Enterprise Development Holdings Limited (KY) 企展控股有限公司

Censure of Enterprise Development (1808) and sanction of ex-ED Ms Mao Jun Jie
SEHK, 18-Jul-2022
For embellishing her biography. "The directors of the Board at the relevant time were simply informed about the appointment of Ms Mao by the Company Secretary, and no separate Board, Nomination or Remuneration Committee meeting was convened for the purposes of discussing Ms Mao's appointment."
Enterprise Dev (1808) to buy 50% of Taiping Securities from China Taiping (0966)CCASS movements
Company announcement, 15-Nov-2017
This is interesting, because it appears from Webb-site CCASS Analysis that Rentian (0885) may have pledged its 38.71% controlling shareholding of Enterprise Dev to Taiping Securities in July this year, something that the announcement does not mention. For the sale, China Taiping would receive new shares and a convertible bond in Enterprise Dev. That raises the question of whether Rentian and China Taiping will be acting in concert to control Enterprise Dev.
Controlling shareholding of Enterprise Dev (1808) on the move
Webb-site CCASS Analysis shows that 203,854,292 shares (38.73%) of Enterprise Dev have moved from the custody of Kingston Securities Ltd to Taiping Securities (HK) Co Ltd, a subsidiary of China Taiping Insurance (0966). These shares are owned by Rentian (0885) which is controlled by Mr King Pak Fu.Such a move may indicate a pledging of the shares as security for a loan. (31-Jul-2017)
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.
Enterprise Dev (1808) buys stockbroker for HK$10.5m above NAV
Company announcement, 16-May-2017
Enterprise Development (1808) coughs up investment details at 30-Jun-2016 and 31-Dec-2015The Joint Global implosion
Company announcement, 30-Nov-2016
This follows a complaint by Webb-site to HKEX on 4-Sep-2016. The announcement hints at what happened to Joint Global Ltd, featured in our article "The Joint Global implosion". During the first half of 2016, JG disposed of its entire 26.96% shareholding in HEC Capital Ltd for an undisclosed price and had incurred a cumulative loss of HK$1978m by 30-Jun-2016, reducing its net assets from HK$2130m to just $132m, including a 5-year promissory note of $131m.
Enterprise Development (1808) admits investment in Joint Global LtdThe Joint Global implosion
Company announcement, 30-Nov-2016
This follows our article "The Joint Global implosion" in which we noted that ED had swapped its shares in HECC for shares in an unnamed company which had then been fully impaired.
Celebrate (8212) coughs up investment details at 30-Jun-2016.
Company announcement, 3-Oct-2016
This follows a Webb-site complaint on 23-Sep-2016.
The Joint Global implosion
A collapse in a hub of the "Chung Nam Network" has wiped about HK$2bn off the balance sheets of at least 11 listed companies, many of which never announced that they had invested in it. We piece together an ugly jigsaw and call on the SFC to investigate and HKEX to wake up and require announcements. (30-Sep-2016)
China Innovative Finance (0412) bubble
Hao Tian Development (0474) has confirmed our view by dumping 9.06% of CIFG at a 61.9% discount, still well above the net tangible asset value of $0.099. CIFG should trade below NTAV due to its appalling governance and membership of what we call the "Chung Nam Network". The purported profits of its leasing division are largely illusory and depend heavily on 1 customer in which CIFG has invested. HTD has also been allowed by HKEX to skirt the Listing Rules on corporate transactions. (26-Sep-2016)
Union Asia (8173) buys boat from Lam Kai Tai for HK$19m IOU, rents it out
Company announcement, 25-Aug-2016
The unnamed cruiser is 28.04 metres long. Vendor Lam Kai Tai is the Chairman of Enterprise Development (1808), another company in what we call the "Chung Nam Network".
Enterprise Development (1808) belatedly discloses what it held at 30-Jun-2015
Company announcement, 24-Nov-2015
All 3 disclosed holdings are in HK-listed companies in what we call the "Chung Nam Network", as is Enterprise Development.
Forefront (0885) buys 40% of Easy Talent Ltd from Smart Masterly Ltd for RMB65.6m
Company announcement, 24-Apr-2015
The other 60% is owned by Winsino Investments Ltd, but the announcement doesn't say who owns that. We can tell you it is owned by Enterprise Development (1808). That firm is 28.63% owned by Mr King Pak Fu, who also owns 70.71% of Forefront. The announcement also doesn't say who owns the vendor. We can tell you that the vendor acquired the stake from ED for RMB50m in late 2012, at which time Smart Masterly was owned by Shenzhen-listed United Electronics (SZ:002642).
Enterprise Development (1808) to issue shares to Smart Jump Corp
Company announcement, 21-Oct-2014
The subscriber is wholly-owned by Freeman Corp Ltd, which is majority-owned by Freeman Financial Corp Ltd (0279). All part of what we call the "Chung Nam Network".
Enterprise Development (1808) subscribes 0.79% of HEC Capital Ltd for HK$48m
Company announcement, 8-Oct-2014
Enterprise Development (1808) issues 40% of Easy Talent Ltd to United Electronics Co., Ltd. (SZ:002642) for RMB50m
Company announcement, 5-Nov-2012
Easy Talent Ltd is a new Cayman wrapper for Liang Hui Holdings Ltd, a BVI wrapper which Enterprise Development acquired in 2010 for HK$96m. The new deal implies a value on Liang Hui of RMB75m before new money.
Tai-I (1808) buys Liang Hui Holdings Ltd from Mr Lo Kai Bong for HK$96m
Company announcement, 7-Jun-2010

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