Memorandum re Hang Seng Bank

Subject: Hang Seng Bank 181 Queen's Road Central Hong Kong ARIEN ARCHIVES RECORDS Related Cases: Dah Chong Hong Ltd. GOVERNED 181-3 Queen's Road Central D.S. Hong Kong Dah Chong Hong Trading Corp. 115 Broadway New York City Hang Seng Bank WTDR Hang Seng Bank acts as a general banking house and commission agent. 9/12/51 A partnership, established in Hong Kong in 1933, the bank is rela- tively large, employing 65 persons. The paid-in capital and the annual volume of business reportedly amount to HK$200,000 and HK$20,000,000. Managing partners of the concern are Ho Sien-Heng and Leung Chik-wai. The other partners are Tsun-ling Zang, Ho Tim, C. P. Lee, Leung Kau Kui, Y. L. Liu and So W. Lee. All of the partners are Chinese. Hong Kong banking sources report that the subject firm is capably managed and financially sound. In July 1951, the Department of Agriculture requested the Consulate General at Hong Kong to inquire into the activities of Hang Seng Bank. The communication from Agri- culture indicated that the Hang Seng Bank was reportedly speculating in U. S. commodity markets. To date, no reply has been received in Commerce regarding Agriculture's query other than a telegram linking Hang Seng Bank and Dah Chong Hong Ltd., and the formal WTDR of Sep- tember 12, 1951 on Hang Seng Bank cited above. Dah Chong Hong, Ltd. WTDR Dah Chong Hong, Ltd., Hong Kong, is a subsidiary of the Hang Seng 7/28/51 Bank, with S. H. Ho (undoubtedly the same as HO Sien-Heng), Leung Chik Wai, Ho Tim, and K. K. Leung serving as principals in both concerns. Other principals of Dah Chong Hong include C. W. Leung, Lee Chak Po, and M. C. Lee. Established in 1946, Dah Chong Hong claims a paid-in capital of HK$1,000,000. Annual volume of business is given as HK$5,000,000. The company imports and wholesales wheat flour, sugar, canned goods, piecegoods, industrial chemicals, dyes and sundries. It exports tung oil, bristles, cassia, tea, and other China produce. This medium-size company employs fifteen persons. At the time of the World Trade Directory Report, branch houses were being maintained in New York (Dah Chong Hong Trading Corp.), Bangkok, Tokyo, Shanghai, DECLASSIFIED E.O. 12065, Sec. 3-402 State Dept. Guideline, June 12, 1979 By NLT- NC NARS, Date 7-16-20