Article Abstract:
Lane Crawford International, Shanghai Industrial Holdings and Templeton Asset Management are some of the firms in which shareholders are taking an active role in company management. In the case of Lane Crawford International, Wheelock and Co was forced to raise the price of its offer to buy the department store chain and one-quarter of the company's stock from HK$384 million to HK$406.7 million after Lane Crawford's shareholders threatened stop the deal. The shareholders, which control 10% of the firm's shares, accused Wheelock of taking advantage the temporary downturn in Asian consumer spending to acquire undervalued firms.
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Article Abstract:
The prices of two plots sold by the Hong Kong government raises hopes of economic recovery. The lots were unexpectedly sold for one-fifth more than what was expected. For three plots sold, Hong Kong got HK $1.49 billion which is much more than the HK$1.25 billion that analysts predicted the plots would fetch. The prices were an indication that real estate developers expect that apartment prices could increase by as much as 15% to 25% until the year 2001.
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Article Abstract:
Hong Kong Telecommunications Ltd has declared that it will tie employees' bonuses to profit in 1999. This would mean that if operating profit increases between 3% and 5%, employees will receive half a month's salary. If operating profit increases from 5% to 12%, workers will receive a month's salary. In addition the company has promised to offer all workers options to buy shares at a nominal price.
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