Webb increases Ming Fai (3828) stake over 10% | Open letter
Disclosure of interest, 2-Nov-2016
We look forward to the EGM tomorrow to approve the property disposal, and to the board's subsequent decision on the distribution of sale proceeds.

• People
  • Webb, David Michael (1965-08-29)

Open letter to the board of Ming Fai (3828) from David Webb
Webb-site founder David Webb owns almost 10% of Ming Fai and calls for a special dividend of at least $0.352 per share to reduce net cash to not more than HK$300m (34% of net assets) after the sale of the investment property, which we support. Ming Fai has a strong core business, but if the current board, which holds 33% of Ming Fai, doesn't do the right thing then we will nominate directors who will. (19-Oct-2016)

• Orgs
  • ALCO HOLDINGS LIMITED (BM)

Savills appointed sole agent for public tender sale of 5/F 181 Queen's Road Central
Company media release, 4-May-2016
We note that this investment property is owned by Ming Fai (3828). If it fetches the indicative price of HK$300m then that is worth about $0.425 per share, which we hope would be distributed given the company's existing net cash position of about $0.37 per share. Webb-site founder David Webb holds over 9% of Ming Fai.

Eric Sun Yung Tson inherits INED seat at Ming Fai (3828) from his father
Company announcement, 29-Mar-2016
Sun's son rises, presumably after an exhaustive search by the Nomination Committee.

• People
  • Sun, Cliff Kai Lit 孫啟烈
  • Sun, Eric Yung Tson 孫榮聰

Ming Fai (3828) wins appeal in Supreme People's Court
Company announcement, 15-Nov-2015
Dislcosure: Webb-site founder David Webb owns over 8% of this company.