ALLIED GROUP LIMITED (HK) 聯合集團有限公司

HK Judge misreads HK company law
HK Court of First Instance, 9-Oct-2020
Justice Linda Chan rejects the Allied Props (0056) privatisation, partly because of the voting headcount. Neither she nor Senior Counsel William Wong, leading 2 more barristers, realise that the headcount on privatisations was scrapped years ago. She also dislikes that part of the payout was coming from Allied Properties itself, and there would be no such dividend if the scheme was rejected. The offer was at a 66% discount to NAV but was 99% approved as minority shareholders again threw in the towel, which says something about the state of corporate governance in HK.
APAC Resources (1104): extension of loan to unnamed partyCWT announcement
Company announcement, 19-Jul-2019
APAC again fails to name the borrower and worse, it fails to disclose that the original loan was in default. The company joins its controlling shareholders Allied Group (0373) and Allied Props (0056) and Allied Props' subsidiary SHK (0086) in extending the loan to CWT (0521) along with an unnamed new "Lender F".
Allied Group (0373), Allied Props (0056), SHK (0086): extension of loanCWT announcement
Company announcement, 19-Jul-2019
This again fails to name the borrower, which we have previously identified as CWT (0521), part of HNA Group. Even worse, they fail to disclose that the borrower has defaulted on the original loan facility, as CWT announced on 16-Apr-2019. The total loan amount is increased by 17.14% by each lender, covering the accumulated interest, and an additional unnamed "Lender F" is introduced, raising the loan facility to HK$1640m.
CWT (0521), suspended: security agent seizes assets
Company announcement, 22-Apr-2019
CWT (0521), suspended, defaults on loan from unnamed parties
Company announcement, 16-Apr-2019
We can tell you that the lenders are Allied Group (0373), its subsidiary Allied Props (0056), its subsidiary SHK (0086) and Allied Props' associate APAC Resources (1104), none of which have announced this default. CWT is part of the highly-indebted HNA Group.
Allied Group (0373) & subsidiaries Allied Props (0056) and SHK (0086) lend HK$1176m to unnamed borrower
Company announcement, 2-Oct-2018
We can tell you from subsequent filings that the borrower is CWT (0521), a subsidiary of mainland group HNA. Another unnamed "Lender C" is APAC Resources (1104), which is 34% controlled by Allied Props and lent HK$174m, taking the total to HK$1350m. This follows an earlier 13-month loan of HK$353m on 5-Sep-2017 by SHK.
APAC Resources (1104) lends HK$174m to unnamed borrower
Company announcement, 2-Oct-2018
We can tell you from subsequent filings that the borrower is CWT (0521), part of HNA Group. APAC Resources is 34% controlled by Allied Group (0373) via Allied Props (0056), which is also the parent of SHK (0086). All 4 companies are part of this HK$1350m loan.
SHK (0086) lends HK$500m to unnamed borrowerDisclosure of interest
Company announcement, 29-Jun-2018
This follows an earlier loan of HK$150m made by its parent, Allied Props (0056), still outstanding. Filings show that the borrower is China Health Management Investment Ltd (BVI) and the $500m loan is secured on its holding of 3,165.974m shares (56.6%) in Tongfang Konta (1312), or about $0.158 per share, rising to $0.205 per share while the AP loan is outstanding. AP also has a 2.45% interest in Tongfang Konta via its associate Tian An China (0028).
SHKF's abuse of HKID numbers
Next in our series on the abuse of HKID numbers as passwords comes stockbroker Sung Hung Kai Financial, which uses them to "secure" e-mailed statements. (19-Dec-2013)
The paid advert opposing the blackout rule
With links to the signatories in Webb-site Who's Who. (29-Dec-2008)
HKSAR v Lee Ming Tee
HK Court of First Instance, 8-Jun-2004
Allied Group Ltd & Allied Properties (H.K.) Ltd v Secretary for Justice & Nicholas Charles Allen
HK Court of Appeal, 1-Apr-2004
HKSAR v Lee Ming Tee
HK Court of Final Appeal, 25-Nov-2003
Allied Group Ltd & Allied Properties (H.K.) Ltd v Secretary for Justice & Nicholas Charles Allen
HK Court of Appeal, 10-Oct-2003
HKSAR v Lee Ming Tee
HK Court of Final Appeal, 22-Aug-2003
Re Alun Jones QC
HK Court of First Instance, 18-Jun-2003
HKSAR v Lee Ming Tee
HK Court of Appeal, 11-Feb-2003
HKSAR v Lee Ming Tee
HK Court of First Instance, 13-Dec-2002
HKSAR v Lee Ming Tee & Ronald Tse Chu Fai
HK Court of First Instance, 15-Oct-2002
Allied Group Ltd & Allied Properties (H.K.) Ltd v Secretary for Justice & Nicholas Charles Allen
HK Court of First Instance, 8-Mar-2002
Allied Group Ltd & Allied Properties (H.K.) Ltd v Secretary for Justice & Nicholas Charles Allen
HK Court of First Instance, 10-Dec-2001
HKSAR v Lee Ming Tee & Ronald Tse Chu Fai
HK Court of Final Appeal, 3-May-2001
HKSAR v Lee Ming Tee & Ronald Tse Chu Fai
HK Court of Final Appeal, 22-Mar-2001
HKSAR v Lee Ming Tee & Ronald Tse Chu Fai
HK Court of First Instance, 21-Jul-2000
Lee Ming Tee v SEHK
HK Court of Appeal, 18-Apr-1996
Re Lee Ming Tee
HK Court of Appeal, 6-Mar-1996
Allied Group Ltd, Allied Properties (H.K.) Ltd & Lee Ming Tee v Attorney General & Nicholas Charles Allen
HK Court of Appeal, 20-Sep-1993
Allied Group Ltd, Allied Properties (H.K.) Ltd & Lee Ming Tee v Attorney General & Nicholas Charles Allen
HK Court of Appeal, 16-Sep-1993
Allied Group Ltd, Allied Properties (H.K.) Ltd & Lee Ming Tee v Attorney General & Nicholas Charles Allen
HK Court of First Instance, 11-Jun-1993
Re Ronald Tse Chu Fai
HK Court of First Instance, 20-Nov-1992

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