Asia-express Logistics Holdings Limited 亞洲速運物流控股有限公司
PKY v CHM
HK District Court, 16-May-2025
CHM is clearly Chan Heung Ming, who founded Kwai Bon Transportation Ltd, which listed on GEM in Apr-2020 as Asia-express Logistics (8620) after he passed the controlling shareholding to his son for free or nominal payment, because CHM (he says) had a criminal record. This transfer was after the divorce, for which he was to pay HK$17m in 72 monthly instalments. He now says he can't pay the remaining 28 instalments. The judge rejects this. We note from the prospectus that CHM received a $15m dividend in Dec-2016, after the divorce and before the transfer to his son.
HK District Court, 16-May-2025
CHM is clearly Chan Heung Ming, who founded Kwai Bon Transportation Ltd, which listed on GEM in Apr-2020 as Asia-express Logistics (8620) after he passed the controlling shareholding to his son for free or nominal payment, because CHM (he says) had a criminal record. This transfer was after the divorce, for which he was to pay HK$17m in 72 monthly instalments. He now says he can't pay the remaining 28 instalments. The judge rejects this. We note from the prospectus that CHM received a $15m dividend in Dec-2016, after the divorce and before the transfer to his son.
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