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What's NewS Issue 8 August/September 1997
short news
9
BLUE CHIP COMPANIES
Karlier this year, a USD 20
million structured trade finance
deal was closed with Safripol
Ltd., subsidiary of a large South
African listed group. This facility
has already revolved three times
and generates substantial
earnings for the bank. We also
acted as co-arranger for a similar
structure where an amount of
ZAR 100 million was put in
place for the South African
owned, global fruit giant Del
Monte Group. Disbursements
are due to commence shortly.
These examples clearly illustrate
what Harding describes as
international interest in South
Africa 'going crazy. The change
>n banking here really is
rhenomenal,' she concludes.
CONTINENTAL FUTURE
Not surprisingly, in a climate of
such change, Rabobank is not
settling for South Africa alone.
Fingers are already in pies of
neighbouring Zimbabwe and
are moving fast into Namibia,
Mozambique and Zambia. Less
developed countries mean a
more self liquidating trade
finance approach, but according
to Den Doop, the whole area is
one of potential. 'Business is
happening down here and the
future looks rosy. We have what
we want in sight, it's just a
matter of getting it on the rails.'
(what's in a word^-
In brief
KIEV STARTING UP
Signing ceremony in Kiev: Jaap
Kool (left), Valery Babich, (centre)
and Alex Sbarov, cbairman and
vice president of the Ukraine
Finance Group (UFG).
A share transfer agreement was
fcigned 2 Juiy, giving Rabobank
international a 35-percent
stake in combination with
management control of Kiev's
new Kyiv International Bank
(KIB). And the intention is to
Dirceu de Miranda and the
'Can Do' team celebrating a
sunny success barbecue-style.
In an emerging market rapidly
becoming as competitive as the
US and Europe, our own South
American Banco Raibobank do
Brasil (RBB) has acheived record
treasury results.Treasurer Dirceu
de Miranda and his 'Can Do'team
were placed thirteenth position
by the Brazilian Central Bank,
referring to a total volume for May
1997,Other runners up from the
Netherlands were competitors
ABN-Amro at 19th and ING
ranking 51 st. And the forecast
continues to look sunny as RBB's
treasury results for the first six
months of 1997 were a record
USD 1.9 million against a budget
of USD 1.2 million.
become the majority
shareholder, according to Jaap
Kool, senior vice president for
Eastern and Central Europe.
'We have ambitious plans for
the region and this is certainly
another step in the right
direction. The acquisition is in
line with our strategy to
develop a network of offices in
Eastern and Central Europe.'
Other shareholders are London
based European Bank for
Regional Development (EBRD)
also with 35 percent, Bank
Ukraine with 16.7 percent and
Poland's Kredyt Bank holding
the remaining 13.3 percent.
Although not yet operational,
the new Kiev management
team expects to be up and
running by year's end.
The Hang Seng and Nikkei need
no introduction, but as the region
continues its strong economie
growth,more and more bourses
and their indices are playing an
active role in Southeast Asia's
development. Here's a round up.
Australia is better known as the
ASX. Sydney-based, it took over
from a cluster of exchanges in
state capitals in 1987.Trading was
fully automated in 1990.The ASX
issues the All-ordinaries as well as
the subsidiary indices All-
industrials and All-resources.
Bangladesh Dhaka-based stock
exchange- no index.
China already has two exchanges
- a bourse in Shenzen and
securities trading in Shanghai.
Two system crashes when trying
to access Shenzen's website.
India's stock-exchange history is
very long, but was traditionally
centred around specific
commercial jurisdictions.Today's
national stock exchange was
opened in 1993 and markets
gradually went live over the next
couple of years.The National
Stock Exchange (NSE) has been
India's premier bourse since 1995.
Korea the country's first
securities trading market was set
up in Seoul in 1911.Current
exchange launched in 1956 and
today counts as one of the
region's largest and most modern.
Malaysia Kuala Lumpur's stock
exchange was established in 1973
and is now the largest bourse in
ASEAN and 13th in the world.
There is also a commodity
exchange trading in rubber and
palm oil called predictably the KL
Commodity Exchange.
Nepal if Katmandu reminds you
of 1960's love, peace and gurus,
think again. It is also home to
Nepal's national bourse.
New Zealand first exchanges date
back to the gold rush of the 1870s
with bourses on both islands. New
legislation in the early 1980s led to
a rethink and by the end of the
decade a single exchange
emerged as national trading
centre in Auckland.
Pakistan three bourses here at
major commercial centres in the
country: Karachi, Lahore and
Islamabad.
Philippines Manila Stock
Exchange (MSE) dates from 1927
when it was modelled on New
York. One of three bourses in the
country, the Makati exchange is
still functional, but the
Metropolitan Stock Exchange is
now inactive.
Singapore one of the four
original tiger markets dating back
to the beginning of this century,
the SES was restructured in 1973
when Malaysia cut currency links.
Malaysia again had a hand in
further restructuring when it
forced companies to delist from
the SES in 1990. Main indicator is
the Straits Times Index; less well-
known is the Singapore Index
(SESI).The SIMEX is a commodities
futures exchange linked to the
Chicago Mercantile and uses
Eurodollars for most contracts.
Taiwan trading started in 1962,
but is primarily local.OTC trading
launched in 1982.
Thailand the Bangkok Stock
Exchange in this original dragon
market also dates from 1962.
Better known is the SET, or
Securities Exchange ofThailand,
which began trading in 1975.
SWITZERLAND IN HOLLAND
Touching base with Flolland's windmills and tulips, the entire
Switzerland office complete with partners, celebrated their ten year
anniversary at head office.
