ING and Capital One

[CivicFan]

I am having a hard time determining HSBC ownership by Li Ka Shing. All I can find is close business relationship starting when he bought a stake in a port dock from HSBC in the 70-s and the latest major deal being him underwriting $300 mln common stock issue by HSBC.

Can you tell us what % ownership stake Li Ka Shing or his companies has in HSBC?

 

[PandaBear]

Originally Posted By: JHZR2
So when the western world defaults on their debts and China absorbs all assets including corporations that they can take in, is HSBC safe, or will it get absorbed in like the rest?

...And I understand that most money is electronic funny money, and that banks only hold a very small amount in reserve... But is there an ability to "freeze" my assets?

Are they truly a British company or not? Lots of Chinese firms trade stock on the NYSE too.

It may be fantasy land, but Id rather not chance that if I can avoid it. I dont know enough about it, but might as well discuss since options need to be considered. If rates are better elsewhere, I dont see Capital One doing favors to make them better - jumping ship may still be prudent.


They are more of a British company than a Hong Kong one. Their mainland China assets were confiscated by the communism back in 1949 and their CEOs have almost always been Brits. Most of their branches outside Hong Kong are in UK and Europe as well, almost none in China other than some major cities' financial district. If anyone were to bail them out it would be the British government rather than the Chinese, but in today's world, it would most likely be international effort. And if China is done absorbing all the debt in the world, HSBC's survival is the last thing of your worry.

 

[PandaBear]

Originally Posted By: jaj
Wow. A real festival of misinformation. HSBC - the Hongkong & Shangai Banking Corporation - is owned by one of the world's wealthiest men - Li Ka Shing. He's wealthy but one of the good guys, as far as I can tell. He creates value by making and selling things, not buying companies and stripping their assets and putting their employees out of work.


Nope, he is not a major share holder in HSBC.

Saint is in the eyes of beholder. He made most of his money in real estate development (condo complex development in Hong Kong), telecommunication, grocery stores, etc, rather than investment banking and equity funds. Like all big businesses in Hong Kong and Taiwan, he is in the pocket of China and owns 50% of facebook pre IPO (Chinese government knows better not to own facebook directly).

He is one of the top 10 wealthiest people (excluding politicians and royals) in the world, and pledge to donate 1/3 of his wealth to charity after his death.

 

[jaj]

Oops - it looks like the Li and HSBC connection is a little less developed than I thought. He probably holds some of it, and he was one of the five HK billionaires that put together a rescue package for it in the wake of the 2008 crash, but he certainly doesn't "own" it. Sorry.

I consider him one of the good guys because his son Victor Li ran Concord Pacific, the property developer that built a residential vast complex in downtown Vancouver, changing an old industrial area into a very livable part of the city. Victor was actually in Vancouver a lot while this was being done, and he left a lasting good impression. Not a lot of billionaire's children can pull that off.