Often Partisan

Further delay in BIHL accounts

News has broken in the last half hour that the end year results for BIHL for year ending June 30 2011 have been delayed again until next year.

The official announcement to the stock exchange has announced that the meeting to approve the accounts will now not be held until January 31 2012, with the results to be announced on February 15 2012.

My personal opinion is that this can’t be good news – but we shall have to wait and see.

Edit: they’ve also announced a profit warning.

Tags: , , ,

Article sponsored by Small Heath Alliance

15 Responses to “Further delay in BIHL accounts”

  • Scoobers says:

    Agreed.

    Co-incidental the dates fall into line with the end of the transfer window …

  • JohnR says:

    There is a second announcement warning of a substaniail loss. What dies this mean, other than the obvious?

  • Paul says:

    I believe now this could be it for current season as there is no doubt the likes of
    Rigewell ,Zigic,Beausjour and Carr will be sold in January . Something needs to happen and happen fast !!!!
    But like is asid to a friend of mine whatever happens i will still get a season ticket next season and whether we be in the Blue Square or the Premier League i will be there singing KEEP RIGHT ON !!

  • bluenose11 says:

    when yeung took over and the sullivan and gold era was ushered out with such happiness amongst the blues faithful myself included, blinded by 80 million investment promise and so on people said to me then be careful what you wish for and unfortunately they have been proved right . we are being made to suffer through a mans personal vanity to own a football club he could not afford . but in all of this we should not forget the biggest lie sullivan and gold told us to date , that when they did sell blues that it would be left in safe hands and that they would make sure that whoever they sold to would be able to take blues forward i personally feel very let down by both the current and previous owners

  • Oldbluenose says:

    Not being abreast of financial Co, laws or obligations,?. How does this ” stack-up ” with Football league regulations,???.

  • AR says:

    It’s hardly worth saying (so I apologise in advance), but what a mess the board has made of last year. Remembering that relegation came from the players & the manager, it is still very painful & to some extent frightening that the board could leave OUR club in such a position. I was also perturbed to hear that Mr.Pannu had to persuade the board that Chris Hughton was the right man for the job. Perhaps the wishes of the majority of fans helped in this case, I would like to think so. It would be more than helpful if if Mr.Pannu could be persuaded to admit to the terrible mistakes that have been made & the consequent mess we have been put in. I think most fans would appreciate a bit of honesty & transparency and would then be more forgiving. I realise it may be difficult to lose face, but the board should realise they would be talking to supporters of an English football club, who would be more sympathetic not less.

  • thomas hallberg says:

    It’s all a matter of trust. I don’t trust the boad. I don’t trust Mr.Pannu. For me it’s so strange that the club all of a sudden is almost broke. What ever happend to real money? In my world you have to have money to buy things and what you bought is your value. What sort of payment agreements did Mr Yeung use when he bought the club? I think we already have seen big salary players left us and if we have to offload even more players it will be very hard for Chris Houghton and keep on with the good work he is doing. Credits to him. I keep my fingers crossed that he stays onboard whatever happens in the 31th of januari.

    I agree with Paul, whatever happens my heart will always be blue KEEP RIGHT ON…

  • P.J.Nicholls says:

    This state of Limbo cannot be allowed for ever surely.
    How do the Singapore authorities expect a business to run with their seizing of all the assets.
    If they do not find any proof of any crime will they be reimbursing BCFC for losses brought about by their direct actions.
    If they do take the company down the pan what will they do with BCFC sell it off to the highest bidder????

  • O E Nicholls says:

    This is very concerning, and again doesn’t give us fans alot trust in the current board. A few things i’d like to point out regarding the original purchase….

    Firstly they paid massively over the odd’s for what was a very inexperienced team. £81 million against the US General buying the Vile for nearly £40 million less. Now i am a die hard blue nose, however i am also a realist and at that time I cannot work out how we were valued more than the Villa. A far superior ground, a better manager and back room staff at the time, and alot more assets in the form of players.

    Now this is purely speculative, but was £81 million really paid? Or was it to launder money? Lets not forget the troubles that Sullivan and Gold have been in the past, followed by CY allegedly suing them after for paying to much, yet an undisclosed fee was agreed and never publicised. Now i’m not a conspiracy theorist however it doesnt sit well. If a payment was made to BIHL from Sullivan then it must show in annual accounts, so i guess we’ll all see how much was paid back, if its not there then thats when the questions will be asked. On paper if the payment isn’t detailed in the report then it should raise some eyebrows.

    If CY is found innocent then surely we would be due some type of compensation, as it has damaged both the boards name along with the name of BCFC, i doubt very much that innocent will be the verdict.

    I’m also surprised that Mr Sullivan has failed to comment on this saga as yet, after all he is probably the most out spoken owner/chairman in football…..

  • Bluenosesol says:

    Almajir, this link shows the “official” profit warning. The BIH document has a Blues badge at it’s head and states that the warning is due to financial failures at BCFC. Does this not once and for all demonstrate that the financial performances of the two are inextricably associated?
    http://www.hkexnews.hk/listedco/listconews/sehk/20111031/LTN20111031533.pdf

    • Dirty Bertie says:

      Er… don’t think almajir ever said they weren’t linked.

      BIH owns BCFC. Last year BIH wrote off goodwill of 400 million HKD (£35 million) presumably because its asset (BCFC) wasn’t worth the £81 million they paid for it.
      Now it’s a championship side they’re saying they’ve got to write off a wodge more goodwill and (mostly I think) trademark value.
      Unless a creditor goes unpaid or a director pulls the plug things should continue as they are until January when the rumours re player sales may be proven true due to the need to further balance the books.

      Hope we continue to win so a director (or 2) can be persuaded to dip into their pocket again. KRO

  • JeffHallsClock says:

    Looking through the list of Directors – I wonder how many people recall that “Steven McManaman” is an EXECUTIVE Director.
    I remember he was originally described as “in an advisory capacity”- but Executive indicates it is now much more.
    Perhaps it is time that the only Englishman on the board spoke to the real shareholders of the company – the fans.

  • chris says:

    bluenosesol
    yes they are linked, but blues’ prem potential income was used by these muppets to pay for building their far east portfolio of businesses by credit.
    then the prem money is no more and they have still have the same debt payments to meet with half the income.
    blues has been used as a cash cow and they were so blind to the fact that if we went down they would be in the mire, then it actually happened.
    the board and the banks which lent them the money are no better than the banks here , you would have thought they would have learn’t from the west’s screw up but that’s the rich and greedy world of business for you , they always think it won’t happen to them, deluded!!


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

Archives