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Re: Chailease Credit Services

17 Jan 2007 08:53

HSBC Holdings PLC17 January 2007 HSBC TO ACQUIRE CHAILEASE CREDIT SERVICES TO BECOME LARGEST TWO-FACTOR EXPORT BUSINESS IN TAIWAN The Hongkong and Shanghai Banking Corporation Limited has entered into anagreement to acquire 100 per cent of Chailease Credit Services Co., Ltd., one ofTaiwan's leading factoring companies. Taiwan is the world's second largest factoring market, a testament to theisland's prominent position in Asian trade. Chailease Credit Services, the sixthlargest factor in Taiwan, is the factoring arm of Chailease Finance Company. Ithas a gross asset value of US$99.6 million (about NT$3,264 million) at the endof 2005 and focuses mainly on two-factor export trade, handling transactions inwhich both buyer and seller use factoring. HSBC currently has a small factoring operation in Taiwan. This acquisition willincrease considerably HSBC's share of a large market and will add substantiallyto its increasingly popular cross-border services in the region. Michael Smith, President and Chief Executive Officer of The Hongkong and Shanghai Banking Corporation Limited, said: "The acquisition of the ChaileaseCredit Services factoring business is a good fit with our global commercial banking strategy. It will turn HSBC into the largest two-factor export businessin Taiwan, the world's second largest factoring market by turnover. It will alsoprovide a solid base for us to expand our receivables finance business in the Greater China region through economies of scale, experienced staff and integrated systems." The acquisition, which is subject to regulatory approval and other conditions,is expected to be completed in the first quarter of 2007. 1. HSBC in TaiwanHSBC's presence in Taiwan dates back to 1885 when The Hongkong and ShanghaiBanking Corporation Limited appointed an agent in Tamsui. A full service branchwas established in Taipei in 1984. The bank now has a network of eight branchesisland-wide and employs some 2,300 staff. In September, the bank launched HSBCDirect, a direct banking service for the Taiwan consumer market that offersconsistently higher rates of returns. 2. Chailease Credit ServicesChailease Credit Services Co., Ltd. (CCS) is a wholly owned subsidiary ofChailease Finance Co. Ltd. (CFC). CCS commenced its factoring operation in 1987and was spun off from CFC in 2000. CCS provides factoring services andtrade-related consultancy to corporates in Taiwan. It has a gross asset value ofUS$99.6 million (about NT$3,264 million) at the end of 2005 and 45 staff. 3. The HSBC GroupThe Hongkong and Shanghai Banking Corporation Limited is the founding and aprincipal member of the HSBC Group which, with around 9,500 offices in 81countries and territories and assets of US$1,738 billion at 30 June 2006, is oneof the world's largest banking and financial services organisations. This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
14th Jun 20245:20 pmRNSTransaction in Own Shares
14th Jun 202411:00 amRNSIssuance of contingent convertible securities
13th Jun 20245:30 pmRNSTransaction in Own Shares
13th Jun 20247:00 amRNSIssuance of contingent convertible securities
12th Jun 20245:24 pmRNSTransaction in Own Shares
11th Jun 20245:38 pmRNSTransaction in Own Shares
11th Jun 20241:00 pmRNSFirst Interim and Special Dividend - Exchange Rate
10th Jun 20245:15 pmRNSTransaction in Own Shares
7th Jun 20245:32 pmRNSTransaction in Own Shares
6th Jun 20245:16 pmRNSTransaction in Own Shares
5th Jun 20245:44 pmRNSTransaction in Own Shares
4th Jun 20245:22 pmRNSTransaction in Own Shares
3rd Jun 20245:12 pmRNSTransaction in Own Shares
31st May 20245:23 pmRNSTransaction in Own Shares
31st May 20244:30 pmRNSTotal Voting Rights
30th May 20245:28 pmRNSTransaction in Own Shares
29th May 20245:28 pmRNSTransaction in Own Shares
29th May 20244:30 pmRNSDirector/PDMR Shareholding
28th May 20245:27 pmRNSTransaction in Own Shares
28th May 20247:00 amRNSTransaction in Own Shares
24th May 20245:38 pmRNSTransaction in Own Shares
23rd May 20245:30 pmRNSTransaction in Own Shares
22nd May 20245:23 pmRNSTransaction in Own Shares
21st May 20245:25 pmRNSTransaction in Own Shares
20th May 20245:34 pmRNSTransaction in Own Shares
20th May 20243:06 pmRNSIssuance of senior unsecured notes
17th May 20245:32 pmRNSTransaction in Own Shares
17th May 20242:30 pmRNSIssuance of senior unsecured notes
16th May 20245:23 pmRNSTransaction in Own Shares
15th May 20245:40 pmRNSTransaction in Own Shares
15th May 202411:00 amRNSResults of tender offers for four series of notes
14th May 20245:55 pmRNSPricing terms for tender offers for notes
14th May 20245:54 pmRNSTransaction in Own Shares
14th May 20248:52 amRNSHolding(s) in Company
13th May 20245:30 pmRNSTransaction in Own Shares
13th May 20249:23 amRNSHolding(s) in Company
13th May 20249:16 amRNSPre Stabilisation Notice
10th May 20245:28 pmRNSTransaction in Own Shares
10th May 202410:01 amRNSDirector/PDMR Shareholding
10th May 202410:00 amRNSOverseas Regulatory Announcement - Grant of Awards
10th May 20249:03 amRNSHolding(s) in Company
9th May 20245:36 pmRNSTransaction in Own Shares
8th May 20245:40 pmRNSTransaction in Own Shares
8th May 20247:00 amRNSHSBC tender offers for four series of notes
7th May 202410:30 amRNSHSBC Holdings plc – Share buy-back
3rd May 20243:20 pmRNSAGM poll results + changes Board+Ctte composition
3rd May 202411:06 amRNSHSBC Holdings plc - AGM Statements
1st May 20244:30 pmRNSDirector Declaration
1st May 20244:00 pmRNSPublication of base prospectus supplement
30th Apr 20244:15 pmRNSDirector/PDMR Shareholding

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