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Mitsubishi Corporation: Berkshire Hathaway (BRK.AN, BRK.BN) already holds a 10.23% stake in the company.On August 28th, HSBC Research published a report stating that as the impact of volume-based procurement eased, China Medical System (00867.HK) delivered strong first-half results, with revenue and profit increasing by 11% and 3%, respectively, exceeding the banks expectations. The bank raised its earnings forecast for 2025-2027 by 1% to 3%. The bank also noted that the companys share price has significantly outperformed the Hang Seng Index this year, likely due to its optimistic sales growth prospects for its innovative drugs. However, the stock currently trades at 15 times its 2026 forecast price-to-earnings ratio, and with a projected net profit compound annual growth rate of over 20% from 2025-2027, the stock remains attractive. The bank expects further upside potential from the companys innovative drug launches and increased sales, raising its target price from HK$16.1 to HK$16.8, maintaining its Buy rating. The bank expects the companys revenue to reach RMB 8.3 billion, RMB 10 billion, and RMB 12.7 billion in 2025-2027, with profits reaching RMB 1.7 billion, RMB 2 billion, and RMB 2.5 billion, respectively.On August 28, Bank of Japan (BoJ) board member Junko Nakagawa reiterated the banks intention to raise interest rates further, while citing the impact of increased US tariffs as a key concern. "As trade-related uncertainties and their impact on global markets persist, the Bank will make monetary policy decisions as appropriate by continuing to carefully assess available data and information," she said, emphasizing the importance of the upcoming Tankan business survey, which will assess the impact of recent months progress in trade negotiations on Japanese business sentiment. The BoJ has maintained its policy rate at 0.5% since its last hike in January due to concerns about the impact of US tariffs on the economy. Economists expect the BoJ to resume tightening monetary policy soon, given the US and Japan have reached a trade agreement. The BoJs policy board is scheduled to meet on September 18-19.Japans 5-year government bond yield fell 1.0 basis point to 1.150%.On August 26, Li Chenggang, International Trade Negotiator and Vice Minister, attended the Canadian Business Council CEO Roundtable in Ottawa, Canada.

What the Voyager Digital Bankruptcy Means for Your Cash and Crypto

Skylar Shaw

Jul 12, 2022 14:43

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After publishing an update on the assets kept by users on its platform, Voyager (OTCMKTS:VYGVF) is once again in the news. This is the most recent development in the tale since Voyager Digital filed for bankruptcy on July 6.


Since Voyager stopped all withdrawals, deposits, and incentives on July 1st, users have been living in a world of uncertainty. The collapse of the cryptocurrency hedge fund Three Arrows Capital was cited as the reason for the crypto lender's decision to file for Chapter 11 bankruptcy (3AC). Before 3AC disclosed its insolvency, Voyager had financed it $650 million.


If the Federal Deposit Insurance Corporation (FDIC) is backing the US dollars (USD) on the platform is another contentious issue (FDIC). The FDIC is now investigating Voyager's client outreach for deposit insurance.


However, based on the most recent business update, it seems that Voyager clients will be able to receive their USD back. Now let's discuss the specifics.

What Your Cash and Crypto Means After the Voyager Digital Bankruptcy

According to the update, Voyager maintains USD in a Metropolitan Bank For Benefit of Customers (FBO) account (NYSE:MCB). The USD balance in each customer's account is the same as the USD balance Voyager has in its FBO account. Customers' USD will thus be available following "a reconciliation and fraud prevention procedure" and is FDIC-insured. Voyager stressed:


"To be clear: Voyager does not handle client cash; that cash is housed at MCB. FDIC insurance does not protect against the demise of Voyager."


The platform's crypto assets are a separate matter, even if it seems that the FDIC covers Voyager's USD. Currently, Voyager has around $1.3 billion worth of cryptocurrency holdings. Customers will be compensated for their current holdings under the parameters of the Chapter 11 restructuring plan with a mix of cryptocurrency and stock. Customers may choose how much common stock and cryptocurrency they want to get.


Voyager tokens and the remaining cryptocurrency were returned. Customers will furthermore get common shares in the newly reformed firm and money recovered from 3AC. Voyager points out that the suggested approach might yet alter.


Voyager is now seeking further strategic options. The potential of a "third-party investment or sale" was also acknowledged by the corporation.

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