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United States Foreign Investments Hong Kong

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BUSINESS
September 16, 1987 | Associated Press
Marine Midland Banks Inc. said Tuesday that it accepted Hongkong & Shanghai Banking Corp.'s sweetened $756-million buyout bid, an offer analysts predicted would go over well with shareholders. Under the agreement, a wholly owned subsidiary of the Hong Kong-based banking company would pay $83 per share, plus a special cash dividend of 51 cents per share for the 48% of Marine's 18.87 million shares that it does not already own.
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BUSINESS
March 5, 1998
SRS Labs Inc. said Wednesday it has completed its acquisition of Hong Kong-based Valence Technology Inc. for $19.5 million in cash and stock. Valence, a maker of video CD machines, will operate as a wholly owned subsidiary of SRS Labs. Valence operates five offices located in Hong Kong and China with 130 employees. SRS, which develops audio systems, said the acquisition should substantially increase its revenue base in China, one of its most important growth markets.
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BUSINESS
May 20, 1991 | GEORGE WHITE, TIMES STAFF WRITER
While much of the U.S. hotel industry has retrenched after suffering expansion-related losses in recent years, Japanese- and Chinese-owned companies are aggressively buying and building new properties in America to increase their presence in the hospitality business.
BUSINESS
November 26, 1997 | BRAD BERTON, SPECIAL TO THE TIMES
A real estate investment operation affiliated with one of Hong Kong's wealthiest families will acquire one of the tallest office towers in Beverly Hills today for $27 million, the president of the buyer company confirmed. The K.S. Lo family-controlled company's acquisition of the 12-story tower at 9701 Wilshire Blvd. continues a recent string of sales of high-profile office buildings on the fast-recovering Westside.
NEWS
December 2, 1995 | GREG MILLER, TIMES STAFF WRITER
AST Research Inc. has fired 530 employees at a factory in Hong Kong as part of what the company said is an effort to cut costs and buy more of its computer components from outside vendors. The Irvine-based computer manufacturing giant also said its second-quarter earnings will be reduced by $20 million as a result of the restructuring. The troubled company has posted five consecutive quarterly losses totaling almost $196 million.
BUSINESS
June 23, 1994 | Debora Vrana, Times staff writer
Foothold in Asia: Century 21 Real Estate Corp., the international real estate brokerage, has opened 30 offices in Hong Kong. Finding that foreign markets are increasingly receptive to U.S. home-selling techniques, Irvine-based Century 21 is stepping up its activity overseas, especially since the real estate downturn at home.
NEWS
December 2, 1995 | GREG MILLER, TIMES STAFF WRITER
AST Research Inc. has fired 530 employees at a factory in Hong Kong as part of what the company said is an effort to cut costs and buy more of its computer components from outside vendors. The Irvine-based computer manufacturing giant also said its second-quarter earnings will be reduced by $20 million as a result of the restructuring. The troubled company has posted five consecutive quarterly losses totaling almost $196 million.
BUSINESS
November 8, 1994 | Jack Searles
Siemens Solar Industries, a Camarillo firm that for years has claimed to be the world's leading supplier of solar-energy products, has sold its solar-lighting business to a Hong Kong company that formerly manufactured outdoor lights and other items for Siemens. Terms of the sale weren't disclosed, but a Siemens Solar spokeswoman said the Hong Kong firm, Alpan Products Ltd., has acquired about 10% of Siemens' business.
BUSINESS
June 23, 1994 | Debora Vrana, Times staff writer
Foothold in Asia: Century 21 Real Estate Corp., the international real estate brokerage, has opened 30 offices in Hong Kong. Finding that foreign markets are increasingly receptive to U.S. home-selling techniques, Irvine-based Century 21 is stepping up its activity overseas, especially since the real estate downturn at home.
BUSINESS
October 1, 1993 | From Times Staff and Wire Reports
Hong Kong Franchise: Century 21 Real Estate Corp. of Irvine said that it has expanded to Hong Kong by selling a master franchise for the area to a local entrepreneur there. With its new partner, Luke Kai Man Ng, the company created Century 21 Hong Kong Ltd., which expects to open a real estate brokerage operation in the Southeast Asian city soon, said Century 21 spokeswoman Susan Pretkus Combs. Century 21 already has 6,000 real estate offices in the United States and in eight other countries.
BUSINESS
June 27, 1991 | CRISTINA LEE, TIMES STAFF WRITER
Real estate brokerage Coldwell Banker has opened a satellite office in Hong Kong to work with what it says is an increasing number of Asian buyers interested in buying North American properties. Chandler Barton, chairman and chief executive of Coldwell Banker's residential group, said the Hong Kong office will refer prospective buyers to appropriate Coldwell branches in North America.
BUSINESS
May 20, 1991 | GEORGE WHITE, TIMES STAFF WRITER
While much of the U.S. hotel industry has retrenched after suffering expansion-related losses in recent years, Japanese- and Chinese-owned companies are aggressively buying and building new properties in America to increase their presence in the hospitality business.
BUSINESS
September 25, 1989 | From Associated Press
A Hong Kong investment concern has increased its stake in Cummins Engine Co. to 13.5%. Industrial Equity (Pacific) Ltd. said in a filing Friday with the Securities and Exchange Commission that it had purchased another 204,700 shares of the Indiana diesel engine-maker's stock since last Tuesday. The purchases, all on the New York Stock Exchange at prices ranging between $62.51 and $63.17, gave IEP a total of 1.38 million shares of Cummins common stock, raising its stake from 11.5% to 13.5%.
BUSINESS
May 1, 1990 | John O'Dell, Times staff writer
Tustin Acura, which opened its doors in March, 1986, has been in the unique position of being the only foreign-owned new car dealership in the county. Its parent is the Dah Chong Hong Trading Corp. of Hong Kong, which owns a stable of about 30 auto dealerships in the United States, mainly on the East Coast. Now, in what appears to be a sign of the times, a $2.
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