Applied Development Holdings Limited
Former CEO of Applied Dev (0519), wife and another charged with fraud for hiding interests in HK$110m loans
ICAC, 2-Jun-2022
ICAC, 2-Jun-2022
Yuen Chi Ping resigns as ED & CEO of Applied Dev (0519)
Company announcement, 19-Aug-2020
The euphemism "for devoting more time to his other business commitments" should be translated as "he is currently involved in an ICAC investigation, as previously announced".
Company announcement, 19-Aug-2020
The euphemism "for devoting more time to his other business commitments" should be translated as "he is currently involved in an ICAC investigation, as previously announced".
Yuen Chi Ping suspended as ED and CEO of Applied Dev (0519) pending outcome of ICAC investigation
Company announcement, 10-Jun-2020
Company announcement, 10-Jun-2020
Applied Dev (0519) lends HK$40m for 2 months at 4% p.a. to On Tai International Credit Ltd
Company announcement, 13-Feb-2018
Interestingly this is described as "a further loan" and "the Further Loan" but no information is given on any earlier loan. The borrower is said to be "an independent third party" but no ownership is disclosed. The Borrower is itself a money-lender and is providing security in the form of a loan to a third party, the terms of which are undisclosed.
Company announcement, 13-Feb-2018
Interestingly this is described as "a further loan" and "the Further Loan" but no information is given on any earlier loan. The borrower is said to be "an independent third party" but no ownership is disclosed. The Borrower is itself a money-lender and is providing security in the form of a loan to a third party, the terms of which are undisclosed.
Applied Dev (0519) invests HK$200m in 20% of JV
Company announcement, 12-Dec-2016
The JV is 80% owned by China Tian Yuan International Finance Ltd, the owner of which is not disclosed. The JV has total assets of HK$790.82m at 30-Nov-2016, of which the major investment is "certain domestic shares", the identity of which is not disclosed. We can tell you from other filings that the JV owns 22.02% of the domestic shares of Nanjing Sample Tech (H-shares: 1708) acquired for CNY635.22m on 29-Sep-2016 and that CTYIFL is ultimately owned by Mr Jia Tianjiang.
Company announcement, 12-Dec-2016
The JV is 80% owned by China Tian Yuan International Finance Ltd, the owner of which is not disclosed. The JV has total assets of HK$790.82m at 30-Nov-2016, of which the major investment is "certain domestic shares", the identity of which is not disclosed. We can tell you from other filings that the JV owns 22.02% of the domestic shares of Nanjing Sample Tech (H-shares: 1708) acquired for CNY635.22m on 29-Sep-2016 and that CTYIFL is ultimately owned by Mr Jia Tianjiang.
Mimi Wong Kar Gee v Raymond Hung Kin Sang
HK Court of Final Appeal, 18-May-2015
The long divorce battle surrounding the co-founders of Applied Development (0519) comes to an end, with the husband winning the final round.
HK Court of Final Appeal, 18-May-2015
The long divorce battle surrounding the co-founders of Applied Development (0519) comes to an end, with the husband winning the final round.
China Strategic (0235) buys 8.62% of Applied Development (0519)
Company announcement, 2-Dec-2014
The cost is $0.30 per share, $45m total. These are half of the shares sold in a placement by Raymond Hung Kin Sang, who has been through a messy divorce. His stake is reduced to 31.66%.
Company announcement, 2-Dec-2014
The cost is $0.30 per share, $45m total. These are half of the shares sold in a placement by Raymond Hung Kin Sang, who has been through a messy divorce. His stake is reduced to 31.66%.
Mimi Wong Kar Gee v Raymond Hung Kin Sang
HK Court of Final Appeal, 23-Oct-2014
Leave to appeal on one issue is granted by the Court of Final Appeal, in the long-running divorce battle surrounding Applied Development (0519).
HK Court of Final Appeal, 23-Oct-2014
Leave to appeal on one issue is granted by the Court of Final Appeal, in the long-running divorce battle surrounding Applied Development (0519).
MKKWH v RKSH
HK Court of Appeal, 26-Mar-2014
In the divorce of Mimi Wong Kar Gee and Raymond Hung Kin Sang, the court has come to the view (para 14) that "the shell" (Applied Development (0519)) has a value of HK$258m above NAV. We concur - this is roughly the going rate for back-door listings - but only if you are the controlling shareholder.
