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

To: B Tate who wrote (2309)	2/20/1998 8:05:00 PM
From: Stitch	Read Replies (1) \| Respond to of 9980

Bernie, You mentioned a for fee report. Is this a service generally available and is it reasonably priced? Maybe a candidate source for a club like you mentioned? I've been thinking more and more about that. best, Stitch

To: B Tate who wrote (2309)	2/21/1998 8:41:00 AM
From: Worswick	Respond to of 9980

Bernie I notice that ANZ bank has come in to advise the Sidby bank on "things". A loan of $300-$350 million to one person secured with, now, questionalble assets I suppose. You see this is what I am talking about in Asia. People lend and borrow in times that are normal; then then have to repay loans in times that are extra-oridinary. Credits crater and there is great difficulty in ever climbing back. Witness JP Morgan's derivatives credits to Korean banks. This is a hole probably more than a billion dollars deep. One of many I suppose. The Korean firm goes down; then, Morgan who stands in back of the Korean firm is on the line, suddenly, for mega money. The problem is no one is going to tell anyone about these probelms until it is too late. Wintness Barings. Here is a snippet of something that is all to familiar to me in Asia. Radisson builds a hotel in Delhi. The local authorities refuse for some reason (bribes probably) to let the hotel chain open. Radisson "eats" the hotel for 18 months to two years at 20 - 25% dollar interest in India. They have at least another $8 million in interest costs. RADISSON GETS APPROVAL TO COMMISSION HOTEL IN DELHI NEW DELHI - The Indian government has allowed US hotel chain Radisson to commission its hotel near the Delhi international airport. Sources said operation of the Rs 900 million (US$23.08 million) hotel, which was completed last year, has been delayed because of differences between government departments on the use of land leased out by the Airport Authority of India to the hotel. Radisson built the hotel with AB Hotels after winning an open tender.