High Rhine Limited
Oshidori (0622) sells 45m shares (3.62%) of Seekers Partners Ltd (fka Satinu Resources Group Ltd) to High Rhine Ltd for HK$75m and HK$200m IOU
Company announcement, 14-Dec-2020
High Rhine Ltd is 100% owned by Co-Lead Holdings Ltd.
Company announcement, 14-Dec-2020
High Rhine Ltd is 100% owned by Co-Lead Holdings Ltd.
Oshidori (0622) sells 100m shares (8.06%) of Satinu Resources Group Ltd to High Rhine Ltd for HK$650m
Company announcement, 12-Aug-2020
The owner of the purchaser is not disclosed, but our records indicate that it is owned by Co-Lead Holdings Ltd, which is 2.95% owned by Oshidori.
Company announcement, 12-Aug-2020
The owner of the purchaser is not disclosed, but our records indicate that it is owned by Co-Lead Holdings Ltd, which is 2.95% owned by Oshidori.
CST (0985) discloses ownership of High Rhine Ltd
Company announcement, 3-Aug-2020
It is 100% owned by Co-Lead Holdings Ltd, which is 52.28% owned by Freewill Holdings Ltd, which is 83.68% owned by Bob May Inc, which doesn't have any holders over 30%.
Company announcement, 3-Aug-2020
It is 100% owned by Co-Lead Holdings Ltd, which is 52.28% owned by Freewill Holdings Ltd, which is 83.68% owned by Bob May Inc, which doesn't have any holders over 30%.
CST (0985) grants 2-year 7% HK$200m loan facility to High Rhine Ltd
Company announcement, 17-Jun-2020
CST fails to say who owns the borrower. We can add that as of 2-Apr-2020 it was owned by Co-Lead Holdings Ltd, a hub in what we call the "Chung Nam Network".
Company announcement, 17-Jun-2020
CST fails to say who owns the borrower. We can add that as of 2-Apr-2020 it was owned by Co-Lead Holdings Ltd, a hub in what we call the "Chung Nam Network".
Oshidori (0622) 2019 annual report
Company filing, 24-Apr-2020
This reveals that in the second half of 2019, the group received 37,878,594 shares of Satinu Resources Group Ltd from "a third party borrower" in settlement of a debt of HK$244.047m, resulting in a loss of $109.55m. This rounds up Oshidori's holding to exactly 145,000,000 shares. So it is likely that the borrower owns more. Update: on 12-Aug-2020, Oshidori began selling its Satinu shares to High Rhine Ltd (100% owned by Co-Lead Holdings Ltd) and revealed that the borrower was High Rhine Ltd.
Company filing, 24-Apr-2020
This reveals that in the second half of 2019, the group received 37,878,594 shares of Satinu Resources Group Ltd from "a third party borrower" in settlement of a debt of HK$244.047m, resulting in a loss of $109.55m. This rounds up Oshidori's holding to exactly 145,000,000 shares. So it is likely that the borrower owns more. Update: on 12-Aug-2020, Oshidori began selling its Satinu shares to High Rhine Ltd (100% owned by Co-Lead Holdings Ltd) and revealed that the borrower was High Rhine Ltd.
Joint Global Ltd joint venture agreement dated 15-Sep-2015
Company filing, 7-Jun-2017
Thanks to the SFC's Takeovers Code, this agreement has been published online by CMBC Capital Holdings Ltd (1141), one of the 11 entities in what we call the "Chung Nam Network" which pooled their shares in HEC Capital Ltd into Joint Global Ltd, which then imploded like a black hole. It relates to our story "The Joint Global implosion", 30-Sep-2016.
Company filing, 7-Jun-2017
Thanks to the SFC's Takeovers Code, this agreement has been published online by CMBC Capital Holdings Ltd (1141), one of the 11 entities in what we call the "Chung Nam Network" which pooled their shares in HEC Capital Ltd into Joint Global Ltd, which then imploded like a black hole. It relates to our story "The Joint Global implosion", 30-Sep-2016.
