We now connect Joseph Lau to Executive Talent, and focus on a series of dubious transactions by Hycomm and the bubble in its stock while it did the coal mine hokey cokey, from which bubble Joseph Lau has profited hugely. We also look at the creation of Inno-Tech and the youngest infant mortality on GEM, Codebank.
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Simsen (0993) sells Cheung's Gold Traders Ltd, for HK$5m, Head & Shoulders Securities Ltd for HK$31m
Company announcement, 02-Dec-2009
The buyer of Head & Shoulders Securities is 70% owned by Haywood Cheung and 30% jointly-owned by Maggie Cheung Fung Kuen & Stanley Choi Chiu Fai.
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Hycomm Wireless (0499) buys house from Maggie Cheung Fung Kuen & Stanley Choi Chiu Fai
Company announcement, 22-Jul-2008
By buying a BVI company which owns House 26, Las Pinadas, no stamp duty is payable. The house is valued at HK$64m. Net of mortgage, the purchase price is $37m, financed by an open offer at a 35.5% discount. The couple lives in the house and will lease it back.
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Simsen (0993) buys 60% of Head & Shoulders Securities for HK$90m
Company announcement, 19-Dec-2007
Satisfied in shares @$0.355. Of the 60%, 52% is sold by Maggie Cheung Fung Kuen (whose investment cost was $17m) and 8% by Mr Lam Tung Woo, a Responsible Officer of the brokerage.
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Simsen (0993) buys 40% of Head & Shoulders Securities from Maggie Cheung Fung Kuen for HK$16m