SUNeVision (8008)

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#1
Thanks to Opmi!
http://valuebuddies.com/thread-1727-post...#pid103433

Here is a new thread on SUNeVision

SUNeVision Holdings Limited (Chinese: 新意網集團有限公司) (SEHK: 8008) is an IT company under Sun Hung Kai Properties, one of the largest property developers in Hong Kong. It is engaged in operation of Internet services centers and provision of system management services, and the design and installation of Satellite Master Antenna Television/Communal Aerial Broadcast Distribution and security surveillance system.[1]

The company was established and listed on the Hong Kong Stock Exchange via Growth Enterprise Market in 2000 with its IPO price of HK$10.38 per share. The international placing and public offer of the shares subscription were 55 and 217 times oversubscribed respectively. But after dot-com bubble burst, its share price have dropped over 90% from the IPO price.[2] - http://en.wikipedia.org/wiki/SUNeVision


Sun Hung Kai Properties
Sun Hung Kai Properties Ltd. (SHKP; Chinese: 新鴻基地產發展有限公司) (SEHK: 0016) is a listed corporation based in Hong Kong. The company is controlled by the family trust set up by Kwok Tak Seng, who founded the company.

Owners: Raymond Kwok & Thomas Kwok 45%
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#2
Sunevision (8008): Raymond Kwok & Thomas Kwok arrested by ICAC. Company announcement, 29-Mar-2012


5 things about Sun Hung Kai's Kwok brothers and Hong Kong's biggest corruption trial
PUBLISHED ON MAY 8, 2014 4:21 PM 17 14 0 0

BY ONG HWEE HWEE

Thomas and Raymond Kwok, the billionaire co-chairmen of Sun Hung Kai Properties Ltd (SHKP), Asia's largest developer, went on trial on Thursday in the biggest corruption case in Hong Kong's history.

Thomas, 62, and Raymond, 60, were accused of bribing Rafael Hui, who was Hong Kong's No. 2 official and the highest-ranking former official ever to face trial in the city.

The three have pleaded not guilty to all charges, including conspiracy to offer an advantage to a public servant.

We look at the high-profile case which has shocked Hong Kong.

What is the case about?

The Kwok brothers have been charged with a total of seven offences, including claims related to alleged payments and loans offered to Hui totalling more than HK$35 million (S$5.64 million).

Hui, 66, headed Hong Kong's civil service from 2005 to 2007 under the administration of chief executive Donald Tsang.

He stands accused of receiving financial inducements that included HK$28.8 million in cash, HK$5.4 million in loans and the rent-free use of two luxury flats in Happy Valley between 2000 and 2009.

The oldest accusations against Hui date back to 2000 when he allegedly failed to disclose negotiations with SHKP for a "consultancy agreement" while he was managing director of the Mandatory Provident Fund Schemes Authority, a government body, reported South China Morning Post. According to the prosecution, he received HK$2.4 million in unsecured loans from a company owned by SHKP.

As he rose to be chief secretary in 2005, he was allegedly bribed with millions in cash by the Kwoks in return for being "favourably disposed" to the property moguls.

SHKP executive director Thomas Chan and former Hong Kong stock exchange official Francis Kwan are also implicated in arranging a series of payments to Hui.

The Kwoks were arrested in in March 2012.

Who are the Kwok brothers?

They are the co-chairmen of SHKP, Hong Kong's biggest property developer by market capitalisation, followed by Cheung Kong (Holdings) Ltd, which is controlled by Asia's richest man Li Ka-shing. With an estimated family wealth of US$17.5 billion (S$21.8 billion), the two brothers were ranked fourth on the Forbes Hong Kong 2014 rich list.

SHKP owns some of the city's most iconic real estate including its tallest tower, the 118-floor International Commerce Centre. It also counts Hong Kong telecom, bus and waste management units as part of its empire. It has a market value of US$34 billion.

The company was founded in 1963 by family patriarch Kwok Tak-seng. Born in Zhongshan, in China's Guangdong province, he moved to Hong Kong after World War II. He partnered Mr Fung King-hey and Mr Lee Shau-kee to establish Sun Hung Kai Properties in 1958.

