are closed. II. Financial Players and Intermediaries in Hong Kong Preview:A closer look at the financial markets As of July 2010, there were...
Words: 13954 - Pages: 56
...HUMAN RESOURCES MANUAL CONTENTS SECTION 1. INTRODUCTION 1-1 1-2 2. EMPLOYMENT 2-1 2-2 2-3 2-4 2-5 2-6 2-7 2-8 3. Hours of Work Rest Days Public Holidays Typhoon Arrangements Rainstorm Warning Arrangements REMUNERATION 4-1 4-2 4-3 5. Employment Policy Manpower Plan & Control Recruitment Probationary Period Transfer Promotion Termination Retirement WORK SCHEDULE 3-1 3-2 3-3 3-4 3-5 4. Purpose of the Manual Human Resources Philosophy Salary Policy Pay Review Job Related Payments & Reimbursements BENEFITS 5-1 5-2 5-3 5-4 5-5 5-6 5-7 5-8 Leave Provident Fund Group Medical Insurance Scheme Group Dental Insurance Scheme Group Life & Personal Accident Insurance Schemes Employees' Compensation Insurance Scheme Business Travel Insurance Scheme Medical Check-up 6. PERFORMANCE DEVELOPMENT 7. TRAINING & DEVELOPMENT 7-1 7-2 7-3 Training & Development Guidelines Examination Fee Reimbursement Professional Membership Fee Reimbursement HUMAN RESOURCES MANUAL CONTENTS SECTION 8. STAFF RELATIONS & COMMUNICATION 8-1 8-2 8-3 9. SAFETY & HEALTH 9-1 9-2 10. 10-2 10-3 10-4 10-5 Purpose Staff Record Staff Card Company Property Use of Personal Computer Use of Telephone Employment of Family Members Contact with the Media Delivery of Speeches or Lectures Arrangement of Honorarium Rewarded for Delivery of Speeches or Lectures Behaviour in Public Attire ...
Words: 39019 - Pages: 157
...FIN 3103 FINANCIAL MARKETS AND INSTITUTIONS– SECTION 1A AN INTRODUCTION TO THE ASIAN EQUITY MARKET & ITS EXCHANGES SAMUEL TOW WEE YAP (A0102724U) LIEW KUANG CHEN JOEL (A0004624U) ANG CHUAN HWEN JEREMY (A0080928X) LIAW YIH HANG (A0091535E) WU GUIYAN (A0100395N) ZHAO CHUANYI (A0105563L) Contents 1. Introduction ..................................................................................................................................................................................................... 4 2. Objectives of the Stock Market ................................................................................................................................................................. 4 2.1 Capital Formation ......................................................................................................................................................................................... 4 2.2 Connecting Traders ...................................................................................................................................................................................... 4 2.3 Security............................................................................................................................................................................................................. 4 2.4 Economic Indicator ...................................................................................................
Words: 6311 - Pages: 26
...One of the initiatives in the UK is through hiring individual consultants whose position holds senior roles from predominantly large private sector organizations to help women to address the board application process from application to accepting the right position. They also assist them in preparing for a position on a public board through a one-to-one training for up to a year. The training includes workshops on corporate governance, risk management, roles of a non-executive director and assistance in capturing types of board aligned for their interest and strengths (Sealy, Doldor, & Vinnicombe, 2009). The Female FTSE Report in 2008 has named 1,800+ women at committee level across a variety of industries and these names were compiled as a very real response to the ‘lack of pipeline’ argument. However, these are just a list of names envisioned to be on the radar of search consultancies. Initiatives in database management in the UK therefore saw a major executive search consultancy announced a compilation of a database of senior female executives in the FTSE 250 companies aimed to increase the percentage of female board members on the organizations (Sealy, Doldor, & Vinnicombe, 2009). In addition, the Appointment Commission and UKRC for women in SET have been actively managing their database of potential female candidates. These organizations will match opportunities and those women on their databases. In 2004, a FTSE 100 cross-company set up a mentoring scheme aimed...
Words: 2166 - Pages: 9
...Yinzhi Miao Oversea Listing and State-Owned-Enterprise Governance in China: the Role of the State LL.M. Long Paper Harvard Law School Supervised by Prof. Reinier Kraakman and Mark Roe April 2012 Oversea Listing and State-Owned-Enterprise Governance in China: the Role of the State Yinzhi Miao Abstract: There are both considerate horizontal and vertical governance problems in the Chinese state-owned-enterprises (SOEs). Due to their privileged positions in the political economy, traditional institutions of corporate governance are far from perfect. Thus the value of oversea listing as a governance mechanism is highlighted, and that could be better revealed by a deeper analysis of the benefit-and-cost balance by the government which controls the SOEs. However, effective as it is, oversea listing could not be a marvelous antidote to all governance ills. Further, as the two major governance disasters of oversea listed SOEs shows, if the government lacks a proper self-positioning, nontrivial negative implications will be brought to SOEs governance via oversea listing. The ultimate function of corporate governance in SOEs thus relies heavily on public governance. Key words: state-owned-enterprises, oversea listing, corporate China governance, 2 Table of contents I. Introduction ....................................................................................................................4 II. The Governance problems of Chinese SOEs and the limitations of...
