Often Partisan

BIH Accounts Update

Birmingham International Holdings confirmed in an announcement made to the Hong Kong Stock Exchange that the long-overdue accounts for Years Ending 2011 and 2012 will be presented for board approval on March 15 2013.

The announcement confirms that three sets of accounts; namely the Year Ending June 2011 accounts, interim accounts for 6 months ending December 2011 and Year Ending June 2012 accounts will be discussed by the board and potentially approved for public release. Should all go to plan and the accounts be approved then I would expect them to be published by BIH the next working day, which would be Monday March 18.

The publication of the accounts is one of the last major barriers in the way of selling the club under HKSE regulations. The original overdue accounts have been due since September 30, 2011.

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  • DoctorD

    So 3pm on Friday 15 March – conveniently just as the weekend starts. Always a good moment to drown bad news in the press I suppose.

    Al – you gonna get a flight out there to report on it? You know what the address is from their announcement….

    • almajir

      To be fair, their address is on their corporate details online.

      I doubt somehow they’d let me into their board meeting…

      • Oldbluenose

        Almajir;, Are you still under the oppion that NO sale is imminent yet, ?.

        • almajir

          Can’t see it happening before the summer.

          • Oldbluenose

            Almajir;, I tottally agree with your last statement, — but I am of the oppion [ rightly or wrongly ], that there is a possible buyer poised, ??.

          • almajir

            Poised? Nah, can’t see it.

            There is definitely interest but a buyer poised to take it on? I’m not so sure.

          • prewarblue

            While I agree totally with yourself and Oldbluenose regarding the sale of the club,,,,,,,if and when it does happen I sincerely hope it is to persons who have NO cannections what so ever with “Yeung&Co”,,,,,,we need a solid foundation for the club,,,,,not one built on quick sand or the turn of a card,,,,,

  • prewarblue

    Recomend the payment of a dividend [ if any ] ?,,,,,,has the Co-op paid out then ?,,,,,if it has Blues wont see any of it,,,,,,,,,they will have to keep it legal,,,,,pay a copyright fee to the H.C Anderson estate and Gebruder Grimm for the use of their fairy story,s over the years

  • Masaccio

    Don’t be suprised if these get released to the market last thing at the end of a day.

    • almajir

      It’s a possibility.

  • Letsby Avenue

    Thanks again AJ

    :-)

    I would think that releasing the details to the public at the last possible minute on a Friday is emminently sensible.

    That way, those of a serious disposition in the ink mediawill have the weekend to contemplate and analyse rather than the inevitable rush to judgement – before they blast off on Sunday/Monday.

  • DoctorD

    Are there any OP readers out in HK? I suggest you pop round Friday week for a nosey at the offices and badger a few board members on their way out. Oh to be a fly on the wall at the meeting.

  • SolblueDean

    I can’t see any sale being agreed until the outcome of CY’s trial is finalised. Seems to me that one way or another he is fairly determined to hang onto the club somehow if cleared, either through BIH or with a new mystery CN consortium that he will pull together to by the club from BIH. Hopefully I am very wrong as so far our venture into for Far East ownership has been a roller coaster ride of mystery and dodgy dealing!

  • John

    These people are the main reason for the terrible situation Blues are in. Sure, the players have some resposibilty and the manager and his “coaches” would appear to be out of their depth,but ultimately,the incompetence of the directors,have brought the club to it’s knees. For all our sakes,I hope there is no Hong Kong connection,if and when,the club is in new hands.

  • chudlt

    I imagine any prospective buyers will wait until the summer to determine which division we will be in next season. That will no doubt effect the selling /buying price of the club.

    • Oldbluenose

      chudit;, That statement makes good sense, !!. I just hope that the ” field ” is wide open for a British backer/ buyer, ?.

      • DoctorD

        Oldbluenose — why should a British buyer be necessarily best?

        • Bluenosesol

          Because they are here!

        • Oldbluenose

          Dr, D;, As stated below, This Chinese ownership, has worried us all stiff, — Yes, !!. I am aware that it MAY have turned out differently if Carson Yuengs, ” alleged ” past activities had not caught up with him, !!.

