Carnival Group International Holdings Limited 嘉年華國際控股有限公司

Carnival (0996): winding-up order
HK Court of First Instance, 29-Aug-2022
Webb-site warned investors about this company in 2016, calling it a bubble stock, with a market cap of HK$15.08bn. The judge notes that amongst the outstanding debts of CNY 7.6bn are offshore bonds issued to "immigration bondholders" to fulfil the requirements for immigration to HK under the Capital Investment Entrant Scheme, which was suspended on 15-Jan-2015.
Hiding behind the cornerstones
Webb-site reveals that investors who took 31% of a bank IPO had secretly laid off their risk by issuing derivatives to a mainland property developer from the same city, via two HK-listed companies which incidentally are bubble stocks. When we complained, HKEX did not require disclosure of the bank’s identity, thereby preserving the secrecy behind the cornerstone investors which facilitate HKEX’s IPO business. Once again, the regulatory conflict of interest is exposed. (3-Oct-2016)
China Inno Fin (0412) belatedly details investments at 31-Mar-2016
Company announcement, 13-Jul-2016
This follows a complaint by Webb-site to SEHK. The firm held 9.95% of China Smarter Energy (1004), 4.49% of Huarong (0993) and 1.34% of Carnival (0996), as well as having sunk HK$340.8m into Joint Global Ltd, the newest unlisted hub in what we call the "Chung Nam Network". It provides no details of this significant investment, which in our view should have been announced when made.
Tai Shing (8103) reveals investment stakes and losses
Company announcement, 6-Jul-2016
At 31-Mar-2016, it held 0.3% of Eforce (0943) and 2.4% of Union Asia Enterprise (8173). During the year to 31-Mar-2016, it lost money on GT (0263) and Carnival (0996). All are in what we call the "Chung Nam Network".
Pricerite (0996): subscription agreement with Pun So, 23-Mar-2005
Company filing, 26-Oct-2006
Pricerite (0996): subscription agreement with Carol Tin Yuen Sin, 23-Mar-2005
Company filing, 26-Oct-2006
William Chan Kwong Yin & Chan Koung Nam each subscribe 60m shares (6.17%) of Pricerite (0996)Circular
Company announcement, 8-Apr-2005
SFC prosecutes five companies for disclosure of interest failure
SFC, 7-Oct-2004
SFC prosecutes Joyplace Inc. & Mr Sidney Lin Chih Cheih for unauthorised investment advertisements
SFC, 9-Jul-2002

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