Often Partisan

Postcards from HK: Visiting Asia Rays

There has been a lot of talk of late about the future role of Peter Pannu at BIH as his consultancy and managerial contracts draw to a close at the end of this month. With that in mind, we paid a visit to the registered head office of Asia Rays Ltd yesterday to see if we could get some answers.

I had tried to email Peter Pannu prior to coming to HK to ask him for a comment on various stories that he was looking to leave but had not received a reply at all. With this in mind I thought it might be an idea to see what I could do to locate him here and to try to understand what will happen come the end of the month.

Peter Pannu Office

From company documents obtained from the companies registry here in Hong Kong, it’s easy to find out that Asia Rays Ltd operates from a first floor office in Sheung Wan, a little to the west of Central which is the core business district on Hong Kong Island. In comparison to the BIH head office which is in a nice building in Wanchai, Asia Rays is a bit more out of the way, rubbing shoulders with sharks fin and dried fish shops rather than high end business. There is no evidence on arrival that Asia Rays occupies the building; the name plaque inside the building doesn’t bear the name of Asia Rays but we took the lift to the first floor to check for ourselves.

Empty Asia Rays Office

Of the two offices on the first floor, one is occupied by an insurance brokers and the other is completely empty. We checked with the people in the insurance brokers to see if Asia Rays still had the office and they confirmed that Peter Pannu’s company was indeed based in the empty office that stood next to theirs; however there was no way of making contact with Pannu and indeed it looked like the office hadn’t been opened for a while.

I can already imagine Pannu thinking that once again we are “harassing” him but that couldn’t be further from the truth; if anything I want him to be open as it would be best for him to let us know what is happening. If his role is changing so that he will be working solely on behalf of BIH then why can he not say that to us directly – if he’s not to be paid by BCFC any further then it would be in his best interests to tell fans that he is no longer taking a wage as it would probably improve relations. I have always believed that being able to talk about facts is better for both sides in the long run because it’s that vacuum of information and absence of truth that has caused fear, uncertainty and doubt to cause issues in the minds of fans.

I think more will become apparent in the next few days; there is a feeling that the winds of change are blowing and that October will see some potential changes for BIH. With significant shareholder Luo Chao Kui dumping 52.5mil shares last week and lots being traded yesterday I wonder if shareholders have had enough of the lack of information themselves.

Tags: , , , , ,

50 Responses to “Postcards from HK: Visiting Asia Rays”

  • ExPatJohn says:

    Pity theres no Minstrel Wanderers stickers still about. You could have stuck one on his door.
    Seriously though, do you consider it rather dodgy that the registered offices are empty? Fully understand if you’re unable to comment.

  • Bluenosesol says:

    Pannu received substantial money from the club paid for by revenues which included our season ticket sales for his “consultancy” Asia Rays Is there available any evidence of the work that this company performed for the club and are there any performance reports on the effectiveness and hence value of such work? Do the club have any documentation on Asia Rays Terms and Conditions on engagement and any associated Service Level Agreements? . If Asia Rays is proven to be a non operating shell that failed to deliver any value, could the club recover historic payments, once Pannu is off the payroll?

  • Letsby Avenue says:

    :-)

    I feel duty-bound to say something supportive,to try and see another opinion in regard of Peter Pannu.

    I’ll try, :-)

    …because I don’t think, even now, that he was a ‘milker-of-funds’ ~ for himself ~ as is his portrayal.
    And as his ‘urban-legend’ has now become near fact, I know I’m on a loser…

    My interpretation is that Pannu’s ” pocket expenses” (which must have equated with about a few hundred HK staff travelling to the UK and back again, every 2 months) was basically an abuse of Carson’s financial quarantine. The ‘ready-monies’ were for Carson, IMO -CAPITALS – those ‘pocket-expenses’ were Carson’s high-living-costs when all else was closed off for him.

