| For immediate release | 3 December 2001 |
Due to overwhelming customer responses to our "Prime rate minus 1%" for "Hang Seng Index (HSI) Constituent Stocks Margin Financing", Dao Heng Securities Limited ("DHS") today announces the extension of this "super low" interest rate offer of HSI Constituent Stocks Margin Financing until further notice.
This HSI Constituent Stocks Margin Financing offers a maximum loan amount of HK$10,000,000 and finances up to 70% of the market value of the securities at a very preferential interest rate of Prime rate minus 1%. The securities for this Margin Financing include all the 33 HSI Constituent Stocks, HKEX (stock code: 388) and Tracker Fund (stock code: 2800). The minimum loan limit is HK$200,000 with 12-month loan duration. Apart from the one-off application fee of HK$100 charged upon approval, there is no other additional cost. Besides, interest will only be charged on the loan amount used. Application procedure is very easy. Simply follow the procedure posted on our web site at www.dhsec.com.
Dao Heng Securities would offer very attractive interest rate for clients' credit balances held in Trust Account regardless of the amount of the credit balance e.g. the interest rate payable effective 8 November 2001 is 0.75% p.a. Our customers thereby can enjoy interest rate on their credit balances much higher than banks' savings deposit rate as well as have the convenience of trading and settlement.
Ms. Stella Fung, DHS Executive Director and General Manager said, "The sharp fall in the stock market in the past few months provides a golden opportunity for investors to accumulate quality shares, such as HSI Constituent stocks, at these lower prices. This margin financing is specially designed for those customers who would like to capitalize investment at low cost to gain maximum returns."
"This margin financing provides real values to customers without any complicated gimmicks. We also put great emphasis on our product transparency, by stating the terms and conditions and details of provisions which customers are concerned about clearly on the application form. Customers can also call up our Customer Service Hotline 2218 2818 to obtain detailed information. We are pleased to offer this attractive margin financing product to build up long-term relationships with our customers. We want to help our customers get a better return on their investments - we are their partners in wealth management, if they do well we will do well too," Ms. Fung said.
"Even before the deregulation of commission charges in April next year, the competition within the industry has already driven the profit margin to a very low level. But, Dao Heng Securities is ready to face the challenge and is committed to providing more quality and value-added services to our customers. We are positioning ourselves as investment advisers - wealth managers to our customers and will be offering more products such as funds, bonds, equity-linked notes, general insurance etc. in the near future to suit the needs of our customers."
About Dao Heng Securities Limited
Dao Heng Securities Limited is an established brokerage house, holding 5 trading rights on The Stock Exchange of Hong Kong Limited. The company offers professional financial advice and technical support with a full range of trading services, which include, in-house research report, financial advisory services, listed companies information, online initial public offer ("eIPO"), margin financing, custodial and nominee services, corporate finance, and multi-channels stocks trading services. More information on DHS products and services are available on www.dhsec.com.
Established in Hong Kong in 1981, Dao Heng Securities is a wholly owned subsidiary of Guoco Group Limited (stock code: 0053).
For further information, please contact:
Dao Heng Securities Limited
Phyllis Cheung - Manager Marketing
Tel: 2218 2872 Fax: 2285 3144
E-mail: Phyllis.cheung@guoco.com
Appendix 1
The followings are details of Dao Heng Securities "Hang Seng Index (HSI) Constituent Stocks Margin Financing Scheme" at Prime rate minus 1%:
| Minimum Loan Limit | HK$200,000 |
| Securities | All 33 HSI Constituent Stocks, HKEX (388) & Tracker Fund (2800) |
| Interest Rate | Prime rate minus 1% p.a. |
| Margin of Finance | Up to 70% of market value of the securities |
| Loan Duration | 1 year (from date of approval) |
| Commitment Fee | Nil |
| One-off Application Fee | HK$100 (charged upon approval of loan) |
| Application Procedure | Please refer to the procedure posted on our web site at www.dhsec.com or call our Customer Service Hotline 2218 2818 for more information |
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