Li, Jian (Sinocom) 李堅
Listing Committee censures/criticises New Sports (0299), 1 current and 5 former directors
SEHK, 6-Jan-2016
SEHK, 6-Jan-2016
Sinocom (0299): update on investigation by Kroll
Company announcement, 4-Jul-2013
No solid evidence of commercial substance in loans to three entities which then passed money to SJI (Sinocom's parent). "SJI might have been experiencing cash difficulties...as SJI had just made repayments to Haitong" (which financed the takeover of Sinocom). Findings "suggested that Mr Li Jian was the "initiator" of the loan schemes"...by instructing Mr Ngan Leo. Kroll "recovered deleted files" from Ngan's PC, the timing and contents suggested deliberate concealment. COMMENT: the SFC should be investigating this. It appears that Sincom's cash pile was being raided to repay the cost of its own takeover by SJI.
Company announcement, 4-Jul-2013
No solid evidence of commercial substance in loans to three entities which then passed money to SJI (Sinocom's parent). "SJI might have been experiencing cash difficulties...as SJI had just made repayments to Haitong" (which financed the takeover of Sinocom). Findings "suggested that Mr Li Jian was the "initiator" of the loan schemes"...by instructing Mr Ngan Leo. Kroll "recovered deleted files" from Ngan's PC, the timing and contents suggested deliberate concealment. COMMENT: the SFC should be investigating this. It appears that Sincom's cash pile was being raided to repay the cost of its own takeover by SJI.
Sinocom (0299): board now regards the unapproved loans as connected transactions
Company announcement, 23-Apr-2013
The money was lent by the 92% subsidiary, Sinocom Japan, to 3 entities which then funnelled it through to SJI, Sinocom's controlling shareholder. Two of SJI's directors sit on Sinocom's board and should have known about this all along.
Company announcement, 23-Apr-2013
The money was lent by the 92% subsidiary, Sinocom Japan, to 3 entities which then funnelled it through to SJI, Sinocom's controlling shareholder. Two of SJI's directors sit on Sinocom's board and should have known about this all along.
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