    Carson lived ‘High-on-the-Hog’ before his arrest,and also after restrictions were supposed to limit his lifestyle in the pre-trial limbo of 13/15 months, or more.
    Hence, “pocket-expenses” for which Pannu is responsible for ~ although UK Tax has been paid, it is a substantial sum – a very large sum – to be paid for travelling staff.

    And IMO CAPITALS again ~ the Asia Rays contract (which was verbal initially, I think) –
    was the price the poper had to pay.

    That’s my reasoning anyway. And I hate to say it, but if I were Pannu -BUT – a Bluenose, I would have done the same.

    And then, put as much distance and legal paperwork between me and the sinking sandcastle as is
    expiditious and socially acceptable.

    Did my best Peter :-)

    Take care fella and safe journey home.

    • Art Watson says:

      You make some very interesting points of which some are valid.

      My point is this:Apart from orchestrating the financial demise of the club by selling off its “player assets”what else did he do to justify his extortionate salary and how much time did he spend at SA when the club was spiralling downwards.?

      Personally I think PP had milked the club,lined his own pocket and I can’t wait to see the back of him.

      • Letsby Avenue says:

        To Art …

        I know Pannu is the second “Big Bogeyman”. OK :-)

        What Peter P did is to stop Blues from administration.
        With the welcome media hype over our “fantastic” players he cashed in.
        90% of his player sales were for ‘cash-up-front’, as last years audits showed.
        That “cash-up-front” was for emergency cashflow problems at St Andrews.
        NOT just Ziigie’s wages, but also Julia Sheltons to Tom Smiths.
        All employees of Blues.
        Kept in their jobs because Pannu sold Butland and Redmond etc for cash-up-front.

        People said we sold cheap, well you do if you need the money…but how much would some of them go for now?

        Jordon gave us a kickback,as may Nathan if he moves on.

        BUT the prevailing consensus seems to be that Peter Pannu sold them to line his and BIHL’s pockets. That BIHL are fraining Blues’ finances. That any money made at St Andrews is syphoned off to Pannu’s Asia Rays or BIHL.

        These are self-propogated myths by ‘ITK’ anonymous Forum posters, that now sem to be accepted as Facts.

        Do you, or anyone else have respect for Wiseman ?

        He told us last season, and FEW PEOPLE LISTENED it seems.

        NO MONEY GOES FROM BLUES TO HK.

        In fact, he went on to say, BIHL support, financially, as well as they can the St Andrews club.

        BIHL ACTUALLY GIVE US MONEY.

        What a terrible fact…but said by Mr Wiseman and ignored for 7 months by all the “ITK” {In-the-Know} posters on SHA and FreeForums.
        The most read, unfortunately, Blues’ Forums.

        Stick to this Blog – it ain’t a Forum – it’s a Blog !
        But we can have our twopence worth :-)

        • Richard Granfield says:

          Lets by Avenue………. I agree with you. I posted sentiments similar to yours last month and was criticised for them particularly from Chris R who questioned my loyalty to Blues.
          The money to pay wages, maintain infrastructure and sundries to keep the Club afloat after CY’s arrest had to come from somewhere. Unfortunately it came from player sales, but as I posted last month at least we have a Club to support.
          I hope better times are on the way.

          • Letsby Avenue says:

            I think they will be .
            I’ve supported Blues from 6 years old
            and don’t believe God is this cruel

            :-)

            It balances!

            Our time will come.

            .

    • almajir says:

      Quickly, point by point.

      There were no travelling staff. Ever. That was an untruth because he had been caught out.

      And no, the contract wasn’t verbal. Ever. I know that for a fact.

      Put it this way Letsby, I get where you are coming from but you’re adding two and two together and not getting four. If Pannu had done a great job, he’d have been kept on regardless of cost. They’re not renewing his contract – read into that what you will.

  • Eddie says:

    I have a Limited company and my registered office is also somewhere remote from where I work.

    I am a domestic electrician working all over the midlands and registered my office away from home to keep the salesmen from my family door.