The Kwok brothers are known for being extremely devoted to their mother and for their evangelical Christian faith.

When was the last time the Kwoks made headlines?

The Kwoks tried to keep a low profile, but a kidnapping episode and a bitter boardroom coup within the family made headlines in Hong Kong.

When the Kwok patriarch died of a heart attack on Oct 30, 1990, at the age of 79, he left behind his wife and three sons. Eldest son Walter became chairman and chief executive of the company.

In 1997, Walter was kidnapped by a prominent gangster. It is said that his mother Kwong Siu-hing held a secret meeting with the gangster to negotiate his release and forked out HK$600 million - the biggest ransom paid in Hong Kong history. The kidnapper was caught and executed by firing squad in China in 1998.

In 2008, a bitter battle for control of the SHKP empire exploded into public view.

Thomas and Raymond, and their mother Madam Kwong, took control after claiming that Walter was mentally disturbed and unfit for duty - claims that Walter denied. Some reports claimed that the family was actually furious that Walter, a married man, had a long-running affair with a lawyer and had tried to bring her onto the board of SHKP.

Walter was ousted from the family trust and relegated to a non-executive director post. Madam Kwong took over as chairman until December 2011 when Thomas and Raymond became joint chairmen.

There is speculation that the current corruption trial may be tied to a court case filed by Walter years ago in an effort to save his job. He had claimed that he was being forcibly removed as chairman because he wanted to investigate certain matters within the company and improve its corporate governance.

Who is Rafael Hui?

He is said to be a long-time Kwok family friend and once special adviser to SHKP.

Nicknamed "king of strategy", he was seen as the most trusted aide to Chief Executive Donald Tsang, who made him the head of the civil service and Hong Kong's No.2 official, after he was elected in 2005.

The veteran civil servant was secretary for financial services from 1995 to 2000, and even worked briefly with the Independent Commission Against Corruption's graft-busters in the 1970s.

Hui has been described as the "mastermind" behind Thomas and Raymond and their mother's efforts to take control of the family's business empire - something both SHKP and Hui have denied.

Who are the lawyers defending the Kwoks?

The brothers, who have hired high-profile lawyers to defend them, could spend more than HK$100 million in legal fees, which would mark the most ever paid in the city, said media reports.

Thomas is represented by Ms Clare Montgomery, a specialist in criminal and fraud law who led the prosecution team in the extradition case to Sweden of WikiLeaks founder Julian Assange.

Mr John Kelsey-Fry, a lawyer who represented former News Corp. executive Rebekah Brooks in a phone-hacking scandal, is defending Raymond.

Hong Kong's Court of First Instance is expected to summon more than 80 witnesses during the trial, which is scheduled to run for 70 days. The list of witnesses submitted by prosecutors includes two former ministers who served alongside Hui: former housing and education minister Michael Suen and ex-commerce minister Rita Lau, said the Post.

Source: Reuters, AFP
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#3
Verdict just issued today - How coincidental to read about it and complete the case

http://www.scmp.com/news/hong-kong/artic...l-verdicts

LIVE: Rafael Hui guilty of five counts of misconduct and bribery; Thomas Kwok guilty of conspiracy
PUBLISHED : Friday, 19 December, 2014, 2:47pm
UPDATED : Friday, 19 December, 2014, 3:19pm
Stuart Lau

The jury in the biggest graft trial in Hong Kong's history has returned the long-awaited verdicts on former chief secretary Rafael Hui Si-yan and Sun Hung Kai Properties co-chairmen Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen, and two others, on the 128th day of the explosive trial that exposed family feuds in the billionaire family and the close connections between government and the business sector.



Count one: misconduct in a public office

Defendant: Rafael Hui

Details: Prosecution alleged Hui failed to disclose acceptance of a HK$2.4 million unsecured loan; rent free use of two luxury units and his negotiation of consultancy agreement with Sun Hung Kai Properties while he was managing director of the Mandatory Provident Fund Schemes Authority.

