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Overseas Trust Bank
Overseas Trust Bank Limited (OTB) () was a bank in Hong Kong. It was established in 1955 by Chang Ming Thien, a Malaysian businessman and it was listed on the Hong Kong Stock Exchange in 1972. It was the fourth largest bank in Hong Kong before acquisition. Collapse and takeover by Government On June 6, 1985, OTB suddenly announced that it was on the brink of collapse, due to its severe cash flow and bad debt problems. Bad debts held by the bank reached US$89.5 million. To recover the confidence of the public and investors of the Hong Kong banking system, the Hong Kong Government stepped in and took over OTB in the following day. From 1985 to 1986, the government ordered the Royal Hong Kong Police and ICAC to investigate the causes of OTB downfall. In May 1986, the former chairman of OTB, Patrick C.T. Chang, was arrested at the Hong Kong International Airport reportedly with a large amount of cash and jewellery. In 1987, Chang and OTB's former senior management were sent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dao Heng Bank
Dao Heng Bank Group Limited (former stock code: ) () was a bank holding company in Hong Kong and it had two major subsidiaries before being acquired, Dao Heng Bank Limited and Overseas Trust Bank Limited. Dao Heng Bank Limited was established in Hong Kong in 1921. It was acquired by Guoco Group (a member of the Hong Leong Group) in 1982 and was listed on the Hong Kong Stock Exchange in 1983. In 1989, it acquired Hang Lung Bank from the Hong Kong Government. In 1993, it acquired Overseas Trust Bank from the Hong Kong Government. Instrumental in this merger, which Euromoney Magazine called "The Deal of the Year", was Managing Director Mr. Werner M. M. Makowski. A deal which led to Dao Heng Bank Group's listing on the Hong Kong Stock Exchange to be 277 times over-subscribed. On 6 December 1999, it joined to be Hang Seng Index Constituent Stocks ( blue chip), making it one of the 4 leading banks that were HSI constituents. In 2001, Singaporean DBS Bank acquired Dao Heng Bank fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arrested
An arrest is the act of apprehending and taking a person into custody (legal protection or control), usually because the person has been suspected of or observed committing a crime. After being taken into custody, the person can be questioned further and/or charged. An arrest is a procedure in a criminal justice system, sometimes it is also done after a court warrant for the arrest. Police and various other officers have powers of arrest. In some places, a citizen's arrest is permitted; for example in England and Wales, any person can arrest "anyone whom he has reasonable grounds for suspecting to be committing, have committed or be guilty of committing an indictable offence", although certain conditions must be met before taking such action. Similar powers exist in France, Italy, Germany, Austria and Switzerland if a person is caught in an act of crime and not willing or able to produce valid ID. As a safeguard against the abuse of power, many countries require that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 2003
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Scandals
A corporate collapse typically involves the insolvency or bankruptcy of a major business enterprise. A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Many recent corporate collapses and scandals have involved false or inappropriate accounting of some sort (see list at accounting scandals). List of major corporate collapses The following list of corporations involved major collapses, through the risk of job losses or size of the business, and meant entering into insolvency or bankruptcy, or being nationalised or requiring a non-market loan by a government. List of scandals without insolvency * Australia & New Zealand Banking Group scandal involving misleading file notes in the Financial Ombudsman Service (Australia) presented to the Supreme Court of Victoria. * Australia & New Zealand Banking Group allegations of racial bigotry toward billionaire businessman Pankaj Oswal and his wife. Court was presented ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crime In Hong Kong
Crime in Hong Kong is generally low but is still present in various forms. The most common crimes are thefts, assaults, vandalism, burglaries, drug offenses, sex trafficking, and triad-related crimes. In 2015, Hong Kong had one of the lowest murder rates in the world, comparable to Japan but higher than Macao or Singapore. Statistics In the year 2015, crime dropped to a 36-year low for Hong Kong. There were 10,889 reported incidents of violent crimes in Hong Kong. Hong Kong had 22 homicides, 5,360 incidents of wounding and serious assaults, 223 robberies, 2,579 burglaries, and 70 rapes. In the 2000s, the number and rate of murders were the highest in 2002. 2011 had the lowest rate and number of murders, at 17 (0.2 murders per 100,000 people; lowest in the world). The homicide rate increased 129.6% in 2013 from 2012 though this was due to the inclusion of 39 deaths from the Lamma Island ferry collision. The most common forms of crime in Hong Kong are non-violent crimes. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Formerly Listed On The Hong Kong Stock Exchange
