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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Worswick who wrote (1540)	1/25/1998 4:12:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 9980

ICICI- ask the CEO <<<. The first recommendation was the premier Indian investment bank ICI/ICI. I know from having worked with them that 331'/3% of their loans were non-preforming. Yet, here in the report this bank had a figure of 5% unpreforming loans in the write-up. "We recommend this bank because of all the banks in India... this bank has only 5% of it's loans in the non-preforming category." Dear me.>>> Worswick: If you are still interested in ICICI, you may want to ask the CEO Mr.Kamath,about your concerns and get a clarification. I know many of the governemnt owned banks may be sitting on nice chunks of non-performing loans just like in China,but can't say that for the private banks which of course are fewer than state-owned ones,but things are changing. Here is the link for ICICI in case you need it. icici.com

To: Worswick who wrote (1540)	1/25/1998 4:45:00 PM
From: Thomas Haegin	Read Replies (1) \| Respond to of 9980

Worswick, the post you put out to Bernie Tate just reminded me of a story that came in the media here some days ago: Apparently Zurich Insurance was in negotiations with Peregrine of HK to buy either a big chunk or take them over completely. As we know, Pere is bust now. I don't know whether Zurich was planned to come in as a White Knight and inject capital into the troubled Pere. or was unaware of the big trouble Pere. faced with the taxi co. Anyway, they didn't like what they saw in their due diligence and walked away - the result for Pere. being as we know it. So management of Zurich did a pretty good job, I'd say. Just an anecdote from Switzerland, Thomas