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Chung Khiaw Bank
Chung Khiaw Bank Limited was a Singapore bank that was established by millionaire Aw Boon Haw and later became a subsidiary of United Overseas Bank after takeovers in 1971–72. Part of the shares of Chung Khiaw Bank was injected to a listed company Haw Par Brothers International in 1969 and was acquired by a domestic competitor United Overseas Bank (UOB) in 1971, after the parent company was takeover by Slater Walker. Chung Khiaw Bank merged with UOB in 1999. The brand "Chung Khiaw Bank" was survived in nearby Malaysia as a subsidiary of UOB until 1997. In 1997, UOB (Malaysia) merged with Chung Khiaw Bank (Malaysia). In 1971, Chung Khiaw Bank also have two branches in Hong Kong, which became the branches of UOB in 1999. History Chung Khiaw Bank was established as a family-held business on 59 Robinson Road, Singapore. The founding chairman of the bank was millionaire Aw Boon Haw, who famous for his "Star Newspapers", and "Tiger Balm"; after his death, Ko Teck Kin () and then ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aw Boon Haw
Aw Boon-Haw (; 1882 in Rangoon, British Raj – 1954 in Hawaii), OBE, was a Chinese entrepreneur and philanthropist best known as founder of Tiger Balm. He was a son of Hakka herbalist Aw Chu-Kin, with his ancestral home in Yongding County, Fujian Province, China. Career Aw was born to Chinese herbalists at Rangoon Road on 1882 under the British colonial government. In 1926, due to problems with the British Colonial government at the time, Aw migrated to Malaysia and expanded their business overseas to South East Asia, where he cofounded the business with his brother. Aw used cartoon commercialisation to promote their Balm product to any potential customer as well as at any public celebration. In the 1920s, his main factory, Eng Aun Tong, was set up at 89 Neil Road, Chinatown, Singapore. Aw also founded several newspapers, including '' Sin Chew Jit Poh'' and ''Sin Pin Jit Poh''; and '' Sing Tao Daily''. Aw fled to Hong Kong during World War II and managed the business f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deposit Insurance
Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability. Overview Banks are allowed (and usually encouraged) to lend or invest most of the money deposited with them instead of safe-keeping the full amounts (see fractional-reserve banking). If many of a bank's borrowers fail to repay their loans when due, the bank's creditors, including its depositors, risk loss. Because they rely on customer deposits that can be withdrawn on little or no notice, banks in financial trouble are prone to bank runs, where depositors seek to withdraw funds quickly ahead of a possible bank insolvency. Because banking institution failures have the potential to trigger a broad spectrum of harmful events, including economic recessions, policy makers mainta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1998 Disestablishments In Hong Kong
1998 was designated as the ''International Year of the Ocean''. Events January * January 6 – The ''Lunar Prospector'' spacecraft is launched into orbit around the Moon, and later finds evidence for frozen water, in soil in permanently shadowed craters near the Moon's poles. * January 11 – Over 100 people are killed in the Sidi-Hamed massacre in Algeria. * January 12 – Nineteen European nations agree to forbid human cloning. * January 17 – The ''Drudge Report'' breaks the story about U.S. President Bill Clinton's alleged affair with Monica Lewinsky, which will lead to the House of Representatives' impeachment of him. February * February 3 – Cavalese cable car disaster: A United States military pilot causes the deaths of 20 people near Trento, Italy, when his low-flying EA-6B Prowler severs the cable of a cable-car. * February 4 – The 5.9 Afghanistan earthquake shakes the Takhar Province with a maximum Mercalli intensity of VII (''Very strong''). With up to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
