Remember Yaohan, the Japanese-founded department store chain that bowed out in a blaze of glory last year with a raft of bargain-priced liquidation sales all over the SAR? Well, the mess that was left with the company's collapse is still being sorted out, and the liquidators of the local Yaohan holding company, Yaohan Hongkong Corp, have come across the odd interesting item.
We hear the assets taking up most of the time of the liquidator, Stephen Liu Yiu-keung of Ernst & Young, have been - wait for it - golf club memberships owned by a fully-owned Yaohan subsidiary, Yaohan Department Stores.
The company held a total of five memberships for golf clubs in Macau, Shenzhen and Hong Kong.
Two memberships in Macau were sold a few weeks back for around the $300,000 mark - a far cry from the $735,000 they cost back in 1991.
Another in Shenzhen did better, fetching in excess of $500,000 - although we hear it took two months for the liquidator to fetch the right price.
But the jewel in the crown of the five memberships is still up for sale: a single membership of the Hong Kong Golf Club in Fanling.
