Ninotre Investment Ltd & Xiao Qingmin v L & A (8195)
HK Court of First Instance, 14-Nov-2018
The plaintiffs win an order for discovery in relation to L&A's purchase of 47.63% of Red 5 Studios Inc. on 28-Apr-2016, The first plaintiff is a 100% subsidiary of Unity (0913). The 2nd was an ED of Suncorp (1063) until 23-Nov-2015. Unity and Suncorp both featured in our "Enigma Network" of 2017. L&A was a bubble we warned about in Sep-2015. During 2015, Unity bought 2.81% of L&A in the market for HK$117.509m, a split-adjusted $4.18/share. The stock crashed on 6-Jul-2016 and is now at $0.035.
The Enigma Network: 50 stocks not to own
Sometimes, all you need to tell a story is a picture. (15-May-2017)
Bubbles and troubles in Hong Kong
Pour yourself a coffee and digest this long article as we investigate several ongoing abusive "open offers" and placings as well as show you who's been making out in multi-billion-dollar bubbles. We call on regulators and rule-makers to take action. (24-Sep-2015)
Hao Wen, Capital VC and Unity
Webb-site finds questionable cash investments at extremely high valuations which link together 3 listed companies. We urge the SFC's corporate misconduct team to investigate. (24-Sep-2015)
The bubbles in CNN
We warn investors of 3 bubbles amounting to HK$20.0bn (US$2.58bn) in the "Chung Nam Network" of listed companies, Heritage (0412), Rising Dev (1004) and Mascotte (0136) and look at a blatantly bad decision by the board of Hao Tian (0474), and an undisclosed Very Substantial Acquisition by that company. One of the bubbles is even a Russian doll "double bubble" - one owns the other. (8-Jan-2015)
Subscription agreement between Hao Tian (0474) and HEC Capital Ltd dated 18-Sep-2012
Company filing, 2-Jul-2014
This is a recent filing under the Takeovers Code. Schedule 1 reveals the shareholdings in HEC Capital Ltd on the subscription date, including 10 other listed companies which we consider to be in the "Chung Nam Network".
Capital VC Ltd (2324) proposes to issue 29.72% of enlarged capital to Willie (0273)Willie announcement
Company announcement, 9-Jun-2011
The subscription is at a 59% discount to NAV at 30-Apr-2011. Capital VC will thereby enter what we call the "Chung Nam Network" which includes several listed companies and 2 other Chapter 21 investment companies: Unity (0913) and Radford (0901), the share graphs of which speak for themselves.
Unity (0913) issues shares to Au Yeung Kai Chor, ED of Dragonite (0329)
Company announcement, 30-Mar-2011
Unity and Dragonite are both members of what we call the "Chung Nam Network". The shares are issued at a 68.8% discount to the net asset value per share of $0.96 at 28-Feb-2011.
Radford (0901), Unity (0913) subscribe CBs in Freeman (0279)
Company announcement, 12-Oct-2010
Dealing disclosures show that they each subscribed for HK$30m of the "Firm Bonds", which carry the right to subscribe the same amount again upon conversion. The announcement reveals that Freeman currently owns 4.34% of Radford. Andrew Liu subscribed $155m of the Firm Bonds and acquired another $15m of them from Henry Chuang on 11-Oct-2010. The other subscribers were Benny Kwong Kai Sing (Chairman of Heritage), Peter Lam How Mun (MD of CC Land), Andrew Lam Ping Cheung, and Koji Shimazaki (ED of Radford) ($10m each) and Angela Ching Yuen Man (ED of Dragonite) ($5m).
Listing Review Committee overturns SEHK Ruling rejecting listing application for placing by Unity (0913)
Company announcement, 11-Feb-2010
SEHK rejects listing application for placing by Unity (0913)
Company announcement, 21-Dec-2009
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)
Willie subscribes 13.85% of Unity Investments for $45.1m
Company announcement, 30-Oct-2007
List of loans by Willie in material contracts
Company circular, 23-May-2006
Borrowers include Chow Kam Wah, Osman bin Kitchell, Koji Shimazaki and Unity (0913).
SFC prosecutes Bava Ashraf Akathoottu for disclosure failure
SFC, 22-Dec-2005
Breach of Listing Rules
Company announcement, 13-Sep-2005
Alfred Leung Cheuk Wah v Company
HK Court of First Instance, 9-Sep-2005
Heritage (0412) to invest in Found MacauCircular
Company announcement, 25-Jan-2005
China United (0273) to triple investment in Found MacauCircular
Company announcement, 12-Jan-2005
Breach of Listing Rule 14.25
Company announcement, 4-Mar-2004

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