Jardine Matheson

[winston]

So did the STI rise yesterday because of this transaction ?

Any expiry of warrants or options or futures yesterday ? Too obvious ... so could be just an honest mistake.

Anyway, it's down 17% now.

[eauyong]

Not only this transaction.
All the below turned positive or more positive at the last moment of adjustment.
Many of the below was in negative territory prior to adjustment.

IndoAgri
HKLand US$
F & N
CapitaMall
SembMar
Jardine C&C
DBS
OCBC Bk
GoldenAgr
CITYDEV
Semb Corp
ComfortDelGro
Ascendasreit
RafflesEdu
UOB
Gen Int
Wilmar
NOL
ST Engg
Olam
SGX
Yanlord
Capitaland
AscendasIndT
SPC
Kep Corp
Hyflux
Noble Grp
SMRT
SingPost
KepLand
JSH 500US$

[winston]

Ha Ha ... the SGX should learn from the activities in HK...

In HK, they did the same thing as well. HSBC was trading at HK$37 and somebody put in a huge sell order for HSBC at HK$33 and caused the index to plunge. In HK now, they have disallowed the 10 mins after hours trading. So why is it continuing in Spore ?

====================

THE STRAITS TIMES - The Singapore Exchange is investigating a sudden spike in Jardine Matheson shares that caused the broader Straits Times Index <.FTSTI> to close artificially higher on Tuesday.

[winston]

Whenever the market is weak, this counter is strong..

It is as if somebody is using this counter to stabilize the market. Low volume so not too difficult for somebody to push this counter up if he wants to.

Wonder what is happening to the SGX investigation above ?

[millionairemind]

This JMH is perhaps the most kelong stock (other than GAR)

Easily manipulated. Not sure Y it is still in the STI all these years.

[winston]

MM, what is "kelong" ?

As expected, when the market is positive, this one drop close to 4%. Maybe it's the selling from yesterday's buying..

Yes, dont know why this one is in the index. Maybe need to show that big HK companies are listing in Spore, unlike the small kacang putih S-Chips that maybe cant list in HK ..

[millionairemind]

W - haha...

My friends always use "kelong" to stand for BS stock. Here's the official definition from Singlish Dictionary

A n. Cheating, fraud, unfair dealing, spec. the fixing or rigging of a sports event (esp. a soccer match). B v. 1 Manipulate or fix the result of a sports event (esp. a soccer match), rig a competition. 2 Deliberately lose a game, etc.

http://www.singlishdictionary.com/

[winston]

Jardine Matheson Holdings Ltd, which owns car distributors, real estate, supermarkets and hotels in Asia, said that first-half profit dropped 76 per cent on a decline in the value of its investment properties.

Net income fell to US$249 million, or US$0.70 a share, in the six months ended June 30, from US$1 billion, or US$2.89 a year earlier, the Hong Kong-based company said in a statement to London's stock exchange yesterday.

Values of office buildings and malls in Hong Kong have dropped as the city battles its worst recession in a decade. Swire Pacific Ltd, the biggest commercial landlord in the eastern part of Hong Kong island, said on Thursday that it had a net HK$53 million (S$9.8 million) revaluation loss in the first half, reversing a HK$8.09 billion gain a year earlier.

(Sources: Company, SGX, Business Times, Dow Jones)

[winston]

Company History:

Jardine Matheson is one of the oldest names in East Asia, and Jardine Matheson Holdings Limited is an international group of companies with operations mainly in Asia, centered around Hong Kong and China. Of British origin, Jardine Matheson played a key, and rather dubious, role in the founding of Hong Kong, where the group was headquartered until 1984, when it relocated to Bermuda in anticipation of the July 1997 transfer of control of Hong Kong to China.

Controlled through a complicated set of minority holdings by the Keswick family (descendants of cofounder William Jardine) Jardine Matheson is involved in a variety of activities, most prominently trading, financial services, and real estate. Other sectors include supermarkets, consumer marketing, engineering and construction, motor vehicles, insurance, and hotels.

An increasingly multinational entity, Jardine Matheson derives about two-thirds of its revenues from Hong Kong and China, about 15 percent each from other areas of the Asia-Pacific region and from North America, and the remaining five percent or so from Europe.

[winston]

Trading Company Founded in Canton, China, in 1832

William Jardine was born in 1784 in Dumfriesshire, Scotland. After studying medicine, Jardine went to work for the British East India Company as a ship's surgeon, but left the East India Company in 1832, to establish a trading company in Canton, China, with James Matheson, the son of a Scottish baronet, who had served for several years as Danish consul in China.

Trading with the Chinese was made extremely difficult by a xenophobic Manchu government, which believed that as the center of the universe, China already possessed everything in abundance and had no need for the products of "foreign barbarians."

Among other things, Jardine Matheson & Company was restricted to a small plot of land on the banks of the Pearl River, near Canton, and was prevented from "keeping women" or dealing with Chinese merchants who were not officially sanctioned cohongs.

On one occasion, Jardine was struck a blow to the head as he attempted to petition local authorities. Entirely unaffected by the attack, he earned the nickname "iron headed old rat" among the Chinese.

Unable to make money selling manufactured goods to the Chinese, Jardine Matheson began smuggling opium into China aboard ships chartered from Calcutta in British India. Opium clippers sailed under cover of darkness to forbidden ports, while company agents bribed harbormasters and watchmen to prevent being discovered by the authorities.

The Chinese government declared the opium trade to be illegal, but was virtually powerless to stop it. Finally, Chinese authorities seized and destroyed 20,000 chests of opium worth $9 million.

Opium War Led to Founding of Hong Kong in 1842