Planetree International Development Limited 梧桐國際發展有限公司

Blue River (0498) grants HK$150m loan facility to Green River Associates Ltd
Company announcement, 7-Dec-2022
Can a Cyan River be far away? The announcement reveals that CST (0985) now owns 17.35% of Green River. It was formerly 100% owned by Planetree (0613) which in 2020 sold 60% (now 49.59%) to Alice Yu Man Fung. At the time, Planetree stated that Ms Yu and Karen Lo Ki Yan, controlling shareholder of Planetree, "have known each other for many years".
Planetree (0613) coughs up ownership structure of borrower on 3rd attempt
Company announcement, 12-Oct-2022
5 listed companies currently in what we call the "Chung Nam Network" have indirect stakes in Freeman Opto Money Lending Corp Ltd, via a cross-holding pair of Marshall Islands vehicles. They include Carnival (0996), suspended since Mar-2020, which never previously identified its 2017 investment in FreeOpt Holdings Ltd, China Smarter Energy (1004), suspended since Apr-2021, and National Investments Fund (1227), delisted last month.
Planetree (0613) subsidiary lends HK$50m to money-lender
Company announcement, 26-Sep-2022
At last disclosure, the lender, Maxlord Enterprises Ltd, is 66.67% owned by Planetree and 33.33% by Blue River (0498). Planetree fails to disclose the owner(s) of the borrower, Freeman Opto Money Lending Corp. The 12-month loan bears interest at 6% p.a..
Planetree (0613): CST (0985) to inject HK$50m for 8.482% of Planetree Securities Ltd
Company announcement, 6-Jun-2022
Prior to this, the brokerage is a 100% subsidiary of Planetree.
Planetree (0613) part-subsidiary Maxlord Enterprises Ltd lends HK$75m at 4% p.a. to Oshidori (0622) money-lending subsidiary
Company announcement, 31-May-2022
Maxlord is owned 2/3 by Planetree and 1/3 by Blue River (0498). This facility follows an earlier 12-month HK$100m facility on 6-Jan-2022 at the HSBC prime rate. Planetree is 66.87% owned by Future Capital Group Ltd, which was 100% owned by Karen Lo Ki Yan until 17-Feb-2022, when Oshidori agreed to invest HK$750m for a 17.81% stake.
Planetree (0613) lends HK$85m to Osman Bin Kitchell and $90m to Kenneth Chan Chak Kai
Company announcement, 1-Mar-2022
The lender, Maxlord Enterprises, is 33.33% owned by Blue River (0498) and 66.67% by Planetree, which is 67.22% owned by Karen Lo Ki Yan. On 30-Dec-2021, Mr Kitchell bought 28.53% of Blue River from Oshidori (0622) for HK$160m. He is Chairman of Imagi (0585), which is 21.31% owned by Oshidori. On 17-Feb-2022, Oshidori invested HK$750m in 17.81% of Future Capital Group Ltd, which until then was 100% owned by Ms Lo. Blue River owns 48.23% of Paul Y. Engineering Group Ltd, of which Mr Chan owns 51.76%, including 10% held via Elemet Ltd, as at 4-Nov-2021. Blue River in Dec-2021 terminated a proposed purchase of his total stake in PYE after the Stock Exchange classified it as a Reverse Takeover.
Planetree (0613) part-subsidiary lends HK$100m to Oshidori WW Resources Ltd
Company announcement, 6-Jan-2022
The money-lender, Maxlord Enterprises Ltd, is 2/3 owned by Planetree and 1/3 by Blue River (0498). The borrower is also a money-lender and a 100% subsidiary of Oshidori (0622).
Touyun Biotech (1332) subsidiary sells 90.1% of Genius Spring Ltd to Planetree (0613) for HK$40mPlanetree announcement
Company announcement, 29-Oct-2021
The vendor is 61.01% owned by Touyun Biotech, 27.29% owned by Blue River (0498) and 11.71% by David Ki. The owner of the other 9.9% of Genius Spring is not disclosed, but our records show it was 9.9% owned by Imagination Holding Ltd as at 5-Dec-2016. This is another transaction in what we call the "Chung Nam Network".
Planetree (0613) recruits Ms Yau Wai, seeks IPO sponsorship licence for subsidiary Akron Corporate FinanceVBG IPO sponsor track record
Company announcement, 16-Mar-2021
She was a Responsible Officer at VBG Capital Ltd from 15-Jun-2016 until yesterday.
PYI (0498) subscribes HK$100m for 1/3 of money-lender owned by Planetree (0613)Planetree announcement
Company announcement, 9-Mar-2021
This leaves Planetree with 2/3 of the money-lender, Maxlord Enterprises Ltd. PYI has an option to increase it to 50:50 for another HK$100m by the end of 2021.
Planetree (0613) sells 60% interest in investment portfolio to Alice Yu Man Fung for HK$240m
Company announcement, 11-Dec-2020
The portfolio held by Green River Associates Ltd (Marshall Islands) comprises 5 unnamed HK-listed stocks. The buyer and Karen Lo Ki Yan, controlling shareholder of Planetree, "have known each other for many years". Planetree will continue to manage the portfolio. Reducing GRA to a 40% associate means that its future disposals and acquisitions of stocks will be outside the scope of the Listing Rules for Planetree.
Planetree (0613) subsidiary Planetree (Cayman) Capital Ltd (formerly Liberty Capital Ltd) buys out remaining minoritiesCTT announcement
Company announcement, 4-Aug-2020
9.8% comes from Oshidori (0622) and 8.0% from China Touyun Tech (1332), at a total price of HK$93.6m ($117,000 per share).
