Or, Johnny Wai Sheun 柯為湘
Kowloon Development (0034) sells Johnny Or's home to Johnny Or
Company announcement, 11-May-2011
By selling the company, King's City Holdings Ltd, to Mr Or, rather than the property it owns, the transaction avoids 4.25% stamp duty on $141m, or $5.99m, or about 27 months' rent. Instead, the duty will be 0.2% on the company value (net of liabilities) of $93.124m, or duty of $186k. The company was the original developer of the building, and apart from the penthouse duplex it owns 17 car spaces.
Company announcement, 11-May-2011
By selling the company, King's City Holdings Ltd, to Mr Or, rather than the property it owns, the transaction avoids 4.25% stamp duty on $141m, or $5.99m, or about 27 months' rent. Instead, the duty will be 0.2% on the company value (net of liabilities) of $93.124m, or duty of $186k. The company was the original developer of the building, and apart from the penthouse duplex it owns 17 car spaces.
Kin Don't
We have a rule of thumb when investing in small-caps: if a stock is going to implode, it will usually do so within the first 2 years after listing. Suit maker Kin Don provides an excellent example of this. Enjoy this horror story of questionable announcements, timely directors' dealings and several demonstrations of how to exploit Hong Kong's weak regulatory framework. (1-Sep-2000)
We have a rule of thumb when investing in small-caps: if a stock is going to implode, it will usually do so within the first 2 years after listing. Suit maker Kin Don provides an excellent example of this. Enjoy this horror story of questionable announcements, timely directors' dealings and several demonstrations of how to exploit Hong Kong's weak regulatory framework. (1-Sep-2000)
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