Day: June 25, 2015

[From the archives] Forbes Apr 2013 cover story of CJ Group’s Lee Jay-hyun Vs Feb 2014 sentence to 4-years jail for fraud and stock price manipulation

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http://www.forbes.com/sites/johnkoppisch/2013/04/24/cashing-in-on-pop-culture/print/

http://www.koreaherald.com/view.php?ud=20140214001178

http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=2994782&cloc=joongangdaily|home|newslist1

http://www.koreatimes.co.kr/www/news/opinon/2015/04/351_171136.html

John KoppischForbes Staff

FORBES ASIA 4/24/2013 @ 5:50PM 7,447 views

Cashing in on Pop Culture

If 2012 was the year the Korean Wave came ashore around the world, then certainly Lee Jay-Hyun made one of the biggest splashes. His CJ Group is big in Korean entertainment, and at a time when Korean movies and K-pop songs seem to be everywhere, that has helped goose the stock price. Lee’s wealth jumped 70%, to $1.7 billion, over the past year, riding an 84% leap in holding company CJ Corp.’s stock price. He moved up to No. 10 on the list, from No. 22 a year ago.

CJ was a darling of investors looking for a safe domestic play in an uncertain year for the customary locomotives of the Korean stock market, the big manufacturing exporters. Continue reading →

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Hanergy declines to disclose parent’s accounts to HK bourse

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http://uk.reuters.com/article/2015/06/24/hanergy-tfp-hkex-disclosure-idUKL3N0Z82US20150624

Wed Jun 24, 2015 3:30am BST

EXCLUSIVE-Hanergy declines to disclose parent’s accounts to HK bourse -sources

HONG KONG, JUNE 24 | BY CLARE JIM

The Hong Kong bourse has asked Hanergy Thin Film Power Group (HTF) to hand over its Chinese parent company’s accounts before it will let the suspended stock trade again, but HTF is resisting the request, sources told Reuters. Two sources familiar with the matter said HTF is studying a proposal that as an alternative to disclosing the parent company accounts to Hong Kong Exchanges and Clearing Ltd (HKEx), HTF could buy parts of its parent, Hanergy Holding.

Hanergy Holding, which buys solar panel making machines from HTF and then makes solar panels for sale to third parties, accounted for two-thirds of HTF’s sales last year. Analysts say that makes HTF overly dependent on group sales, and since unlisted Hanergy Holding doesn’t publish accounts, it is impossible to know whether there is independent demand for the end product. The proposal from HTF would bring the entire supply chain and ultimate sale of solar panels into its own books, the sources said. Continue reading →