Market news: Asia media round-up
HSBC Holdings reveals plans for a US$17 billion rights offering and a 29% cut in dividend payments after reporting a 70% drop in 2008 net profit. Hang Seng Bank also announces a 23% fall in 2008 earnings. Separately, Reliance Industries moves to take full control of its refinery unit, and the sale of AIG’s Asian assets is expected to be delayed or even scrapped following the insurer’s latest government bail-out.
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