HONG KONG, Aug 15 (Reuters) - Concern over potential losses
linked to the U.S. subprime mortgage crisis has seen a number of
Asian firms state the extent of their exposure, which is mostly
through holdings of structured products such as collateralised
debt obligations (CDOs) and asset-backed securities (ABS).
Below is a list of the companies and fund managers in the
Asia-Pacific region that have reported being affected by the
U.S. subprime meltdown or the ensuing turmoil in global credit
markets.
Aug 15
BASIS CAPITAL
Australian hedge fund Basis Capital said that losses at one
of its funds may exceed 80 percent because of further credit
deterioration, extending a July warning that some investors
could receive less than 50 cents to the dollar. [ID:nSYD23615]
Aug 14
SUMITOMO MITSUI FINANCIAL GROUP INC (8316.T)
Japan's No. 3 bank said it booked a loss of "billions of
yen" in the April-June quarter through its sale of 350 billion
yen (US$2.99 billion) worth of mortgage-backed securities.
[ID:nT165953]
MITSUBISHI UFJ FINANCIAL GROUP (8306.T)
Japan's Mitsubishi UFJ, the world's biggest bank by assets,
said it booked an appraisal loss of 5 billion yen on investments
related to the subprime loan market. It said its outstanding
balance of investment in such products was 280 billion yen as of
July. [ID:nT142334]
RAMS HOME LOANS GROUP LTD (RHG.AX)
Australian mortgage lender RAMS said its earnings could be
hit if global credit markets remain volatile, sending its shares
as much as 32 percent lower. [ID:nSYD306996]
Aug 8
SHINSEI BANK LTD (8303.T)
Japan's Shinsei Bank said it wrote down $29 million in
assets due to problems in the U.S. housing loan market and that
its total exposure to the market was less than $500 million.
Aug 7
UNITED OVERSEAS BANK (UOBH.SI)
Singapore's second-biggest lender said is made some
provisions for its exposure to collateralised debt obligations
(CDO). The bank said it had total CDO investments of S$392
million and that provisions of S$34 million had been made as of
end June. Further mark-to-market losses of S$15 million are
expected as at end July, it said. [ID:nSGC000802]
For a list of Singapore banks' exposure to the CDO market,
click on [ID:nSIN220059]
Aug 3
MITSUBISHI UFJ FINANCIAL GROUP
Japan's biggest lender, the most exposed of the country's
three top banks to the U.S. subprime market, said it had about
300 billion yen in related instruments, mainly asset-backed
securities, as of mid-July. [ID:nHKG34559]
SHIN KONG FINANCIAL (2888.TW)
The company, which operates Taiwan's second-biggest life
insurer, said about one-third of its T$10.53 billion (US$32
million) in asset-backed securities (ABS) holdings are related
to U.S. subprime mortgage products. [ID:nTP41073]
Aug 2
TAIWAN LIFE INSURANCE (2833.TW)
The company said it posted a T$428 million loss due to an
investment in the Bear Stearns BSC.N High Grade Credit
Strategies Fund. [ID:nTP348015]
Aug 1
MACQUARIE BANK MBL.AX
Australia's biggest investment bank said retail investors in
two of its of debt funds face losses of up to 25 percent. It
said the funds had invested in securitised loans and had no
direct exposure to U.S. subprime mortgages. [ID:nSYD14012]
July 26
ABSOLUTE CAPITAL
Australian hedge fund manager Absolute Capital, half-owned
by ABN Amro AAH.AS, suspended withdrawals in two funds with a
combined A$200 million (US$164.7 million) in assets because of
difficulty offloading investments in CDOs. [ID:nSP205623]
July 25
NOMURA HOLDINGS (8604.T)
Japan's biggest brokerage said it may pull out of the U.S.
mortgage market and booked a quarterly loss of 34.3 billion yen
at its U.S. unit, on top of a 39.3 billion yen deficit in the
previous quarter. [ID:nT251973]
July 19
BASIS CAPITAL
Australian hedge fund Basis Capital warned investors in the
$2 billion hedge fund they may get only half their money back
and appointed accountants to manage the sale of assets after
heavy losses in the U.S. subprime mortgage market, according to
media reports. [ID:nSYD108631]
For a FACTBOX on European exposure to the U.S. subprime
market please double click on [ID:nL1544530]
For a FACTBOX on U.S. financial services firms' exposure to
mortgages please double click on [ID:nN08351582]
(US$1=A$1.214=T$33.00=116.79 yen)