Verdict: Guilty
===============
Count two: conspiracy to commit misconduct in public office

Defendants: Rafael Hui, Thomas Kwok

Details: Prosecution alleged Hui received HK$5 million from Thomas Kwok, before he took up the No 2 government office in June 2005, without reasonable excuse, and was or remained favourably disposed to SHKP.

Verdict: Rafael Hui - Not Guilty; Thomas Kwok - Not Guilty
===============
Count three: conspiracy to commit misconduct in public office

Defendants: Rafael Hui, Raymond Kwok

Details: Prosecution alleged Hui received HK$4.125 million from Kwok, before he took up the No 2 government office in June 2005, without reasonable excuse, and was or remained favourably disposed to SHKP.

Verdict: Rafael Hui - Not Guilty; Raymond Kwok - Not Guilty
===============
Count four: furnishing false information

Defendants: Rafael Hui, Raymond Kwok

Details: Prosecution alleged the pair furnished information on an invoice dishonestly stating a HK$4.125 million bribe as a bonus.

Verdict: Rafael Hui - Not Guilty; Raymond Kwok - Not Guilty
===============
Count five: conspiracy to commit misconduct in public office

Defendants: Rafael Hui, Thomas Kwok, Raymond Kwok, Thomas Chan, Francis Kwan

Details: Prosecution alleged the Kwok brothers transferred HK$8.5 million worth of bribery payments to Rafael Hui in the months leading up to his appointment as chief secretary of Hong Kong in order for him to be Sun Hung Kai Properties' eyes and ears in government. A part of the alleged bribe was paid on the same day he took the appointment oath before chief executive Donald Tsang Yam-kuen. The bribes were allegedly funneled via SHKP executive director Thomas Chan Kui-yuen and ex-stock exchange official Francis Kwan Hung-sang.

Verdict: Raymond Kwok - Not Guilty; remaining are Guilty
===============
Count six: misconduct in public office

Defendant: Rafael Hui

Details: Prosecution allegedl Hui concealed from government the provision and annual extensions of an unsecured HK$3 million loan granted by a subsidiary of Sun Hung Kai Properties when he was chief secretary.

Verdict: Guilty
===============
Count seven: conspiracy to offer an advantage to a public servant

Rafael Hui, Thomas Kwok, Raymond Kwok, Thomas Chan, Francis Kwan

Details: Prosecution alleged Thomas Kwok and Raymond Kwok allegedly bribed Hui, a non-official member of the Executive Council, with HK$11.182 million between 2007 and 2009, for him to be or remain favourably disposed to Sun Hung Kai Properties. The alleged bribes were funnelled via Thomas Chan and Francis Kwan.

Verdict: Rafael Hui - Guilty; Raymond and Thomas Kwok - Not Guilty; Thomas Chan - Guilty; Francis Kwan - Guilty
===============
Count eight: misconduct in public office

Defendants: Rafael Hui

Details: Prosecution alleged Rafael Hui concealed from the government the HK$11.182 million worth of bribes he allegedly received from the Kwoks, Chan and Kwan between 2007 and 2009.

Verdict: Guilty
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#4
My knowledge of digging for information on HK stocks is very limited.

So far, the only site i use are

http://www.aastocks.com/tc/ltp/rtquote.a...mbol=08008
http://www.morningstar.com/invest/stocks...s-ltd.html

Stats

52-Week Range: 2.04-2.93
Yield: 4.64%
Market Cap: 5.6 bil
Forward P/E: 20.9
Price/Book: 1.7
Price/Sales: 11.5
Price/Cash Flow: 17.8

Appreciate buddies contribution
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#5
(19-12-2014, 03:40 PM)orangetea Wrote: Stats

52-Week Range: 2.04-2.93
Yield: 4.64%
Market Cap: 5.6 bil
Forward P/E: 20.9
Price/Book: 1.7
Price/Sales: 11.5
Price/Cash Flow: 17.8

Appreciate buddies contribution

The share price was sliding in the last couple of mths due to the overhang of this court case. Now that the results are out and that Raymond Kwok, the executive chairman is found not guilty, there will be a nice pop on Monday.

