As recently as June 1 this year, Hong Kong native Allen Chan Tak-yuen was sitting pretty at the helm of Sino-Forest, a mainland timber supplier he founded in 1992 that grew to become the largest forestry company by market value on the Toronto Stock Exchange.Thursday, 1 September, 2011, 12:00am
After Sino-Forest shareholders, including hedge fund supremo John Paulson, racked up huge losses, the scandal looks set to claim its next set of victims.
Investors who own US$1.8 billion worth of the embattled Chinese logging company's bonds are set to lose up to 99 per cent of their investment, the investment bank Nomura has calculated.1 Sep 2011 - 12:00am
Charles Li Xiaojia is on a propaganda offensive. Following an explosion of fraud allegations against Chinese companies listed in the US and Canada, the Hong Kong Exchanges and Clearing chief appears keen to prevent local investors questioning whether our bourse could also be riddled with businesses that may be cooking their books.27 Jun 2011 - 12:00am
John Paulson, the US hedge fund supremo who racked up multibillion-dollar gains in 2007 and 2008 from predicting the subprime mortgage meltdown, has retreated from his investment in Chinese timber firm Sino-Forest, nursing massive losses.22 Jun 2011 - 12:00am
Shares of Greenheart Group, the Hong Kong-listed subsidiary of embattled mainland timber company Sino-Forest, were dragged down yesterday by fraud allegations against its parent.9 Jun 2011 - 12:00am
Shares in Sino-Forest, a mainland timber firm boasting US hedge fund Paulson & Co as its largest investor and former Hutchison Whampoa chief Simon Murray as independent director, have collapsed after a short-seller accused the company of inflating assets.4 Jun 2011 - 12:00am