    I don’t see anything strange in this.
    what did you expect to find? Pannu playing “Angry Birds” at a desk

    • almajir says:

      Eddie

      Actually, I didn’t expect to find much there. However, I know for a fact (pesky things, these facts), that Pannu has practiced business from that address. I also know from the accounts that BIH pay to rent PP an office in HK, and I wanted to know why he couldn’t use his own.

  • Letsby Avenue says:

    Eddie…

    I think AJ’s motives and actions were right and proper.
    He’s trying to make contact with Peter Pannu, who doesn’t respond in other ways, so if he didn’t call at the “Office” – {and find it in the state that it was} – why on earth bother ?

    We all now know, thanks to AJ that it is not an “Accommodation Address” and that it has been ‘inhabited’ ~ so that is a few Forum conspiracy theories blown to dust.
    People worked there or at least existed there.
    This may be an indication of Peter’s future, namely, that he is leaving and has wound up
    Asia Rays. Staff paid off, office cleared etc.
    AJ was just too late, as were his HK partners.

    Rental records for that BUPA Building may give further information…length of lease, termination etc.

    Might be another book :-)

    • Eddie says:

      I agree it was right to have a nose.
      But no surprise a registered address is unstaffed

      • Letsby Avenue says:

        :-)

        Huh ?

        “Of the two offices on the first floor, one is occupied by an insurance brokers and the other is completely empty. We checked with the people in the insurance brokers to see if Asia Rays still had the office and they confirmed that Peter Pannu’s company was indeed based in the empty office that stood next to theirs”

        It is not an “accommodataion address” – nor an address to ‘leep salesman away’

        Pannu’s Comapany WERE BASED THERE !
        If AJ’s partner had been faster, an interview may have happened. with the staff.

        But..if they can access Rental Records for the BUPA Building, they / we ..may have a clearer idea of tiungs.

        Jeez Eddie,,, lol

    • almajir says:

      Letsby

      Last time. My name ain’t AJ. Stop calling me that.

      WINK

      • Letsby Avenue says:

        LOL…..ok.
        It’s just “AJ” is easy for me to type, because the print is so small for me…I make dozens of spoiling mistakes that I can’t see or notice when I intially read through.

        You’re too young to remember Alma Cogan – a singer – “Sugar In The Morning” etc.

        I can do ‘Alma’ quite easy, or should I not bother ?

        :-)

        Anyway, once again, take care….fella…and safe journey home.

  • Richard Granfield says:

    I have a couple of points. The firm next door should know how long the Asia Ray office has been vacant. Secondly has Asia Ray moved premises and if not does it still exist?
    As for PP we should know his future next Tuesday.

    • Letsby Avenue says:

      1 – Yes !
      2 – Yes ! {The BUPA Building Rental / Lease Records …as above}

      And Yes to your 3rd point. RG…I’m getting tired of being the Devil’s Advocate

      Please Go Peter…. :-)

    • almajir says:

      They either didn’t know or played dumb

      Not according to their last annual return

      and yes, we should

  • blue lizard says:

    Part of the problem with Pannu is of his own making…the lack of openness and any sort of affinity with the fans plus his only answerable to himself attitude and general arrogance makes people not trust him and assume the worst..(oh! and just for the record this is my opinion only.. I have not been influenced by anything on OP)

    • AndyW says:

      I agree BL. Everyone is arguing about who has done what and when and for how much, but the reality is that very few people know because there has been a complete lack of communication and transparency. Hence we got lots and lots of speculation and commentary which whilst interesting to debate, is actually not provable. Yes there are accounts and registrations of this and that and shareholders etc. but they don’t tell half the true story? And you just have to ask yourself why? Why is there this veil of silence? Why are we being fed misinformation about potential takeovers and investments? If you were in charge, why would you not say anything, particularly if it would give investors and supporters something to cling onto?
      I trust Dan to tell us what he knows when he can, but I’m sure that even he will admit that it’s pretty damn difficult to find anything factual that will give us all the promise of better things to come that we so desperately need? But I for one hope he keeps trying because for me it’s all we’ve got!

