VOLUME XXI  No. 17 T U E S D A Y January 22, 2019

 

 

 

 

 

EMPEROR CAPITAL GROUP LTD:

THE EMPEROR GROUP OF COMPANIES IS ONE OF

THE SOURCES OF FUNDING OF THE SMI GROUP OF COMPANIES

 

 

Further to this mediumís exclusive report of last Tuesday (Please refer to TARGET Intelligence Report, Volume XXI, Number 11), it has been discovered that the SMI Investment (Hongkong) Ltd (星美投資[香港]有限公司), a wholly owned subsidiary of SMI Holdings Group Ltd (星美控股集團有限公司) (Code: 198, Main Board, The Stock Exchange of Hongkong Ltd), had been a borrower of substantial sums of money from Emperor Capital Group Ltd (英皇證券集團有限公司) (Code: 717, Main Board, The Stock Exchange of Hongkong Ltd).

 

In addition, according to the litigation database of TOLFIN (泰達資訊), the Computerised, Online Financial Intelligence Service and Web-Based, Credit-Checking Provider, a Mr Zhen Xiao Ming (甄小明) sued SMI Holdings Group Ltd on December 7, 2018, for $HK5,212,328.77 in respect of an alleged debt.

 

Then, on or about August 3, 2018, The Hongkong and Shanghai Banking Corporation Ltd (香港上海滙豐銀行有限公司), a wholly owned subsidiary of HSBC Holdings PLC (匯豐控股有限公司) (Code: 5, Main Board, The Stock Exchange of Hongkong Ltd), sued SMI Holdings Group Ltd for $HK12,601,013.04.

 

When TARGET (泰達財經) first started its investigations into the financial affairs of SMI Holdings Group Ltd, it was somewhat of a conundrum to this medium as to the source of the funding of the SMI Group of Companies since the parent company was seeking to recover the aggregate sum of $HK343 million from two publicly listed companies.

 

The two publicly listed companies were/are:

 

1.

Master Glory Group Management Ltd (凱華集團管理有限公司), a wholly owned subsidiary of Master Glory Group Ltd (凱華集團有限公司) (Code: 275, Main Board, The Stock Exchange of Hongkong Ltd); and,

 

 

2.

Larry Jewelry International Company Ltd (俊文寶石國際有限公司) (Code: 8351, The Growth Enterprise Market [the GEM], The Stock Exchange of Hongkong Ltd).

 

From Master Glory Group Management Ltd, SMI Holdings Group Ltd sought (or is still seeking) about $HK250,367,123.29 in respect of an alleged loan and, from Larry Jewelry International Company Ltd, SMI Holdings Group Ltd was/is seeking the sum of about $HK91,590,410.96 in respect of a Convertible Bond, the Principal Amount of which was $HK90 million.

 

The business of SMI Holdings Group Ltd is, principally, engaged in the operations of theatres in the HKSAR and, in addition, it is said to be engaged in investments in the production and distributions of films.

 

Aside from the above-mentioned operations, the company was said to be engaged in trading in marketable securities in the HKSAR.

 

Thus, originally, this medium had trouble in understanding as to the source of the funding of the SMI Group of Companies to the extent that it had to sue two publicly listed companies to recover more the $HK343 million from them.

 

Emperor Securities Ltd versus:

 

 

 

SMI Investment (Hongkong) Ltd

 

First Defendant;

 

 

 

and

 

 

 

SMI Holdings Group Ltd

 

Second Defendant.

 

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