Weekly briefs

Jardine Fleming Asia suspended, Great expectations, Irving tries to get in on the act.

Sunday, March 1st 1998, 12:00AM

NZSE suspends Jardine Fleming Asia
The New Zealand Stock Exchange suspended quotation of Jardine Fleming Asia on Friday following a decision to wind the company up.
Earlier in the week a special meeting of the company resolved to volunatarily wind up the company.
The company is an investment concern focused on listed Asian stocks, and as the Asian financial crisis took hold the value of its portfolio slumped.
Late in 1997 the company expressed concern that the share was trading at around 80 per cent of its net tangible asset backing, and it declared its intention to propose to wind the company up and distribute the assets.

After the meeting approved the resolution, liquidators were appointed.
The share was suspended by the Australian Stock Exchange on Thursday.

Great expectations
A survey of nine large investment management firms predicts a relatively positive future for New Zealand markets.
Aon Consulting’s January investment forecasts survey shows that on average managers expect New Zealand equities to produce a 12.5 per cent return before tax and expenses in the calendar 1998 year.
A survey done in October 1997 produced similar expectations for New Zealand shares (12.8 per cent).
The big changes in expectations since October have been in international markets. Managers bumped up their return expectations for both international equities and bonds. Equities rose 2.1 per cent to 9.9 per cent and bonds have gone from 6.7 per cent to 8.3 per cent.
On the local front managers raised their expectations for fixed interest 1 per cent to 7.3 per cent and property 0.9 per cent to 11.1 per cent.
Cash stayed relatively static at 7.7 per cent.

Irving tries to get in on the Act
Former Sovereign staffer and financial planner Moira Irving has thrown her hat into the ring for the Taranaki- King Country by-election.
Irving, of Egmont Village, will stand for nomination as an Act candidate.
Irving says it will be no easy task for Act to win the seat, however the by-election was a chance to send Wellington a message that the National-New Zealand First coalition is unacceptable, she says.
The by-election, to be held on May 2, follows the decision by former Prime Minister Jim Bolger to resign from Parliament and take up the position of High Commissioner in Washington, DC.

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