Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  GET Holdings Limited    8100   BMG3867N1406

GET HOLDINGS LIMITED

(8100)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 01/19
0.42 HKD   0.00%
2019China tech bonds reward investors as trade war fears ebb
RE
2019Russia's Ural Airlines plans to get first Boeing-737 MAX in December - Interfax
RE
2017GET : Appointment of executive director
PU
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Panama-based Balboa Bank & Trust seized following U.S. probe

05/05/2016 | 09:27pm EST
A general view of Balboa Bank & Trust in Panama City

PANAMA CITY (Reuters) - The U.S. Treasury on Thursday blacklisted an extensive Panama-based money laundering operation that allegedly helped multiple drug trafficking groups hide the source of their illicit gains through various companies, including Balboa Bank & Trust.

The U.S. Treasury's Office of Foreign Assets Control (OFAC) said the operation, led by Nidal Waked Hatum and Abdul Waked Fares, used 68 companies including Grupo Wisa - a holding company that includes real estate, construction, retail and media businesses.

Panama's banking regulator said it was taking control of Balboa Bank & Trust due to its alleged links to the money laundering scheme.

"(Treasury's move) puts at risk the interests of (Balboa) depositors ... given that the prestige of the banking group is in question, and a substantial portion of its liquid assets are located in foreign jurisdictions subject to seizure," the regulator said in a statement, adding there was no risk of contagion to Panama's banking system.

Treasury's targeting of the 68 companies freezes any assets they may have in the United States, and prohibits U.S. firms and people from dealing with them.

Balboa Bank, which has $44.1 million in capital and 172 employees, did not respond to phone calls to its offices.

Abdul Waked, president of Grupo Wisa and one of the two alleged leaders of the money laundering operation, called the accusations "false and unfounded" and said the company would work with authorities to clear up the "unfortunate confusion."

To launder money, OFAC said the two men used trade-based schemes like fake invoices, bulk cash smuggling, and a range of companies from real estate to retail, such as a luxury mall in downtown Panama City, the La Riviera chain of duty-free stores, and two Panamanian newspapers: La Estrella and El Siglo.

Treasury said it is allowing the two newspapers to keep printing and operating at least for the next two months.

Balboa Bank is owned by the Strategic Investors Group, a holding company formed in 2010 when it paid $15.5 million to acquire the local affiliate of Stanford Financial Group. That bank was also seized by Panama's regulators when the United States accused it of perpetrating a "massive" fraud.

(Reporting by Élida Moreno, writing by Anna Yukhananov)


© Reuters 2016
All news about GET HOLDINGS LIMITED
2019China tech bonds reward investors as trade war fears ebb
RE
2019Russia's Ural Airlines plans to get first Boeing-737 MAX in December - Interf..
RE
2017GET : Appointment of executive director
PU
2017GET : Supplementary announcement on the annual report for the year ended 31 dece..
PU
2012U.S. companies delay results due to Sandy
RE
2012U.S. companies delay results due to Sandy
RE
More news
Financials
Sales 2019 370 M 47,7 M 47,7 M
Net income 2019 -67,2 M -8,67 M -8,67 M
Net cash 2019 111 M 14,3 M 14,3 M
P/E ratio 2019 -2,78x
Yield 2019 -
Capitalization 187 M 24,1 M 24,1 M
EV / Sales 2018 0,19x
EV / Sales 2019 0,21x
Nbr of Employees 59
Free-Float 25,0%
Chart GET HOLDINGS LIMITED
Duration : Period :
GET Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GET HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Managers and Directors
NameTitle
Long Zhang Chief Executive Officer & Executive Director
Jing Shong Wong Chairman & Compliance Officer
Tsan Kit Chui Independent Non-Executive Director
Yung Chan Independent Non-Executive Director
Hong Kei Cheng Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GET HOLDINGS LIMITED10.53%24
ALIBABA GROUP HOLDING LIMITED4.61%658 714
MEITUAN DIANPING15.75%246 706
PINDUODUO INC.-9.27%197 684
SHOPIFY INC.3.40%143 731
MERCADOLIBRE, INC.10.54%92 348