  • Chris W says:

    I think in the beginning PP did have Blues at heart and looking back he has done some positive things in helping BCFC to continue to function and not fall into administration.
    The fact that his consultancy fees were made known and seemed excessive when everyone else was expected to cut back, along with redundancies of people who were keeping the club running did little to earn the respect of supporters.
    His lack of informing the media or supporters of the plight of the club or reasons behind some of the odd decisions and selling players on the cheap, the fact he rarely turned up to games despite being in the country or even Birmingham further alienated him from the club and the supporters.
    Good luck in try to seek information but you will probably have more joy getting a meeting with CY than locating PP, who seems more elusive than “Wally”
    KRO+DNM

  • Bluenosesol says:

    Guys, in the past, a company I worked for had half a dozen top notch consultants working on our premises for 6 months and came up with a strategy that changed the direction of a business many times bigger than BCFC. The entire consultancy cost what Pannu charged for a year. I just wished that those who paid me and assessed my performances cut me a fraction of the slack that some of you guys are cutting PP!

  • dave mann says:

    love the orange door mat!!!….enough said from me on this subject. KRO.

  • BluesinJapan says:

    Have you ever thought that by being in an unfamiliar country, dealing with matters involving at least 1 criminal, and about matters which they probably don’t want looking into too closely, that you might be testing your luck a little?

    I don’t mean this to sound threatening, I can say 100% for sure that while I am based doing business in this area of the world I have nothing to do with anything Blues; just that I’d be a little hesitant about chasing the money too far while actually in the country.

    • almajir says:

      I know you’re looking out for me but HK isn’t that unfamiliar for me, and it’s not like I haven’t got local help.

    • AussieBlue says:

      Yep; I been down that same road BiJ; this guy Dan’s got balls and the cricket box to protect ’em. It’s ‘them’ that need to be afraid, not ‘im.

  • Strettonbluenose says:

    Although Pannu was probably the highest paid after Zigic left, when he started he was probably well down the list, which is unusual for the chief exec of any company. It was probably affordable when he started. And paying him that much is another example of the kind of business accumen that paid Gold and Sullivan £81m for the club on the second attempt and forgot to end the agreement with the consultants for the first attempt.
    Because of transfer fees and players wages, most football clubs in this country run at a loss and are subsidised by someone. I find it hard to believe that Blues haven’t gone bust and BIH have “milked” the Blues.

    • Letsby Avenue says:

      I agree SBN.

      Pannu did the ‘dirty work’ that was required to bring in cashflow, pay wages
      and IMO provide/support Carson’s lifestyle when Carson was in financial quarantine.

      As I said earlier, if I was Pannu, BUT a bluenose, I’d have done the same for the guy who gave thousands and thousands and THOUSANDS of Blues’ fans their biggest joy.
      But I’d have probably gone to clink, whereas Peter P won’t.

      Just a last little aside.

      I truly don’t know what some fans want in terms of disclosure, or communication etc.

      We had over 10 years of ‘Over-Communication” from the 2 Davids and Lady Karren, which boiled down to giving us all guilt-trips about our lack of giving them money.

      They never went into financial detail, except when telling us things like they’d bought a £10million player – {Mikael} – the £10m included his 4 year wages, fees, etc.
      BIHL is a publicly listed Company…what on earth can anyone say, publicly, about debts, income/outgoings etc?

      Arsenal are not a publicly listed company, but Stan Kroenke a major shareholder has just taken £3million out of Arsenal and paid it to one of his US companies.
      He’s refused to explain nor answer journo’s questions, let alone fan’s questions.
      They will have an AGM in the next month or so, and he ain’t going to appear.

      Under Ridsdale and then Bates, at Leeds ~ what did the fans asking the old hoary cliche – “Where’s the Money Gone?” get in response.

      Nothhing.

      So I don’t know what bluenoses want when they say there’s no communication?
      Do the Glazers,Mansoor etc discuss FINANCES with fans?
      Why or rather HOW, can our owners do it ?

