Yap, Allan 葉家海
Sanction of Mr Tse Ke Li, ex-ED of Global Mastermind (8063)
SEHK, 30-Aug-2023
For undisclosed "acquisitions" which were never identified and cash withdrawal from a subsidiary, leading to a loss of HK$58.7m.
SEHK, 30-Aug-2023
For undisclosed "acquisitions" which were never identified and cash withdrawal from a subsidiary, leading to a loss of HK$58.7m.
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.
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.
Skynet Loss
Skynet (International Group) Holdings (SIGH), once unknown for its marbles, has been an internet play since 1999. Webb-site.com shows you how MAE Holdings ended up paying $35.75m for 0.006% of Skynet Ltd, a subsidiary of SIGH, after being diluted beyond its wildest dreams in circumstances only now revealed. We also spotlight the not-unrelated HKSky-e and show how it parlayed dotcoms with Asia Tele-Net and MAE, ultimately making its owner the largest shareholder and Chairman of MAE. (5-Feb-2001)
Skynet (International Group) Holdings (SIGH), once unknown for its marbles, has been an internet play since 1999. Webb-site.com shows you how MAE Holdings ended up paying $35.75m for 0.006% of Skynet Ltd, a subsidiary of SIGH, after being diluted beyond its wildest dreams in circumstances only now revealed. We also spotlight the not-unrelated HKSky-e and show how it parlayed dotcoms with Asia Tele-Net and MAE, ultimately making its owner the largest shareholder and Chairman of MAE. (5-Feb-2001)
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