Words: 30398 - Pages: 122
...ASX Information Paper Broker Trades Message Specification 29 January 2010 Table of Contents EXECUTIVE SUMMARY .................................................................................3 INTRODUCTION .............................................................................................4 THE GLOBAL FINANCIAL CRISIS ................................................................5 Credit and Debt Markets....................................................................................................5 Equity Markets ...................................................................................................................6 THE GFC AND EQUITY CAPITAL RAISING..................................................6 THE NATURE OF THE AUSTRALIAN EQUITY MARKET...........................10 THE STRUCTURE OF CAPITAL RAISING IN AUSTRALIA ........................12 Initial Equity Capital Raising...........................................................................................12 Secondary Equity Capital Raising..................................................................................15 Placements ................................................................................................................................. 21 Rights Issues .............................................................................................................................. 24 Share Purchase Plans ............................................
Words: 10020 - Pages: 41
...10 Largest Stock Exchanges from Asia, Europe, Africa and America: 1. Asia: i. Bombay Stock Exchange: The Bombay Stock Exchange is the oldest exchange in Asia. It traces its history to the 1850s, when four Gujarati and one Parsi stockbroker would gather under banyan trees in front of Mumbai's Town Hall. The location of these meetings changed many times, as the number of brokers constantly increased. The group eventually moved to Dalal Street in 1874 and in 1875 became an official organization known as 'The Native Share & Stock Brokers Association'. In 1956, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. The Bombay Stock Exchange developed the BSE SENSEX in 1986, giving the BSE a means to measure overall performance of the exchange. In 2000 the BSE used this index to open its derivatives market, trading SENSEX futures contracts. The development of SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform. The equity market capitalization of the companies listed on the BSE was US$1 trillion as of December 2011, making it the 6th largest stock exchange in Asia and the 14th largest in the world.[1] The BSE has the largest number of listed companies in the world. As of December 2011, there are over 5,112 listed Indian companies and over 8,196 scrips on the stock exchange,[3] the Bombay Stock Exchange has a significant trading volume...
Words: 5456 - Pages: 22
...corporate governance attributes are the proportion of independent directors to total number of directors on the board, the existence of a voluntary audit committee, the existence of dominant personalities (CEO/Chairman duality), and the percentage of family members on the board. Using a weighted relative disclosure index for measuring voluntary disclosure, the results indicate that the existence of an audit committee is significantly and positively related to the extent of voluntary disclosure, while the percentage of family members on the board is negatively related to the extent of voluntary disclosure. The study provides empirical evidence to policy makers and regulators in East Asia for implementing the two new board governance requirements on audit committee and family control. © 2001 Elsevier Science Inc. All rights reserved. Keywords: Corporate disclosure; Corporate governance; Voluntary disclosure; Hong Kong 1. Introduction It is commonly agreed that the recent Asian financial crisis was not only the result of a loss in investor confidence but, more importantly, of a lack of effective corporate governance and transparency in many of Asia’s financial markets and individual firms1. Over the last several years, most East Asian economies have been actively reviewing and improving their regulatory frameworks, in particular, corporate...
Words: 7994 - Pages: 32
...STOCK EXCHANGES IN INDIA Module Objectives The main objective of this module is to explain the structure of organized exchanges for trading in stocks, commodities and derivatives. The features of derivative instruments like forwards, futures, options and swaps are also described. Module Contents 5.1. Stock Exchanges 5.2. Commodity Exchanges 5.3. Derivatives 5.4. Currency Futures in India 5.1 Stock Exchanges in India 5.1.1 History and Development Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200 years ago. The earliest records of security dealings in India are meagre and obscure. The East India Company was the dominant institution in those days and business in its loan securities used to be transacted towards the close of the eighteenth century. By 1830's business on corporate stocks and shares in Bank and Cotton presses took place in Bombay. Though the trading list was broader in 1839, there were only half a dozen brokers recognized by banks and merchants during 1840 and 1850. The 1850's witnessed a rapid development of commercial enterprise and brokerage business attracted many men into the field and by 1860 the number of brokers increased into 60. In 1860-61 the American Civil War broke out and cotton supply from United States of Europe was stopped; thus, the 'Share Mania' in India begun. The number of brokers increased to about 200 to 250. However, at the end of the American Civil War, in 1865, a disastrous slump began (for...
