Tuesday 25th May 2010
Three new inter-related articles.
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.
Global Green Tech
In part 2 of today's look at Global Green Tech (0274), we'll show you how it bought a gold mine for 5.83 times what an AIM-traded company sold it for 3 months earlier, and that one of the middlemen also controls miner Lumena Resources (0067), so we take a look at that too.
Code Agriculture and
Take a RMB8m investment in a start-up TV channel, whip up some projections, sprinkle on a valuation from the ubiquitous BMI Appraisals, add a large pinch of salt according to taste, bake for 2 months and you have a RMB350m sale to Code Agriculture (8153). Too bad that the air then went out of this pudding.
Lincoln University, CCIBA and AKMA
Time to lift the lid on another diploma mill, the people behind it, and the distinguished citizens upon whom it has conferred its prestigious awards. (24-May-10)
SBI, E2 and Xinhua Finance
We reveal how a mini-investment bank was assembled and injected into two listed companies at great expense to them, then gradually sold off, and how at least some of the SFC-regulated firms came under the ownership of someone who now faces criminal charges in the USA in relation to newsletter stock promotion schemes for companies which include the first Chinese company to list in Japan. (18-May-2010)
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