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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: ---------- who wrote (853)	11/10/1997 11:36:00 PM
From: Tom	Read Replies (2) \| Respond to of 2951

Is someone turning up the heat on SE Asia. And, if so, who? FROM HONG KONG... International Bank fo Asia (IBA) suffered what it called a "minor run" at its main office yesterday. Hundreds of depositors scrambled to withdraw money long after banking hours. The run on IBA came amid rumours -- said to have originated in the stockbroking community -- about the health of smallish Hongkong listed banks. IBA is owned by Bahrain-based Arab Bank Corporation (ABC). Bahrain is not a democracy. The Amir, Al-Shaikh Issa Bin Salman Al-Khalifa, rules Bahrain by decrees. The human rights situation in Bahrain has been reportedly deterioriating since late 1994. Several small, clandestine leftist and Islamic fundamentalist groups are active. Democratic rights were lost when the elected assembly was dissolved in in 1975. Reported human rights violations include: Arbitrary arrest and incommunicado detention of thousands of men women and children, torture leading to death in custody, unfair trials and extrajudicial killings. I know nothing, however, of ABC's dealings. FROM KUALA LUMPUR... Sanctions for Petronas The United States has no right to impose sanctions on Malaysia's Petroliam Nasional Bhd (Petronas) over its business dealings in Iran, a Malaysian minister said yesterday. Malaysia's Foreign Minister on U.S. investigators..."They can come here as tourists. That's all." Also, a Malaysian youth group protested asking that U.S. investigators be prevented from entering the country. Latest reports indeed have the investigators barred from any investigation into Petronas' dealings. ---------------------------------------------------------------------- I believe there are agendas involved here. Unfortunately, they are not co-ordinating.