I don't know why people would want to invest in KDC reit when you have Sunevision that is debt free with about HK$1.2billion in cash and no need to worry about property leasing issues. The div yield by sunevision although lower then KDC is sustainable without the worry of a rights issue. Sunevision is building a big DC and will be ready by end 2015 all from internal funding.

The forward pe is actually 20 without taking into consideration mark to mkt of their properties which they do every yr. KDC is a reit and along with it comes an extra layer of external mgt whereas sunevision is majority own by the kwok family; alignment of minority interest.

vested
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#6
SuneVision adds data centre to tap growth

Bank clients stable as new internet firms boost demand for cloud computing
PUBLISHED : Monday, 10 March, 2014, 5:59am
UPDATED : Wednesday, 12 March, 2014, 5:51pm


SuneVision plans to open the first phase of its Tseung Kwan O data centre in 2017, the locally listed technology firm of Sun Hung Kai Properties said.

Peter Yan King-shun, executive director and chief executive of SuneVision, said the capital expenditure for the first phase will not exceed HK$2 billion, including land costs.

The company purchased a site on Wan Po Road in Tseung Kwan O for HK$428 million in October. The first phase represents at least 60 per cent of the gross floor area.

Yan said when phase two of the project is completed the data centre area will be "more than doubled".

The site will yield a gross floor area of 473,611 square feet, but not all of it will be usable as a data centre because some areas will be allocated for infrastructure or storage for cooling equipment. SuneVision also has data centres in Chai Wan, Kwun Tong, Sha Tin and Tsuen Wan.

Yan said growth in data centre demand from traditional enterprises, such as banks, has been stable. "The annual growth among these corporate [clients] is about 10 per cent," he said.

New technologies including cloud computing, big data and mobile internet have led to the emergence of numerous new internet companies, and the demand from these firms has been growing at 30 per cent to 40 per cent annually, according to Yan.

"We'd like to continue to focus on our core business as we see increasing demand for our data centre facilities," he said.

He said 70 per cent of the current capacity was used by big corporate users who rented space instead of renting computers.

The facilities in Tseung Kwan O will be arranged in a highly flexible way, Yan said, to cater for different demand from clients. "In our industry, markets are changing fast. We will make sure the requirement of customers is met in the shortest time."

Yan said Hong Kong is in a good position to build data centre projects because of its well-developed infrastructure and sound legal system.
This article appeared in the South China Morning Post print edition as Sunevision adds data centre to tap growth
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#7
First Quarterly Report 2014/2015
http://www.sunevision.com/administrator/...1R2015.pdf

Chief Executive Officer’s Report

OVERVIEW

SUNeVision reported its unaudited results for the first quarter of the 2014/15 financial year with a profit attributable to owners of the Company of HK$123.6 million, an increase of 12.5% over the same quarter last year. The data centre business has continued to perform well and is the key growth driver of the Group.

BUSINESS REVIEW
iAdvantage
iAdvantage has continued to invest in and upgrade its existing data centre infrastructure and facilities. The conversion of additional floors at the Sha Tin site to data centres will expand the capacity of iAdvantage in the next few years before the completion of the new high-tier data centre at Tseung Kwan O in 2017.

With the continuous growth in demand generated from Cloud application adoption, iAdvantage has been working conscientiously on the expansion of our Cloud customer base and service offerings to fulfil the demand of our enterprise users.

In spite of the increased competition, iAdvantage has sustained its market position with its strategically located data centres, high quality data centre infrastructure, proven track record and experience, various ISO certified services and a dedicated team of data centre professionals.

Super e-Technology
During the reporting period, Super e-Technology successfully secured new contracts with a combined sum of approximately HK$14 million for the installation of security and surveillance, SMATV and IT systems.

Super e-Technology maintains a positive outlook on the security and surveillance and SMATV sectors, and continues to actively pursue opportunities to expand its service offerings.

Super e-Network
Super e-Network continues to work with broadband and network service providers to improve its services and solutions. It has been actively exploring new opportunities to expand its broadband and WiFi service offerings to different sectors.
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