On the record
Nedship -
GROWING NETWORK
Ne*v*
14
info exchange/in brief
WHAT's NewS Issue 8 August 1996
If you didn't manage to see the
major Vermeer exhibition in
either Washington orïhe
Hague,don't despair. The award
winning catalog is still available
(600 copies in English only price
57,50) for personal or
corporate gift purposes. For
more information, please
contact Marty Braggaar or Joyce
Lisman on +31 30 216 2838.
RABO AUSTRALIA -
FX TRADING ROUND
THE CLOCK
RI took a step towards
launching 24-hour trading
when a proposal was approved
by the executive board for the
start-up in Sydney of a six-day,
round-the-clock operation in
the near future.
The positive response was
based primarily on the fact
that Australia's treasurer, Geoff
Spice, has long-standing
experience in setting up and
operating round-the-clock FX
trading. A further
consideration was that clients
are more inclined to entrust
their transactions to a sound
bank with a 24-hour treasury
operation than to a bank
which organizes its
24-hour dealing by shunting
positions around the world to
sister operations in other time
zones.
Although Sydney has been
given the go-ahead, a number
of conditions must be met
before the treasury can open
from 04.30 on Monday
mornings to 20.00 on Saturday
nights, including public
holidays. The Sydney treasury
will have to be staffed by an
adequate number of dealers
who combine both marketing
skills and FX spot experience.
Full branch status will have to
be regulated to take advantage
of both Rabobank Nederland
and counter-party limits. Last
but not least, a suitable back
office team and sound systems
are also prerequisites. No firm
date has been set as yet for the
official launch, but we'11 keep
you informed of developments.
dedicated to the
shipping industry
hopes to continue its
active support of bank
clients with interests
in this sector. Both
Nedship operations in
the Far East share
office space with
BANKER ON THE SPOT
Whoeversaid international
banking was a glamourous or
safe job should think again, writes
Singapore's Jacqueline Chang.
She should know as she recently
spent three days trapped in a
remote province of China during
the worst flooding to hit the PRC
this century.
'It all started like most other
business trips. One of our clients,
WCP, was opening a new
operation in Huang San,a small
town in the rugged and
mountainous south-eastern
province of Anhui.The
ceremonies went off without a
hitch and 28 of us who had flown
in specially for the occasion were
ferried to the local hotel for the
night before returning to our
respective homes.
'Little did we expect that we'd be
caught up in horrific flooding
that would keep us virtual
prisoners in the hotel without
power, food or water for three
days and nights. We woke to find
the whole town had been
engulfed by three metres of
muddy water that was already
lapping away at the second floor
of the hotel. It was a gruelling
experience for all of us. But, of
course,nothing compared to
what the local populations of
Anhui, Hubei, Guizhou, Zhejiang
and Jiangxi provinces were going
through.Torrential rains and
raging floods affected no less
than 10 million people,
destroying homes, villages and
damaging vast areas of farmland
and livestock.
'For us, lack of drinking water was
the biggest problem,followed by
food. We managed to salvage
some water from the hotel's roof
top tank which was distributed
meticulously from two rather
grubby plastic buckets.A local
'entrepreneur' paddling a flimsy
home-made sampan then turned
up offering roti kosong at 200
time the normal price. We paid
up without even haggling and I
promise you that bread had
never tasted so good.
'Rescue attempts, also for myself
and the other unwilling hotel
guests, were hampered by
washed-away bridges and
submerged roads. Airports and
railway stations in the affected
regions were closed indefinitely.
Our ultimate escape from the
building involved a precarious
climb over mud-slicked adjoining
buildings.Two long bamboo
poles and wooden planks were
transformed into a fragile 'bridge'
that took us,slithering and
sliding, to higher ground. Rusted
pipes and everything you ever
learnt at school about
gymnastics eventually carried us
to safety, although few of us
managed to make the journey
without bumps and bruises.
'Safe home in Singapore, I can
only say this was an experience I
will never forget. I was extremely
lucky to have survived at all - to
date, 500 people have lost their
lives in Anhui Province alone. It
taught me a lot, especially about
coping with and handling
unexpected challenges.While I
wouldn't recommend it as a
'learning experience', what I do
think is that the concept of
Accident Evacuation Insurance
for staff travelling to remote
places certainly deserves
consideration...'
Arjan den Heijer (left) and Jan Verschoor.
Gust Biesbroeck is the rep in
Hong Kong; Jan Verschoor hj
relocated to Singapore where
the Asian portfolio will be
booked. New York and
London branches are next in
line for the addition of a
Nedship representation.
The Group's Nedship
Merchant Bank (Asia) has
officially opened its second
operation in the Far
East. Following the
establishment of a rep
office in ITong Kong
in 1992, Nedship is
now open for business
in Singapore. Under
the slogan 'Ned-
shipping and Net-
working', the
merchant bank
Rabobank branches, thus
facilitating interaction between
the two sister organizations.