          Other things that bother me concerning possible overseas ownership, May seem mild,!!. — But — Cardiff City [ Bluebirds ] are transformed into ” Reds “. — Nottingham Forest, are now on their 3rd/4th, manager in such a short time, !!.

          I am certain others will spring to mind if it really matters, ?.

  • http://. Art Watson

    “Beware the Ides of March”

    • Blueboy88

      It marks the date in 44 B.C. that Roman dictator Julius Ceasar was murdered by as many as 60 of his own senators, including his own protegy, Marcus Brutus.
      Brutus inflicted the final wound, stabbing Caesar in the groin and it was then that Caesar is said to have remarked “Et Tu Brute”, “You, too, Brutus?”

      Et Tu Pannu ? :-)

      • prewarblue

        Sounds like an old time Blues board meeting,,,,,,Pannu {Nero] on the fiddle while Blues burn,,,,,,back stabbing,,,,Vico Hui ,Sammy Yu, Carson ,,,,,,yep just an old fashioned Blues board meeting,,,,,nothing changes

        • http://. Art Watson

          Yes,

          Beware the Ides of March.

          A traditional blood letting day.

          Don’t turn your back on anyone -you could be next Mr P.

          • prewarblue

            the back is broad enough,,,,,there have been many knives there in the past , slings, arrows and everything else comes my way,whats a few more knives between friends

  • steve-0

    Off topic I know, but I’m the proud new owner of Bob Latchford’s first ever Blues contract.

    :-)

    • AussieBlue

      Steve-O; I went to primary school with Bob Latchford and his brothers David and Peter were there too. Lovely family; used to live in the old prefabs down Lindsworth/Monyhull way I recall.

  • http://oftenpartisan Tony

    Almajir you made a guarded remark earlier about Pannu stay in Hong Kong being more than just the accounts.
    Is it your gut feeling that something is in the offing regarding sale of the club?.

    • almajir

      Tony – no, I think there is more to running BIH than merely sorting the accounts.

  • http://oftenpartisan Tony

    Well done Steve would love to see Trevors first pro contract could be an eye opener ,dont forget Spurs offered £100,000 for him as a 15 year old

  • Steve-0

    Thanks Tony. I think this second to Trevs. It’s in pretty good nick too

  • zxcv

    I have to agree with oldbluenose i think it was, about a buyer waiting in the wings. We were never given a reason why others such as charlie chan (whatever is name was ) pulled out, and who nose it may have been due to no accounts been available and maybe he might be interested to cast an eye over them and rekindle his interest. But either way almajir is still correct that nowt will be done untilll the Summer.

  • mark

    never wish what you wish for……………….

  • marky mark

    Cannot wait to see what’s in the accounts, AJ in your opinion should we prepare ourselves for some shocks ?

  • BhamCityJulian

    The way I read it was that the board meeting was Friday and, if they approve they will be released on the following Monday

  • Ernie

    Why are people asking you if you know who is interested in the club and what is in the accounts? I can blog guesswork if they want

    • almajir

      No one is stopping you from doing so Ernie, it’s dead easy to start a blog online.

  • DoctorD

    The questions I want answered fromn the accounts are:
    1. How much was spent on transfer fees (in and out)
    2. How much was spent on player wages?
    3. What was the overall loss/profit?
    4. What money went on the xtep deal?
    5. What money went on director salaries?
    I am sure there is a lot more.

    • almajir

      1 and 2 are in the BCFC accounts.

      3 I think will be obfuscated

      Good luck with 4

      • prewarblue

        I notice there is a discreet “NO Comment” regarding number 5 question AJ lol

    • Oldbluenose

      Dr,D, Interesting list of questions, !!.

      The X/Tep monies being a major one, AND can we regain them, ??.

    • BhamCityJulian

      Good luck. They are only being published in Cantonese

      • almajir

        They will be in English as well

  • BhamCityJulian

    Almajir, you do take things too seriously at times :-)

    • prewarblue

      Just be glad they aint in “Manderin”,,,,,,,those “Orange” segments dont half make a mess of your keyboard,,,,,,and you have the problem of opening the tin as well !!

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