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of Hong Kong
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kwong On Bank
Kwong On Bank Limited (KOB) (former stock code: ) () was a Hong Kong-based bank. It was established in 1935 by Mr Leung Kwai-Yee and later run by his son, Dr. Leung Ding Bong, the President of the former Urban Council of Hong Kong, and Japan-based Fuji Bank, and his family. It was acquired and privatised by DBS Bank and renamed as DBS Kwong On Bank Limited in 1999. DBS Bank merged DBS Kwong On Bank, Dao Heng Bank and Overseas Trust Bank to form DBS Bank (Hong Kong) Limited in 2003. See also *DBS Bank (Hong Kong) *Dao Heng Bank *Overseas Trust Bank Overseas Trust Bank Limited (OTB) () was a bank in Hong Kong. It was established in 1955 by Chang Ming Thien, a Malaysian businessman and it was listed on the Hong Kong Stock Exchange in 1972. It was the fourth largest bank in Hong Kong before ... References {{reflist Defunct banks of Hong Kong DBS Bank Companies formerly listed on the Hong Kong Stock Exchange Banks disestablished in 2003 Banks established in 1935 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DBS Bank (Hong Kong)
DBS Bank (Hong Kong) Limited () is a licensed bank incorporated in Hong Kong. It is a subsidiary of DBS Bank headquartered in Singapore and it is also the seventh-largest bank in Hong Kong by total assets. History In 1999, DBS Bank acquired Kwong On Bank and formed the DBS Kwong On Bank Limited. In 2001, DBS Bank acquired Dao Heng Bank, including its subsidiary, Overseas Trust Bank, from Guoco Group. In 2003, DBS Bank merged the three banks, DBS Kwong On Bank Limited, Dao Heng Bank and Overseas Trust Bank, to form DBS Bank (Hong Kong). Mei Foo Branch Incident On October 5, 2004, DBS Bank (Hong Kong) Limited announced that, during the renovation of its branch in Mei Foo Sun Chuen, in Kowloon, when the bank attempted to remove more than 900 empty safety boxes from the branch, 83 safety boxes rented by customers and containing valuables were accidentally removed. The 83 boxes were subsequently sent to a scrapyard and crushed. The bank reported that 36 boxes were recovered, although ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DBS Bank (Hong Kong) Limited
DBS Bank (Hong Kong) Limited () is a licensed bank incorporated in Hong Kong. It is a subsidiary of DBS Bank headquartered in Singapore and it is also the seventh-largest bank in Hong Kong by total assets. History In 1999, DBS Bank acquired Kwong On Bank and formed the DBS Kwong On Bank Limited. In 2001, DBS Bank acquired Dao Heng Bank, including its subsidiary, Overseas Trust Bank, from Guoco Group. In 2003, DBS Bank merged the three banks, DBS Kwong On Bank Limited, Dao Heng Bank and Overseas Trust Bank, to form DBS Bank (Hong Kong). Mei Foo Branch Incident On October 5, 2004, DBS Bank (Hong Kong) Limited announced that, during the renovation of its branch in Mei Foo Sun Chuen, in Kowloon, when the bank attempted to remove more than 900 empty safety boxes from the branch, 83 safety boxes rented by customers and containing valuables were accidentally removed. The 83 boxes were subsequently sent to a scrapyard and crushed. The bank reported that 36 boxes were recovered, althoug ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
DBS Kwong On Bank
DBS may refer to: Music groups *The dB's, a power pop band of the '70s and '80s *d.b.s., a Canadian punk rock band from 1992 to 2001 *Death by Stereo, an American heavy metal/punk rock group from California Companies and organizations Schools *Diocesan Boys' School, a boys-only Direct Subsidy Scheme secondary school in Hong Kong * Don Bosco School, Manila, a private elementary and high school in Manila, Philippines *Dubai British School, a British international school in Dubai, United Arab Emirates *Dublin Business School, a private business college in Dublin, Ireland *Durham Business School, the business school of Durham University, UK Other entities *DB Schenker, the trading name of DB Cargo UK *DBS Bank, a Singaporean multinational bank *DBS Radio, the on-air name of the Dominica Broadcasting Corporation *Disclosure and Barring Service, United Kingdom public body *Den Beste Sykkel, a Norwegian bicycle brand and manufacturer Science *Deep brain stimulation, a surgical treatm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privatized
Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised (which may also be known as "franchising" or "out-sourcing"); in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, Water privatization, water supply, and penology, prison management. Another definition is that privatization is the sale of a state-owned enterprise or municipally owned corporation to private investors; in this case shares may be traded in the public market for the first time, or for the first time since an en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
