Master Glory Group Limited 凱華集團有限公司
Allan Yap declared bankrupt
HK Court of First Instance, 7-Aug-2020
Of the 3 petitioning creditors, Bloom Right Ltd and Unique Rosy Ltd are owned by Huarong Investment Stock (2277) and Plenty Choice Investments Ltd is owned by China Huarong Asset Management (2799), the parent of 2277. Of the 2 supporting creditors, CW Financing Ltd is or was owned by Cordoba Homes Finance Ltd and Citizens Money Lending Corp Ltd is owned by Enerchina (0622), both being members of what we call the "Chung Nam Network".
HK Court of First Instance, 7-Aug-2020
Of the 3 petitioning creditors, Bloom Right Ltd and Unique Rosy Ltd are owned by Huarong Investment Stock (2277) and Plenty Choice Investments Ltd is owned by China Huarong Asset Management (2799), the parent of 2277. Of the 2 supporting creditors, CW Financing Ltd is or was owned by Cordoba Homes Finance Ltd and Citizens Money Lending Corp Ltd is owned by Enerchina (0622), both being members of what we call the "Chung Nam Network".
Master Glory (0275): winding up order
HK Court of First Instance, 1-Jun-2020
The 3 petitioners are all members of the China Huarong group. Of the supporting creditors, Advance Tech Ltd is owned by ITC Properties (0199) and Citizens Money Lending Corp Ltd is owned by Enerchina (0622). Justice Jonathan Harris writes that on the morning of the hearing, the company produced a "vague and unsophisticated" affirmation claiming that the "principal shareholder" (Allan Yap) is attempting to sell assets in the Mainland to settle debts. The judge calls the situation "ridiculous" and orders a winding-up.
HK Court of First Instance, 1-Jun-2020
The 3 petitioners are all members of the China Huarong group. Of the supporting creditors, Advance Tech Ltd is owned by ITC Properties (0199) and Citizens Money Lending Corp Ltd is owned by Enerchina (0622). Justice Jonathan Harris writes that on the morning of the hearing, the company produced a "vague and unsophisticated" affirmation claiming that the "principal shareholder" (Allan Yap) is attempting to sell assets in the Mainland to settle debts. The judge calls the situation "ridiculous" and orders a winding-up.
Prosperity (0310) coughs up investment details at 30-Jun-2017
Company announcement, 1-Feb-2018
This follows a Webb-site complaint filed on 5-Jan-2018 that the company had failed to comply with Listing Rule disclosure requirements in its interim report and that the Exchange had failed to notice. There are several notable holdings exposed.
Company announcement, 1-Feb-2018
This follows a Webb-site complaint filed on 5-Jan-2018 that the company had failed to comply with Listing Rule disclosure requirements in its interim report and that the Exchange had failed to notice. There are several notable holdings exposed.
Huarong Inv Stock (2277) lends additional HK$300m to Master Glory (0275)
Company announcement, 23-Nov-2017
The 3-year 9.5% loan notes are personally guaranteed by an unnamed substantial shareholder of Master Glory, who must be Allan Yap. The notes are in addition to a subscription of $100m 3-year 9.5% notes a year earlier.
Company announcement, 23-Nov-2017
The 3-year 9.5% loan notes are personally guaranteed by an unnamed substantial shareholder of Master Glory, who must be Allan Yap. The notes are in addition to a subscription of $100m 3-year 9.5% notes a year earlier.
Huarong Inv Stock (2277) subscribes HK$100m loan notes of Master Glory (0275)
Company announcement, 24-Nov-2016
Company announcement, 24-Nov-2016
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)
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)
With links to the signatories in Webb-site Who's Who. (29-Dec-2008)
Hanny independent shareholders veto 4:1 rights issue
Company announcement, 3-Nov-2008
The shares have been trading ex-entitlements since 27-Oct-2008.
Company announcement, 3-Nov-2008
The shares have been trading ex-entitlements since 27-Oct-2008.
Mei Ah Entertainment (0391), Hanny Holdings (0275) and Hoffman Ma Ho Man takeover Big Media (8167)
Company circular, 8-Jan-2007
Company circular, 8-Jan-2007
ITC Corp (0372) agreement to buy shares in Hanny (0275) from Hoffman Ma Ho Man, 17-Aug-2006
Company filing, 13-Nov-2006
Company filing, 13-Nov-2006
China Strategic (0235): HK$190m acquisition from Mr Chan Chung Chiu, 30-Sep-2003
Company filing, 26-May-2006
This HK$190m acquisition was unannounced, but showed up in documents on display on 26-May-2006. The purchaser was 100% owned by China Strategic. Completion occurred in Oct-2003. The target was later renamed Zhuhai Zhongce Property Investment Ltd and distributed as a subsidiary of Group Dragon Investments Ltd which was acquired by Hanny Holdings Ltd (0275) which sold it in the year to 31-Mar-2008 to an unnamed party at a loss of $99.29m.
Company filing, 26-May-2006
This HK$190m acquisition was unannounced, but showed up in documents on display on 26-May-2006. The purchaser was 100% owned by China Strategic. Completion occurred in Oct-2003. The target was later renamed Zhuhai Zhongce Property Investment Ltd and distributed as a subsidiary of Group Dragon Investments Ltd which was acquired by Hanny Holdings Ltd (0275) which sold it in the year to 31-Mar-2008 to an unnamed party at a loss of $99.29m.
EVI for Beginners
The latest stock on the rampage in the GEM children's playground is kindergarten web firm EVI Education Asia, up 192% on its debut, following close on the heels of stable-mate L.P. Lammas. We'll give you a bit of online education ourselves and tell you why you shouldn't play with these fireworks. (15-Mar-2001)
The latest stock on the rampage in the GEM children's playground is kindergarten web firm EVI Education Asia, up 192% on its debut, following close on the heels of stable-mate L.P. Lammas. We'll give you a bit of online education ourselves and tell you why you shouldn't play with these fireworks. (15-Mar-2001)
HK's Takeunder Code
Three recent "takeunders" of Beauforte Investors, China Internet Global Alliance and Tung Fong Hung have reminded investors how ineffective Hong Kong's takeover code is. In each case, a buyer has been willing to pay a substantial premium for a stake which, while under 35%, is clearly enough to achieve control without making a general offer. Webb-site.com urges the SFC to reduce the threshold for these "takeunder" transactions. (18-Dec-2000)
Three recent "takeunders" of Beauforte Investors, China Internet Global Alliance and Tung Fong Hung have reminded investors how ineffective Hong Kong's takeover code is. In each case, a buyer has been willing to pay a substantial premium for a stake which, while under 35%, is clearly enough to achieve control without making a general offer. Webb-site.com urges the SFC to reduce the threshold for these "takeunder" transactions. (18-Dec-2000)
China United (0273) converts HK$100m note into shares of Hennabun Management Inc at $7
Company announcement, 30-Jun-2000
The note was issued on 18-May-2000. The other existing HMI shareholders are Hanny (0275) with 37.02% and NPH (0182) with 7.12%. The conversion increases CU's stake from 55.86% to 78.12%.
Company announcement, 30-Jun-2000
The note was issued on 18-May-2000. The other existing HMI shareholders are Hanny (0275) with 37.02% and NPH (0182) with 7.12%. The conversion increases CU's stake from 55.86% to 78.12%.
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