Planetree (0613): late disclosure of buybacks by a subsidiaryDisclosure of interest
Company announcement, 12-Mar-2020
"After receiving guidance from The Stock Exchange", Planetree discloses that Liberty Capital Ltd repurchased 330 shares from Great Panorama International Ltd on 13-Dec-2019 (the day after Planetree completed its initial 2000-share subscription), and 335 shares each from Roxxon Ltd and CST (0985) a week later, a total of 1000 shares. It says GPI was owned by Osman Bin Kitchell and Roxxon was owned by David Ki. The total buyback cost was HK$127.2m, almost half of what Planetree initially injected. We note that in the Planetree circular dated 31-Oct-2019, GPI had 3 unnamed shareholders. 1 of them was Mr Kitchell with 59.30%. According to disclosures of interest in Inno-Tech (8202), on 27-Sep-2019 GPI was transferred by Mr Kitchell to High Rhine Ltd, where it remained at least until 28-Apr-2020, after the share repurchase.
Planetree (0613): supplemental disclosure on the other holders of Liberty Capital Ltd
Company announcement, 14-Feb-2020
Referring to its earlier announcement of a capital injection into Liberty Capital Ltd, Planetree now confirms the identity of the other holders. "Investor A" is Oshidori (0622) and "Investor B" is China Touyun Tech (1332). We note that Oshidori first mentioned the subscription of 440 shares in its interim results on 28-Aug-2019, and CTT first mentioned the subscription of 360 shares in its interim results on 23-Aug-2019. There is still no explanation of how the issued shares were reduced from 3800 to 2800 before the capital injection.
CEGFL (0379) swaps property vehicle for 35% of Top Insight, a subsidiary of Planetree (0613)Planetree announcement
Company announcement, 23-Jan-2020
Prior to this, Top Insight is 100% owned by Planetree (BVI) Capital Ltd, which is indirectly 100% owned by Planetree (Cayman) Capital Ltd, which is 82.22% owned by Planetree (0613), 9.78% owned by Oshidori (0622) and 8.00% owned by China Touyun Tech (1332). The deal basically combines 2 properties under one holding joint venture.
Planetree (0613) injects HK$227.7m into subsidiary Liberty Capital LtdCircular
Company announcement, 22-Jan-2020
This increases its stake from 2000/2800 (71.43%) to 3700/4500 (82.22%). The remaining holders will be "Investor A" with 9.78% and "Investor B" with 8.00%. After Planetree's original investment in Liberty, there were 3800 shares and it held 52.63%, so this also begs the question: when were 1000 shares cancelled?
Yugang (0613) subscribes HK$270m for 52.63% of Liberty Capital Ltd (Cayman)
Company announcement, 20-May-2019
This Major Transaction comes 3 weeks after Karen Lo Ki Yan completed a takeover of Yugang. Earlier, on 19-Dec-2018, Yugang provided a HK$50m line of credit to the target. The target owns Hui Kai Securities Ltd and Hui Kai Futures Ltd, which were wholly-owned by Tai United (0718) until it sold two 33.5% chunks of their holding company on 18-Jan-2018 and the remaining 33% on 1-Jun-2018 to then-unnamed buyers.
Yugang (0613) buys property vehicles from Cordoba Homes Ltd for HK$280.7m
Company announcement, 14-Mar-2017
They own 1st and 11th floors of China United Centre, North Point.
Takeovers Panel rules on general offer obligation for Cross-Harbour (0032)
SFC, 21-Dec-2015
Waddington Ltd v Thomas Chan Chun Hoo & others
HK Court of First Instance, 13-Mar-2014
Waddington Ltd v Thomas Chan Chun Hoo & others
HK Court of First Instance, 18-Dec-2013
Waddington Ltd v Thomas Chan Chun Hoo & others
HK Court of Appeal, 19-Jul-2013
Waddington Ltd v Thomas Chan Chun Hoo & others
HK Court of First Instance, 7-Jun-2013
Waddington Ltd v Thomas Chan Chun Hoo & others
HK Court of First Instance, 7-May-2013
China Strategic bubble
We warn investors of a bubble in the stock of China Strategic, the 80% owner of the proposed buyer of Taiwan's Nan Shan Life Insurance, partly financed by a massive note issue convertible into 78bn shares at $0.10 each. We publish the placing list and analyse the names in the deal. Finally, we warn investors to avoid 7 companies in the "Chung Nam network", which has lost HK$6.2bn in 5 years. (13-Nov-2009)
The paid advert opposing the blackout rule
With links to the signatories in Webb-site Who's Who. (29-Dec-2008)
Asia Standard issues convertible notes in placing
Company announcement, 4-May-2006
Note: at least some of the HK$94m external placing probably ended up with Yugang (0613) which, in its 2006 accounts note 23, held a convertible note at fair value of $47.416m with the same exercise price ($0.305) and interest rate (4%) issued by "a listed company in Hong Kong".
Radford (0901) ownership investigation results
Company announcement, 27-Apr-2004
China United (0273) buys 37.5m shares (9.64%) of Hennabun Management Inc from Golden Resources (0677) for HK$72m in shares
Company announcement, 11-Mar-2004
Just prior to this deal, HMI is a hub owned by 10 listed companies, including 2 not seen in prior filings: Yugang (0613) has 20.56%, and China Investment Fund Co Ltd (0612) has acquired 2.5m shares (0.64%), probably from Golden Resources.
Radford (0901) portfolio disclosure and ownership investigation
Company announcement, 29-Oct-2003
The SFC writes: "we note a very close relationship between the shareholders of the Company and its investments". At the suspended price of $1.34, the closed-end investment company was trading at 9.24x its NAV of 30-Sep-2003.
SFC reprimands Mr Kam Hing Lun
SFC, 27-Sep-2001

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