Cheng, Yu Tung 鄭裕彤

Cheng Yu Tung acquires 14.58% of Giordano (0709)
Disclosure of interest, 9-May-2011
According to the disclosure form, the shares were acquired off-market on 9-May-2011 at an average of $4.81, a 15.8% discount to the closing price that day. No substantial shareholders have disclosed a sale, so that implies that there were at least 3 mutually independent vendors, each holding less than 5%. In our view, this is the most unusual transaction in this stock since Jimmy Lai sold his remaining 27% stake in Giordano overnight on 27-Feb-1996, when no single buyer owned more than 10%.
Ping An: not the whole picture
We look behind last night's shock placing by Ping An Insurance to tycoon Cheng Yu Tung, and call for a full explanation from the issuer. (15-Mar-2011)
Cosmetic appearances
When the ICAC charged a person with engineering fraudulent acquisitions by Uni-Bio Science (0690) last month, we suspect they only saw half the story. Webb-site looks at the overlaps between UBS and Global Green Tech (0274), and at a series of its acquisitions. (25-May-2010)
New Jersey Casino Control Commission report on MGM, Pansy Ho and Stanley Ho
New Jersey Casino Control Commission, 17-Mar-2010
Issued on 18-May-2009 and published in the USA in redacted form on 17-Mar-2010
Tycoons in mercy plea for internet predator
HK Standard, 10-Mar-2010
We note that the offender's firm, H.C. Watt & Co, is auditor of only 5 listed companies including New World Development and Melbourne Enterprises (both controlled by Cheng Yu Tung) and SJM Holdings and Shun Tak Holdings (both controlled by the family of Stanley Ho). The family of the late Henry Fok is or was an investor in STDM, the controlling shareholder of SJM. Letters of mitigation support for the offender were received from Cheng Yu Tung, Pansy Ho, Daisy Ho, Timothy Fok and Henry Fok.
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)
Byford bubble
Investors should beware of a bubble in Byford (8272), which boasts two celebrity shareholders - New World Development's Cheng Yu Tung and Angela Leong, a wife of casino tycoon Stanley Ho. Both apparently paid 186x net asset value for the shares. (1-Jun-2009)
Who is the Bauhinia Foundation?
We look into the Bauhinia Foundation, a tycoon-funded lobby group with an increasingly cosy relationship with Government, and the people behind it. BF refuses to disclose who funds it, or publish its accounts, claiming to be both private and a tax-exempt "trust of public character" at the same time. Who is making policy for HK - the Government, or a secretly-funded lobby group? (13-Jun-2008)
Company and certain directors v SEHK
HK Court of Final Appeal, 6-Apr-2006
Company and certain directors v SEHK
HK Court of Appeal, 27-May-2005
Company and certain directors v SEHK
HK Court of First Instance, 3-May-2004

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