      Do we want chatty comments a la David Sullivan, about how hard he works on transfers, how he paid Sutton’s wages etc out of his own pocket – (well, one of his company pockets, at good interest rates, which he reclaimed in full from the Premier TV rebate that August and told Bruce he had a much reduced transfer kitty}
      The 2 Davids commubication was all about their alleged financial support and how they really love Blues. When in truth it was all about maximising their revenue from fans and loans.

      As a public company, Pannu, nor Pavlakis, can NOT chat away about financial details.

      Kroenke at Arsenal can do, but doesn’t.

      Do the gooners have as much “hate” toward their counterparts ?

      BIHL ain’t “God’s Perfect Company” by any means.
      I think just a bit limited in PR ~ even the understanding of PR ~ lack of awareness and a lot of ‘navel-gazing’

      That’s me done now

      :-)

      I’ve not commented on AJ’s blog for months, so I’ve made up for it this time.

      Shitenhouzen…thungy’s Blog

      :-)

      • Royalblue says:

        Letsby, you make some excellent points.
        I have had some heated debates with other blues fans about the shite Sullivan/gold fed us.
        I for one never bought in to it.

  • StaffsBlue says:

    A quote by Jasper Carrott yesterday… ““Does it ever go our way? “Just when you think there is light at the end of the tunnel, it’s a train coming in the opposite direction.”

    Just about sums us up doesn’t it?

    • AussieBlue says:

      That bugger never paid me for a gig at the Boggery in the 70s. Wouldn’t trust a word Bob says ;-) (kiddin’). Mind you, I were no Ralph McTell.

  • Blooflame says:

    Brilliant bit of footwork mate. Pannu knows the net is closing, my advice mate is not to be exposed over there, you know the history. You’ve worked tirelessly to keep us all informed, do I smell a book in the offing??? If there is put me down for a copy. Empty offices, incommunicado, you just KNOW something underhand is happening, of course it is a personal opinion.

    • Chas says:

      If it’s of any interest, Pannus name was removed from his car parking space at St.Andrews today

      A lifted quote from a Forum, mainly posted to stop me getting cut off and having to chase around for another Password.

  • AussieBlue says:

    Want to know how easy iy is to set up a company in HK?
    http://www.chuilaiandcocpa.com/sdp/537311/4/cp-2813702/0/Our_Fee_Schedule.html?gclid=CODJ-Zb6_sACFYqTvQodiH0AnA

    What’s the bet that Asia Rays will be de-registered once the final payment is made. Then Zoooooosh! money goes awol. Office or no office, dey gone man.

  • mark says:

    JC rule himself ever owning the blues…..we need hundreds of millions of pounds pumped to the club……………well burnley didn’t need that amount…….maybe he afraid getting his fingers burned..OR maybe he got no golden balls after all……..

  • Chris W says:

    I’m thinking if we don’t win today the first thing on the agenda should be the appointment of a new manager.
    Be our luck for burn to score a hat-trick against us.
    KRO+DNM

  • Chris W says:

    Two wins in 12 months has to be an all time record for any team.
    I have followed the the Blues since the early days of Europe during the early 60’s and seen some poor managers but Mr Clark, you leave even the worst standing.
    They said that Lou Macari had the worst fittest players in any league, I know poor pub teams who are fitter than this lot.
    We go a goal up and then drop deep to defend which just invites trouble, Reilly can’t pass to a blue shirt, Donaldson is worse than Heskey, who couldn’t hit a barn door with a banjo.
    Players are being picked for all the wrong reasons, players are still being played out of position and players are either not listening to your tactics or your tactics are all wrong in every way possible.
    Time to do the honourable thing and walk away, if not for your own sanity, do it for the supporters of BCFC, let us have some pride back in our club.
    GO NOW!!!!


Personalised Gifts for a Bluenose
Haircuts and League Cups
Open Tax Services
Corporate Solutions UK
PJ Planning
Rodal Heating

Archives

Weekly Newsletters