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Sandy Li

Investment expert Fogle on the move
Investment manager Mark Fogle  (right) is moving on to fresh pastures just three years after joining Deutsche Bank's alternative investment management business, RREEF.  
Fogle, a former managing director at American International Group, assumed the job of chief investment officer for real estate in Asia-Pacific at RREEF at the beginning of 2007, after leaving AIG Global Real Estate Investment Corp. 
The 49-year-old has become  known for  consistently timing many investments in the region at the bottom of property cycles, according to industry insiders. 
His 2002 joint venture with CapitaLand  to acquire and redevelop the Furama Hotel into AIG Tower (now known as AIA Central) changed the Hong Kong skyline with the building achieving record rents. 
So where will Fogle be heading now?
Deutsche Bank is not commenting, but Ah Pak understands he will either join an  Asia-Pacific property fund which has dry powder to invest, or launch his own fund given his network of relationships with major property groups in the region.
Watch this space.
Other people's money
Anyone in the business of selling luxury goods, top-priced cars and up-market property loves cashed-up mainlanders knocking on their doors. 
And when it came to cashed-up big spenders, Xie Shuyong, the chairman of Beijing-based developer Huershen Group, was typical of his class - a regular in the gaming halls of Macau and until 2008 also well-known  as a big spender on antiques and luxury homes.
 Now it seems Xie's big spending was explained simply by the fact that it was not his own money he was using.
On Monday, Xie, whose company is developing a housing project named Dong Hua Jin Zuo, was jailed for life, convicted of cheating a bank of 600 million yuan (HK$681 million) used  as personal expenses instead of as a construction loan for the  project, according to the media.  
 A  Beijing court heard that Xie asked employees and their relatives to pretend to be buyers of Dong Hua Jin Zuo in 2000. The developer  helped more than 600 false buyers to apply for more than 600 million yuan in home mortgages at China Construction Bank Corp. 
 By the time he was finally caught Xie had spent more than 100 million yuan on antiques, 13 million yuan on  three luxury properties  as well as  millions on luxury cars. He also spent 20 million yuan decorating his properties and gambling in Macau.
Not hitting home
Ah Pak recently received a free publication called, Home Feel, issued by Ricacorp Properties.  The magazine reported on the production of its  television advertisement aimed at promoting its corporate image. In the advertisement, a man is seen wandering the streets aimlessly with no plan to go home. 
All of a sudden a 'superwoman' appears and asks: 'Why don't you go home?'  The man responds with no more than a look of shocked surprise. 
Yes, we know, all a little baffling  but evidently there is more to come.
Anyway, the advertisement reminded Ah Pak of the entertaining news two months ago that the company's chief executive, Willy Liu Wai-keung,  reportedly took his girlfriend Yuen Siu-mang shopping in the big-brand and big-ticket shops of Tsim Sha Tsui. 
The twosome were seen riding on a merry-go-round in Disneyland. Asked about the excursion, Liu's wife said she was concerned because her husband had been gone a long time and did not 'go home' like superwoman said in the company advertisement.



Ah Pak