Thursday 11th June 2009
Dear Reader,
This piece took a lot of research - but we think it's worth it.
China Railway Games
In part 2 of a series, we look at how HK$16bn of market cap evaporated when
bubbles around China Railway Logistics, PME and Forefront burst. Each dealt with
the same purported arm of the Ministry of Railways for joint ventures in wagon-leasing,
media and online ticketing, each of which failed to get started. A
miriad of BVI shells with shadowy owners are involved, but at least one has
exposed himself in a court case.
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