rouge faces at the bank after moulin's future becomes a blur Who isn't shocked by Moulin Global Eyecare's teetering on the brink of bankruptcy? Listed 10 years ago, the world's No3 eyewear maker became an institutional investor darling almost from day one. Chairman Ma Bo-kee was your new generation, globally ambitious Hong Kong manufacturer who revelled in sweet talking investors and the media. Rarely did any visitor to the firm leave its offices without being plied with flashy sunglasses as a parting souvenir. Alas, a firm that took more than 40 years to build seems to have come undone in less than six months due to its over-ambitious overseas acquisitions. Now 16 banks are moving in to recoup as much as they can from what would be one of Hong Kong's biggest bankruptcies. HSBC is listed as a principal banker with a rumoured $1 billion loan exposure, and faces one of the biggest hits from a local corporate since Siu Fung Ceramics went belly up five years ago. The pain is likely to be widespread, with one acquaintance telling Lai See: 'Nine of the 10 bankers I know had exposure to Moulin.' HSBC's involvement no doubt provided a vital comfort level. The Bank emerged as Moulin's principal banker only last year, according to its annual report, replacing BNP Paribas, which had held the position since 2000. As a result, it seems the French bank has very little exposure while those normally astute chaps at the Bank have been left holding the baby. Sources familiar with BNP Paribas's thinking say it became sceptical about Moulin and quietly reduced its exposure. Looks like a champagne party at the Moulin Rouge may be in order. chiu chow googly beats straight bat Certainly the omens must have looked good for HSBC when it set about doing its due diligence. Lai See understands the man assigned to check out Moulin's credentials was David Boycott, deputy chief in the credit risk management office and a manager renowned for his straight bat and tightly defensive stance. Alas, he appears not to have lived up to his name's billing, and has fallen prey to the little-known Chiu Chow googly. refreshing margins at the high end Watermelon at ParknShop? $20. A bottle of Watsons Water? Maybe $5. Now consider the offerings at AS Watson's new high-end outlet Gourmet: Japanese-imported square watermelons, $2,300; limited-edition private reserve Longjin tea picked from the Thousand Island Lake this spring, $650: and finally, a bottle of water containing 4mg of platinum, $26.90. Given these margins it is not hard to see why Li Ka-shing's supermarket chain is going high-end. stanley's women spice up board games Did Macau casino king Stanley Ho Hung-sun really think having two wives on the same board would be easy? Yesterday, his sister Winnie Ho Yuen-ki objected to a plan for a special general meeting to have her expelled from the board in favour of Mr Ho's No3 wife, Ina Chan Yuen-chan, and wife No4 Angela Leong On-kei. The bitter sibling rivalry that has riven Macau's first family has Winnie claiming to be owed $3 billion from the family businesses. As part of this struggle, Ms Ho seems to have believed that she had blocked a controversial share transfer, but Mr Ho apparently outmanoeuvred her, resulting in a fiery press release being issued yesterday: 'The way Mr Ho treated his sister and shareholders would not only destroy his family and social harmony, but also break the law and reputation of Macau SAR.' And this is before the wives joined the struggle. shkp flat out on charity front It may not be an operating statistic to move the share price, but Hong Kong's No1 property developer is certainly proud of its charitable record. More than 900 staff from Sun Hung Kai Properties Volunteer Team apparently spent 11,400 hours doing good works last year, representing an increase of 35 per cent. Their good deeds included an inspection programme at Pak Tin Estate Home, a charity dash up the Two IFC internal staircase and the Angel Smile Creative Parade Carnival - to name a few. Who says nice guys come second?