Often Partisan

Takeover Update – No News…

Birmingham International Holdings made their monthly update to the HKSE this morning with respect to the takeover by Trillion Trophy Asia.

The announcement is here; once again it’s brief and there is no new news with respect to the takeover. The next announcement is due by January 31.

As much as I can already see people roll their eyes I don’t think all is lost. One thing that has come to my attention is that the main EY guys at BIH – Stephen Liu and David Yen – have become involved in another rescue operation at a HKSE listed company; one that is in a worse state than BIH.

Liu and Yen have been named Executive Director and Alternate Director respectively at China Shanshui Cement Group Ltd (HK:691) this month. ¬†Shanshui Cement have had issues of late; their board were deposed by shareholders who were unhappy with the way the company was run; accountancy books and the like were stolen from the company HQ, while their Chinese subsidiary had it’s former director “barge” into it’s head office complete with a bunch of “gangsters” who then proceeded to destroy company owned property.

It strikes me that this may mean that Liu and Yen will be busy with this new company to be sorted which in turn may mean that their business with BIH is nearing completion and that soon they may be able to turn it over to TTA or similar. What’s holding things up I don’t know – it could be anything from paperwork to the notorious slowness of the HK authorities.

Although there is nothing set in stone I’m starting to get a feeling in my water things are moving on under the surface – and maybe, just maybe, we’ll be told more shortly. New Year is a time for looking forward – let’s do that with hope for a better 2016.

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29 Responses to “Takeover Update – No News…”

  • Richard Cooke says:

    Daniel, I hope you don’t mind that this message isn’t a direct reaction to your latest blog but I was given a copy of ‘Haircuts and League Cups’ for Christmas, I finished reading it this morning and found it an engrossing book. My thanks and congratulations to Will Giles and yourself (plus many others) for taking the time and trouble to get it published. Required reading for any true Bluenose. Now, onto the next chapter in the saga…….

  • DoctorD says:

    Daniel….not sure I want to know about your waters but you may well be right. No-one gets moved on in business unless a project has moved to a new state. Let’s hope for progress in 2016.

  • StaffsBlue says:

    I can see it now…. the blog this time next year will end with “The next announcement is due by January 31 2016.” :)

  • zxcv says:

    Interesting Dan. At a guess I would think the case due for April will maybe hold things up and it would have to be a court to sanction anything big E&Y recommend. So maybe the three months waiting time for that means these two are not needed until then. Just a thought.

    • stephen powell says:

      They will have another team at EY doing the mundane day to day things until the next court appearance if our 2 boys are off on another case

  • Poppa says:

    If you are going to be pedantic try to get your grammar right.

  • zxcv says:

    In second thoughts tho would it have to be different court sitting for any recommendations like handing control over to TTA or likewise.

  • Robin says:

    Let’s look forward to a happy 2016 for all us blues fans & positive news ahead
    Dan thank you for all the information you’ve fed us over 2015 & all the best for the New Year KRO

  • Alan Dawson says:

    Thanks for all the info over 2015 , we all want the best for Birmingham and the frustration overflows with some of the fans comments , all this saga is frustrating and we can only hope we see that light down that dark , dark tunnel in 2016 and we come out the other side with new better owners with Panos involved at Blues too , Panos has been a breath of fresh air at Blues.

  • Richard Granfield says:

    Dan. You inferred that the protagonists from E&Y launching a rescue operation for the Cement Co may mean their business with BIH is nearing completion. I hope, and every Blue Nose hopes that is the case.
    However there may be other inferences which could be deduced from E&Y’s actions which are not so positive.

  • Mitchell says:

    Daniel. Brave comments of yours. Many of us will now get wildly optimistic that EY are handing over to TTA and EY going on to pastures new. At the risk of probably spoiling News Year Eve for many- I just cannot get passed CY still adamant about not selling etc. and possibly EY getting just as frustrated and taking on something a little less complex.Pessimistic,negative,glass half full-call it what you may- hope I am wildly off track,but like ‘your waters’ I get this feeling in mine.

  • AdamTrueBlue says:

    As CY will probably walk free and have no crimes to answer for, his next step will be for the court’s to remove EY, he will then resume where he left off and reappoint Pannu to the board, EY will retire with their tails between their legs and submit a back dated invoice for costs and TTA will request their investment + interest back.
    Sorry for doom and gloom but I have not heard anything to persuade me otherwise.
    Praying for a happy New year. Kro

    • Mitchell says:

      If many bluenoses are totally honest Adam,you have echoed most thoughts.

      • DoctorD says:

        Well that’s one possibility but tbh I put more trust in what Dan has to say as he’s the only one round here to have written a whole book on the subject of BIHL.

        • AdamTrueBlue says:

          I agree, it’s only supposition from all of us, but EY we’re only brought in to manage the day to say running of the club and sort out the mess,they have never given any indication to their long term objective, the fact that they are moving on suggests to me that they can no longer be sure if an outcome and their days at the helm are numbered, as I said at the begging only supposition or but feeling and definitely not the outcome I was hoping for..

  • Dave Mann says:

    Ah well , looking forward to Brentford and a chance to get right back in the top six picture with Burnley and Ipswich playing each other .. Happy new year everyone and 2016 should be very interesting , keep the faith and the support . Kro

  • kirkus says:

    Yes hopefully 3 points v Brentford to start a very positive new year going

  • ChrisG says:

    Like I said before, no point worrying about something we can’t do anything about, as the song goes que se ra, se ra whatever will be will be, lets hope we’re singing a rendition of that in may.
    KRO & HAPPY NEW YEAR NOSES

  • Gary says:

    Having spent 10 years at one of the ‘big 4’ accountancy firms, my experience is that partners in this line of work generally hold several appointments st the same time. Whilst they have teams reporting in to them in each job, their own role is rarely full-time. So, these guys being appointed to a similar role at another company may not be indicative of any significant change at BIHL.
    Perhaps you know other things that are affecting the feeling in your water Daniel?
    Can I join others in saying thank you for your continued efforts to keep us all informed, I am another who is very grateful for your hard work on our behalf. Keep up the good work and Happy New Year.

  • StaffsBlue says:

    Happy New Year to all Bluenoses!!

  • John says:

    I wonder whether E&Y can take retrospective action against Carson if he were to walk free and remove them if E&Y have found anything dodgy etc up to now since they were appointed.

    If they don’t get the chance the leave on their own accord and are pushed out, I wonder if they could claim something like, whilst we were there we found X, Y and Z of which we never got the chance to sort out etc ourselves? This could prompt further investigations by a sort of independent adjudicator to stop Carson and co destroying evidence etc…..well im being hopeful….i’m guessing with all the optimism I can find over this whole saga so even if E&Y are forced out then in might no be as bad as it first seems,

    I say this as Carson and Pannu were so against the E&Y appointment that they must surely have something to hide or are worried about it becoming public knowledge,

    • zxcv says:

      John, E&Y are court appointed and only they will say when its time for them to leave. Everything that they have found will have to have been dealt with like the charge U- Continent were knowingly entering into a deal with BIH while acting in concert with Carson Yeung but without disclosing that to the HKSE.

      If found guilty and even if he wins his appeal for Money Laurdering I doubt he would ever get BIHL back trading as its they who he did not disclose this to, and that would be imo on top of whatever the courts were to hand down, Dan has pointed out in his video blog such a case where recently directors were banned for 10 years. Its only my opinion but I can see no way he will ever get near St Andrews again.

  • joebradford's ghost says:

    A load of gangsters storming the offices and smashing equipment up? Sounds familiar


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