$35M injection
The Reserve Bank yesterday injected $35 million of short term funds into the money market by way of sellbacks. It brought SISM maturing overnight at 14.76 per cent and S2OM maturing August 18 at 15.02 per cent. Bids totalled S22OM. Energycorp off Energycorp Investments (in receivership), and its associate company, Epicorp Investments (in receivership), have both been delisted by the New Zealand Stock Exchange. They have been removed from the official quotations list after the liquidation of both companies in June. Hilton stake
Pacific Assets has sold its 50 per cent interest in the Cairns International Hilton Hotel. The investment will be bought by interests associated with Japanese investment company, Daikyo Inc, for sAust4o million (SNZ47.6M), the sum for which Daikyo purchased its present 50 per cent holding in the hotel in November, 1987. The sale should represent a net gain of about sAustllM over the book value of the investment of sAust22M, Pacific Assets said.
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Press, 11 August 1988, Page 28
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158$35M injection Press, 11 August 1988, Page 28
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