Words: 20281 - Pages: 82
...Health and Nutrition • Household Cleaning • Car Care • Personal Care • Cosmetics & Fragrances • Kitchen and Cookware • Bodyshaping Lingerie • Undergarments and Apparel • Food and Beverages • Π Water Systems • Health and Nutrition • Household Cleaning • Car Care • Personal Care • Cosmetics & Fragrances • Kitchen and Cookware • Bodyshaping Lingerie • Undergarments and Apparel • Food and Beverages • Π Water Systems • Health and Nutrition • Household Cleaning • Car Care • Personal Care • Cosmetics & Fragrances • Kitchen and Cookware • Bodyshaping Lingerie • Undergarments and Apparel • Food and Beverages • Π Water Systems • Health and Nutrition • Household Cleaning • Car Care • Personal Care • Cosmetics & Fragrances • Kitchen and Cookware • Bodyshaping Lingerie • Undergarments and Apparel • Food and Beverages • Π Water Systems • Health and Nutrition • Household Cleaning • Car Care • Personal Care • Cosmetics & Fragrances • Kitchen and Cookware • Bodyshaping Lingerie • Undergarments and Apparel • Food and Beverages • Π Water Systems • Health and Nutrition • Household Cleaning • Car Care • Personal Care • Cosmetics & Fragrances • Kitchen and Cookware • Bodyshaping Lingerie • Undergarments and Apparel • Food and Beverages • Π Water Systems • Health and Nutrition • Household Cleaning • Car Care • Personal Care • Cosmetics & Fragrances • Kitchen and Cookware • Bodyshaping Lingerie • Undergarments and Apparel • Food and Beverages • Π Water Systems • Health and Nutrition • Household Cleaning...
Words: 48161 - Pages: 193
...Global Social Finance Research 02 May 2012 Volume Growth and Valuation Contraction Global Microfinance Equity Valuation Survey 2012 J.P. Morgan Global Research J.P. Morgan Social Finance Yasemin Saltuk Yasemin Saltuk AC (44-20) 7742-6426 (44-20) 7742-6426 yasemin.x.saltuk@jpmorgan.com yasemin.x.saltuk@jpmorgan.com J.P. Morgan Securities Ltd. J.P. Morgan Equity Research Frederic de Mariz (55-11) 4950-3398 frederic.de.mariz@jpmorgan.com Banco J.P. Morgan S.A. CGAP Jasmina Glisovic Henry González This report is the result of a collaborative effort between CGAP and J.P. Morgan. J.P. Morgan analysts are solely responsible for the investment opinions and recommendations, if any, in this report. See page 21 for analyst certification and important disclosures. J.P. Morgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that See page 21 for important disclosures. the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. www.morganmarkets.com Global Microfinance Equity Valuation Survey 2012 Global Social Finance Research 02 May 2012 Background & Acknowledgements Equity capital flows into microfinance have been increasing for many years, with both retail and institutional investors showing interest in this sector of financial services. Despite this growth...
Words: 8856 - Pages: 36
...“2006 Asian Banks Competitiveness Ranking” Report At the Request of “21st Century Business Herald” Jointly conducted by Faculty of Business Administration, The Chinese University of Hong Kong Guanghua School of Management, Peking University Written by: HE Jia, Hugh THOMAS Researchers: HE Jia, Hugh THOMAS, ZHOU Chunsheng Research Assistants: WAN Yanyan, SU Jun, MAO Tianshi Part One: Background for Asian Banks’ Competitiveness Study I. Asian Banking Reform Reform has surged across the banking industry in Asia over the last decade. In the large, insular, developing economies of China and India, the reform movement originated with internationalizing and introducing market mechanisms to stimulate previously state-owned systems. In Japan and the other traditionally market oriented Asian economies, the reform was born out of crisis. Japan’s slow and painful, a decade-long recession of the 1990s, following the bursting of the bank-financed real estate and stock markets bubbles, finally led to a consensus on the need for reform. But real urgency did not enter banking reform in Asia until the Asian Financial Crisis struck the smaller, developing, market-based economies of Asia in 1997. In the run-up to the crisis, capital inflows helped fuel debt-financed investment, while stable exchange rates and surging economic growth masked the risks of many loans to leveraged and risky companies, often based more on connections than sound credit analysis. Many...
Words: 21299 - Pages: 86