HK Court of Appeal, 26-Mar-2014
In the divorce of Mimi Wong Kar Gee and Raymond Hung Kin Sang, the court has come to the view (para 14) that "the shell" (Applied Development (0519)) has a value of HK$258m above NAV. We concur - this is roughly the going rate for back-door listings - but only if you are the controlling shareholder.
MKKWH v RKSH
HK Court of Appeal, 24-Sep-2013
In this divorce case, the value of the controlling shareholding in Applied Development (0519) is based on NAV plus $250m for the shell, or $0.788 per share. This excludes the redevelopment potential of Severn Villa on the Peak, of which ADHL owns 4 units out of 6.
HK Court of Appeal, 24-Sep-2013
In this divorce case, the value of the controlling shareholding in Applied Development (0519) is based on NAV plus $250m for the shell, or $0.788 per share. This excludes the redevelopment potential of Severn Villa on the Peak, of which ADHL owns 4 units out of 6.
Re Lucy Stone QC
HK Court of First Instance, 28-May-2013
In the case of the Ming and Qing antique furniture, Mimi Wong Kar Gee fails to get a London silk admitted, and the HK Bar Association protects its closed shop. We can't have HK Senior Counsel going hungry, can we?
HK Court of First Instance, 28-May-2013
In the case of the Ming and Qing antique furniture, Mimi Wong Kar Gee fails to get a London silk admitted, and the HK Bar Association protects its closed shop. We can't have HK Senior Counsel going hungry, can we?
Mimi Wong Kar Gee v Applied Development (0519) and her ex-husband
HK Court of First Instance, 8-Jun-2012
See paragraph 21 for entertainment.
HK Court of First Instance, 8-Jun-2012
See paragraph 21 for entertainment.
Mimi Wong Kar Gee v Applied Development (0519) and her ex-husband
HK Court of First Instance, 1-Jun-2012
HK Court of First Instance, 1-Jun-2012
Mimi Wong Kar Gee v Applied Development (0519) and her ex-husband
HK Court of First Instance, 22-May-2012
HK Court of First Instance, 22-May-2012
Mimi Wong Kar Gee v Applied Development (0519) and her ex-husband
HK Court of First Instance, 12-Apr-2012
HK Court of First Instance, 12-Apr-2012
Mimi Wong Kar Gee v Applied Development (0519) and her ex-husband
HK Court of First Instance, 31-Oct-2011
HK Court of First Instance, 31-Oct-2011
Mimi Wong Kar Gee v Applied Development (0519) and her ex-husband
HK Court of First Instance, 24-Oct-2011
HK Court of First Instance, 24-Oct-2011
Mimi Wong Kar Gee v Applied Development (0519) and her ex-husband
HK Court of First Instance, 30-Sep-2011
HK Court of First Instance, 30-Sep-2011
Mimi Wong Kar Gee v Applied Development (0519) and her ex-husband
HK Court of First Instance, 30-Aug-2011
Ms Wong alleges that company funds were used to decorate the home of Mr Hung's alleged mistress and to employ her for a non-job. As a shareholder, she seeks access to company documents to investigate this, in the first case to be brought under s152FA of the Companies Ordinance since it came into force on 15-Jul-2005. The judge's liberal interpretation of this section provides encouragement to future activism, although he highlights a flaw in the law - it does not extend to documents of subsidiaries unless the parent has copies already.
HK Court of First Instance, 30-Aug-2011
Ms Wong alleges that company funds were used to decorate the home of Mr Hung's alleged mistress and to employ her for a non-job. As a shareholder, she seeks access to company documents to investigate this, in the first case to be brought under s152FA of the Companies Ordinance since it came into force on 15-Jul-2005. The judge's liberal interpretation of this section provides encouragement to future activism, although he highlights a flaw in the law - it does not extend to documents of subsidiaries unless the parent has copies already.
Trouble and strife at Applied Development
An encrypted Court of Appeal judgment reveals a classic basket case of corporate governance problems at Applied Development (0519) - a case study of what can go wrong with small, family-run HK-listed companies. (18-Jan-2011)
An encrypted Court of Appeal judgment reveals a classic basket case of corporate governance problems at Applied Development (0519) - a case study of what can go wrong with small, family-run HK-listed companies. (18-Jan-2011)
Applied Development "re-designates" Mimi Wong Kar Gee to non-executive director, replaces her with son as Chairman
Company announcement, 10-Jun-2010
Company announcement, 10-Jun-2010
Censure and Criticism of Mr Fang Chin Ping, and Criticism of Mr Raymond Hung Kin Sang
SEHK, 31-May-2005
SEHK, 31-May-2005
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