Mason (0273) sells Willie Link Ltd for HK$400m
| Circular
Company announcement, 4-Nov-2016
This was done in 2 blocks. 45% was sold in Mar-2016 to Apex Corporate Investments Ltd for HK$200m, and 55% now to Best Mate Ltd, owned by Kenneth Chan Chak Kai, for HK$200m. Mason fails to say who owns Apex. We can tell you that it was once owned by CIFG (0412) which sold it to High Rhine Ltd (BVI) on 20-Nov-2014. According to Mason's 2015 accounts, it acquired High Rhine in Jun-2015. Update: a Mason rights issue circular on 13-Dec-2016 reveals the owner as Mr Chow Kam Wah.
Company announcement, 4-Nov-2016
This was done in 2 blocks. 45% was sold in Mar-2016 to Apex Corporate Investments Ltd for HK$200m, and 55% now to Best Mate Ltd, owned by Kenneth Chan Chak Kai, for HK$200m. Mason fails to say who owns Apex. We can tell you that it was once owned by CIFG (0412) which sold it to High Rhine Ltd (BVI) on 20-Nov-2014. According to Mason's 2015 accounts, it acquired High Rhine in Jun-2015. Update: a Mason rights issue circular on 13-Dec-2016 reveals the owner as Mr Chow Kam Wah.
Mason Financial (0273) to sell 52.69% of Co-Lead Holdings Ltd to Capital Union Inc.
| Circular
Company announcement, 30-Mar-2016
Mason doesn't say who owns the Purchaser, which it claims is an independent third party. The last time we heard (30-Jan-2009) it was controlled by Eugene Chuang Yue Chien, who is the brother of Henry Chuang Yueheng, who was Chairman of Mason until 1-Aug-2015. Under the Listing Rules, he remains a connected person for 1 year after that, and so does his brother, being his "associate". If the ownership of Capital Union has not changed, then this should be a connected transaction. Update: the circular on 23-Jun-2016 discloses 5 owners with 20% each (including a cousin) and denies any involvement of the brothers. It also reveals that Enerchina (0622) holds 5.44% of Co-Lead. Ristora Investments Ltd (owned by Karen Lo, wife of Eugene Chuang) has acquired West West Ltd (which CSPT (0139) sold to an unnamed party in Sep-2015), holding 5.32% of Co-Lead, and 210 shares (3.69%) once held by National Investments Fund (1227).
Company announcement, 30-Mar-2016
Mason doesn't say who owns the Purchaser, which it claims is an independent third party. The last time we heard (30-Jan-2009) it was controlled by Eugene Chuang Yue Chien, who is the brother of Henry Chuang Yueheng, who was Chairman of Mason until 1-Aug-2015. Under the Listing Rules, he remains a connected person for 1 year after that, and so does his brother, being his "associate". If the ownership of Capital Union has not changed, then this should be a connected transaction. Update: the circular on 23-Jun-2016 discloses 5 owners with 20% each (including a cousin) and denies any involvement of the brothers. It also reveals that Enerchina (0622) holds 5.44% of Co-Lead. Ristora Investments Ltd (owned by Karen Lo, wife of Eugene Chuang) has acquired West West Ltd (which CSPT (0139) sold to an unnamed party in Sep-2015), holding 5.32% of Co-Lead, and 210 shares (3.69%) once held by National Investments Fund (1227).
Heritage (0412) sells loss-making TCM clinic
Company announcement, 5-Nov-2014
The purchaser is High Rhine Ltd, the owner of which is not disclosed. On 12-Dec-2013, High Rhine Ltd was sold by Tack Fiori (0928) to Equal Sky Ltd (BVI), which at least until 21-Apr-2010 was owned by Willie (0273). So this may have been a sale to Willie.
Company announcement, 5-Nov-2014
The purchaser is High Rhine Ltd, the owner of which is not disclosed. On 12-Dec-2013, High Rhine Ltd was sold by Tack Fiori (0928) to Equal Sky Ltd (BVI), which at least until 21-Apr-2010 was owned by Willie (0273). So this may have been a sale to Willie.
Tack Fiori (0928) sells High Rhine Ltd (BVI) to Equal Sky Ltd (BVI)
Company announcement, 12-Dec-2013
The owner of the purchaser is not disclosed. Records show that at least until 21-Apr-2010, it was owned by Willie (0273), another company in the "Chung Nam Network".
Company announcement, 12-Dec-2013
The owner of the purchaser is not disclosed. Records show that at least until 21-Apr-2010, it was owned by Willie (0273), another company in the "Chung Nam Network".
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