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Cathay Pacific & Swire - Under Pressure...

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  1. #201

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    In China, it is not the CCP and the Chinese government who brought prosperity and stability to the Chinese people - it is the West, led by the US, my friend. But that is going to change - because the CCP and the Chinese Gvmnt cannot act within international laws, and the West is finally waking up to it.

  2. #202

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    Hong Kong broker CLSA under pressure to leave Swire office block

    https://www.ft.com/content/24a7cbc2-...b-77216ebe1f17

    FT is normally paywalled, but it seems its free today.

  3. #203

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    Mefisto and thisdress like this.

  4. #204

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    The CLSA story seems incorrect, according to this report in The Standard.

    Swire Properties (1972) says it has extended its lease with CSLA, a broker under state-owned CITIC Securities, at Pacific Place.
    CSLA to remain in its Swire offices | The Standard

  5. #205

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    Quote Originally Posted by shri:
    The CLSA story seems incorrect, according to this report in The Standard.



    CSLA to remain in its Swire offices | The Standard
    As reported by the Financial Times?

    A great way for the FT to lose some cred

    But who know what is truth anymore. All I know is Swire, HSBC and Jardine must be fronting up some serious $$$ right now to keep and protect their very deep and wide roots.

  6. #206

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    Jardine? They've stayed out of trouble right now, and substantially stayed out of China over the last couple of decades.


  7. #207

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    Quote Originally Posted by shri:
    Jardine? They've stayed out of trouble right now, and substantially stayed out of China over the last couple of decades.
    They have substantial interests in Hong Kong and major interests in places sensitive to US influence... like the little red dot.

  8. #208

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    Quote Originally Posted by shri:
    Jardine? They've stayed out of trouble right now, and substantially stayed out of China over the last couple of decades.
    Moving their "nominal" headquarters to Bermuda seems like a smart choice now in hindsight, although given the fact that they still derive a big chunk of revenue from HK, which Beijing can exert power on, I don't think they can entirely escape the wrath of Beijing if they ever offend them.

  9. #209

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    Quote Originally Posted by Coolboy:
    Moving their "nominal" headquarters to Bermuda seems like a smart choice now in hindsight, although given the fact that they still derive a big chunk of revenue from HK, which Beijing can exert power on, I don't think they can entirely escape the wrath of Beijing if they ever offend them.
    It was always a smart choice, predating any turbulence in any particular locality. Say what you like, but many of these business leaders/groups are savvy to have made (and kept) their money. Parasitic? Maybe, but to a large extent, products of their environment. Whether they have any conscience outside their ability to accumulate wealth is a separate issue to be carefully examined.

  10. #210

    Jardine has built up a lot of assets in Singapore and South East Asia over the past 30 years - it is not just their incorporation and HKEx listing they have moved out. I think about 15% of their earnings are from mainland China.

    Swire is definitely more vulnerable - and Cathay in particular as we have seen.


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