Target Smart Limited (VG)

Raking muck, Part 2
Continuing our series, we look at a set of over-priced acquisitions and questionable transactions by China Post e-Commerce and others, building a matrix which demonstrates the close connections between the persons involved. We call on the SFC to investigate. (27-Feb-2012)
China Outdoor Media (0254) issues 150m and 60m warrants to Mr Kwok Ming Fai & Mr Huang Gui Dong respectively
Company announcement, 6-May-2009
We note that Mr Huang's company, Target Smart Ltd, was the purchaser in a major disposal by China Outdoor Media on 26-Nov-2008, when it sold First Union Ltd, which owned a property in Inner Mongolia, on 1-year payment terms. At the time, the owners of Target Smart Ltd (in the plural) were not disclosed.
China Outdoor Media (0254) sells Inner Mongolia property to Target Smart Ltd
Company announcement, 1-Dec-2008
COMG doesn't say who owns Target Smart. It books a loss of HK$14.4m on the sale, which is priced 18% below valuation.

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