CHINESE ESTATES HOLDINGS LIMITED

Chinese Estates (0127) to sell Windsor House to controlling shareholder Joseph Lau
Company announcement, 23-Dec-2015
By buying the BVI company which indirectly owns the property, they avoid the 8.5% stamp duty which would have cost HK$918m on the $10.8bn property. Incidentally, the Windsor House company owns a nominee membership of The Hong Kong Golf Club valued at HK$12.6m.
Joseph Lau to buy property shell from Chinese Estates (0127), avoiding HK$669.8m Double Stamp Duty
Company announcement, 12-Dec-2014
The property is valued at HK$7.88bn, but he is buying the BVI company that owns it. This avoids 8.5% Double Stamp Duty, an interventionist Government tool which many can legally avoid, unless they need to buy bare property without a corporate wrapper.
HK tycoon Joseph Lau Luen Hung guilty in Macau graft trialHall of Shame
RTHK, 14-Mar-2014
He is thereby inducted into our Hall of Shame. The case reminds us of the late Lim Por Yen, founder of Lai Sun group, who was convicted in Taiwan for corruption over a land transaction. As with Macau, there was and is no extradition treaty between HK and Taiwan. China is actually 1 country, 4 legal systems. After paying NT$40m in bail and being allowed to leave pending appeal, he never returned to Taiwan.
Ao hit with 29 years for 'unmatched graft'
HK Standard, 1-Jun-2012
New sentence for Ao Man-long
RTHK, 31-May-2012
For accepting bribes from Joseph Lau Luen-hung and Steven Lo Kit-sing and for money laundering. The alleged bribers have not yet faced trial.
Chinese Estates (0127): clarification
Company announcement, 24-May-2012
Chinese Estates (0127): Joseph Lau Luen-hung charged in Macau with bribery and money-laundering
Company announcement, 23-May-2012
Chinese Estates (0127): the vendors were independent
Company announcement, 19-Apr-2012
Comment: Chinese Estates still does not disclose who owned the BVI vendors of Moon Ocean, and does not disclose whom Moon Ocean acquired the land from. It does not repeat the 2005 claim that the BVI Lender of a $750m facility to Moon Ocean was an Independent Third Party. In a Macau court, Steven Lo Kit Sing has said that he borrowed the money from Joseph Lau.
Tycoon denies bribery claim
HK Standard, 18-Apr-2012
The article says that a company owned by Joseph Lau and Steven Lo Kit Sing won the tender for the sites - but if this is true, then who sold Moon Ocean Ltd (which acquired the land in 5 agreements in Oct-2005) to Chinese Estates? The vendors were BVI companies who were said by Chinese Estates to be independent. We call on the ICAC and SFC to investigate who owned the vendors and how Moon Ocean bought the land.
Chinese Estates (0127): we and Joseph Lau didn't bribe Ao Man Long
Company announcement, 17-Apr-2012
Joseph Lau buys 3 Deep Water Bay Road from Chinese Estates (0127), avoids 19.25% stamp duty
Company announcement, 7-Nov-2011
He is actually buying a BVI subsidiary which owns the property. That company bought the property for HK$888.8m on 17-Aug-2011. If it had sold him the property, the transaction would have cost a punitive 15% Special Stamp Duty (for resale within 6 months) and 4.25% regular stamp duty, a total duty of 19.25% or HK$171m. By buying the BVI company, there is no duty payable.
Chinese Estates (0127) buys 29.99% of Moon Ocean Ltd from Best Express Holdings Ltd for HK$1.6bn
Company announcement, 28-Mar-2011
The owner of the vendor was not disclosed.
Andy Lam King Hung fined by HKICPAReasons
HKICPA, 17-Nov-2010
HKSAR v Andy Lam King Hung
HK Court of First Instance, 18-Dec-2009
China Strategic bubble
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
SFC secures second jail sentence for insider dealing
SFC, 20-Apr-2009
Thomas Lau Luen Hung v IDT & Financial Secretary
HK Court of Appeal, 9-Apr-2009
Accounting manager of Chinese Estates convicted of criminal insider dealing
SFC, 27-Mar-2009
Weakening of corporate governance and quintupling of Chairman's pay
Company announcement, 31-Dec-2008
The paid advert opposing the blackout rule
With links to the signatories in Webb-site Who's Who. (29-Dec-2008)
SFC commences 5th insider dealing prosecution
SFC, 23-Oct-2008
Thomas Lau Luen Hung v IDT & Financial Secretary
HK Court of Appeal, 19-May-2008
Thomas Lau Luen Hung v IDT & Financial Secretary
HK Court of Appeal, 28-Feb-2008
Thomas Lau Luen Hung v IDT & Financial Secretary
HK Court of Appeal, 11-Sep-2007
Insider Dealing Tribunal makes orders on Asia Orient Holdings Ltd inquiry
HK Government, 15-Dec-2006
Chairman resigns on order of Insider Dealing Tribunal
Company announcement, 15-Dec-2006
New corporate governance measures
Company announcement, 28-Apr-2006
Koon Wing Yee resigns as INED due to directorship ban by Insider Dealing Tribunal
Company announcement, 27-Jan-2006
Chinese Estates (0127) buys 70.01% of Moon Ocean Ltd from Easy Action Ltd (BVI)Circular
Company announcement, 3-Jan-2006
The owner of the vendor was not disclosed. The owner of the BVI Lender was not disclosed either. On 15-Oct-2005 Moon Ocean entered into 5 agreements to buy the land for MOP$1368m. The vendors of the land were not disclosed.
Three lots sold for HK$10.15bn at land auction
HK Government, 27-Sep-2005
Note: KIL11167 and KIL11168 are the site of The Hermitage, total cost HK$5.92bn, a 50:25:25 joint venture between Sino Land, Chinese Estates and Nan Fung Development. The other site, NKIL6350, went to a 100% subsidiary of Sun Hung Kai Properties and became the Aria.
Two lots triggered for land auction
HK Government, 18-Aug-2005
The two lots eventually became The Hermitage.
Hearing on legal costs of insider dealing inquiry concluded
HK Government, 29-Jun-1999
Insider Dealing Tribunal submitted report on Chinese Estates Holdings Ltd
HK Government, 12-May-1999
Report of Insider Dealing Tribunal
IDT, 7-May-1999
Lay member appointed to Insider Dealing Tribunal
HK Government, 18-Jan-1999
Lay members appointed to Insider Dealing Tribunal
HK Government, 21-Nov-1998

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