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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (3666)	2/6/1999 1:55:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

ABN Amro leads BankAm's retail business suitors George Cherian -------------------------------------------------------------------------------- MUMBAI 5 FEBRUARY The Netherlands-based ABN Amro Bank is believed to have a lead over other suitors for Bank of America's retail assets in India, Singapore and Taiwan. ABN Amro, which has over the last year increased its presence in retail banking in a big way, is understood to be in an advanced stage of negotiations with BankAm for the proposed acquisition. BankAm, had, in December 1998, announced that it had decided to sell its Asian retail businesses in India, Singapore and Taiwan as part of a restructuring of its Asian retail operations following its merger with Nationsbank. GE Capital, which at one time was being considered a serious contender to buy out BankAm's retail assets, is now out of the running, it is learnt. Other banks that are understood to have put in their bids are StanChart and Citibank, both active players in the retail finance market. Senior officials at BankAm's India headquarters in New Delhi were unavailable for comment, while ABN-Amro's India country head, Romesh Sobti said he was not in a position to comment on the matter as he was unaware of any such development. BankAm's Asian operations has a staff of about 4,500, of which roughly 25 per cent are in retail operations. BankAm has said that it plans to build and expand its consumer business in Hong Kong and Macau. It also said it planned to sell its credit card issuance business in Taiwan. Ken Lewis, president of BankAm's consumer and commercial bank had at the time of the announcement, said that the bank had decided to concentrate its resources in markets where it could be a major participant and invest capital in those markets where the best returns could be achieved. Bank of America entered the consumer market in India and Singapore in 1994 and Taiwan in 1996. ankAm's India head Arun Duggal had said earlier that the decision by the parent corporate management to sell these businesses was a result of the world-wide strategy to focus its retail banking resources on markets where the bank could aim to be a significant player in terms of size and scope. ankAm is hopeful that employees from the retail banking division would be offered a suitable employment by the purchaser of the business. It had also given away handsome severance benefits to all employees who were laid off following the decision to exit the retail business. Sources have said that prospective buyers would be keen on taking over the retail assets of BankAm - they see it as a clean and healthy portfolio by and large, with virtually negligible bad loans. In fact, BankAm's retail business was growing at about 30 per cent a year and it had shown some promise of even cutting into Citibank's retail lending in India, especially in car finance. economictimes.com

To: Mohan Marette who wrote (3666)	2/6/1999 3:38:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Announcements 4 February,1999 -------------------------------------------------------------------------------- Book-Closure/Record Date/Dividend Code No. Name of the Company BC/RD BC/Record Date Security Type Purpose 23447 Alsa Marine & Harvests Ltd. BC 16/03/99 to 24/03/99 EQUITY AGM 111138 Armour Polymers Ltd. RD 15/04/99 14% NCD IIIrd Instalment of 31344 Container Corporation of India Ltd. RD 04/03/99 EQUITY Interim Dividend. 110960 Deepak Nitrite Ltd. RD 17/03/99 12.5% PCD Interest 110961 Deepak Nitrite Ltd. RD 17/03/99 14% NCD Interest 5232 Hagglunds Denison Co. Ltd. BC 16/03/99 to 22/03/99 EQUITY AGM & Dividend. 7150 India Sugars & Refineries Ltd. BC 16/03/99 to 19/03/99 EQUITY AGM 111639 Indian Petrochemicals Corporation Ltd. RD 16/03/99 16% PCD Interest. 31001 Kamar Chemicals & Industries Ltd. BC 16/03/99 to 26/03/99 EQUITY AGM 30299 Kothari Products Ltd. BC 16/03/99 to 23/03/99 EQUITY AGM & Dividend 26415 Ok Play India Ltd. BC 17/03/99 to 22/03/99 EQUITY AGM 31120 Patel Engineering Co. Ltd. RD 13/03/99 EQUITY 50% Interim Dividend. 110798 Pearl Polymers Ltd. RD 16/03/99 14% NCD. Interest 111693 Ricoh India Ltd. RD 20/03/99 16% NCD Interest. 200014 Sakthi Sugars Ltd. RD 16/03/99 14% Red. Redemption Announcements 5 February,1999 -------------------------------------------------------------------------------- Book-Closure/Record Date/Dividend Code No. Name of the Company BC/RD BC/Record Date Security Type Purpose 31773 Shalibhadra Securities Ltd. BC 26/03/99 to 31/03/99 EQUITY --- 17411 Shyam Telecom Ltd. BC 16/03/99 to 26/03/99 EQUITY Dividend & Rights 11459 Taurus - Star Share RD 12/02/99 TAURUS Redemption. 111267 Waterbase Ltd. BC 16/03/99 to 31/03/99 15% PCD. Interest Board meetings Code No. Name of the Company Date of Meeting Purpose 26267 AVS Industries Ltd. 30/01/99 Quarterly Results 6597 Amal Products Ltd. 01/02/99 Quarterly Results 14122 Arihant Cotsyn Ltd. 30/01/99 (Cancelled) 126 E. Merck (India) Ltd. 27/02/99 Accounts. 7528 Eastern Sugar & Industries Ltd. 15/02/99 Quarterly Results 30553 Global Industries Ltd. 16/02/99 Quarterly Results 7790 Gujarat Propack Ltd. 17/02/99 Quarterly Results 23230 Jalpac India Ltd. 05/02/99 Quarterly Results 31374 Kaashyap Foundations Ltd. 06/02/99 Quarterly Results 31001 Kamar Chemicals & Industries Ltd. 12/02/99 Accounts 31418 Ketaki Estate & Finance Ltd. 05/02/99 Quarterly Results 32096 Kothari Petrochemicals Ltd. 25/01/99 Quarterly Results 7190 Kothari Sugars & Chemicals Ltd. 29/01/99 Quarterly Results 13627 Krishna Ferro Products Ltd. 15/02/99 Quarterly Results 13683 Neyveli Lignite Corporation Ltd. 25/01/99 Quarterly Results 4278 Punjab Anand Lamp Ind. Ltd. 19/02/99 Quarterly Results 11652 Ram Kaashyap Investment Ltd. 06/02/99 Quarterly Results 12575 Ritesh Exports Ltd. 31/01/99 Unaudited Financial 31057 Ritesh Polyesters Ltd. 31/01/99 Unaudited Financial 23580 S. I. Property Development Ltd. 17/02/99 Quarterly Results 374 Sandvik Asia Ltd. 20/02/99 Accounts & Dividend 676 Smithkline Beecham Consumer Healthcare L 05/02/99 To take note of the Board meetings Code No. Name of the Company Date of Meeting Purpose 2460 Solid Containers Ltd. 22/01/99 Quarterly Results & to 30321 Unimin India Ltd. 30/01/99 Quarterly Results 31459 Ventron Polymers Ltd. 28/01/99 Quarterly Results (Source:CapitalMakrets,Mumbai)<i/>