Hong Kong's sky-high mansion Check-out mystery: Warren Shau was questioned by the city

Guo Xingyan the public expected today to stage the drama of Shau, the chairman of the major property developers and Henderson Property (00012.HK), to be besieged by legislative councillors of the Hong Kong Special Administrative Region.　　Henderson Real Estate (hereinafter "Heng") issued a statement July 8, refused to accept the invitation of the Legislative Council, decided not to send any representatives to attend the Legislative Council on its property "Tin Wui" related transactions convened by the special meeting.　　On July 5, at a special meeting of the Legislative Council panel on housing on "Tin Wui", the Secretary for Transport and Housing of the Hong Kong Special Administrative Region, Ms Eva Cheng, said to the media, including the first financial daily, that a number of law enforcement departments, including the Hong Kong police, had conducted investigations into the "tin "The government's stance has been very clear and it cannot accept that developers are ' faking ' the sale process," he said.　　Ms Cheng said that if the developer's answer was not the whole truth, the police would investigate the matter in detail and solve the puzzle.　　From the world's most expensive apartments to the Hong Kong Media and Legislative Council members, and then to become the Hong Kong police and law enforcement agencies to investigate the target, the constant development of the mansion apartment "Tian Hui", in eight months from the sky fell from the van, is still shrouded in fog. Buyer identity is always a mystery story protagonist--mid-levels of Hong Kong Island stratified luxury "day sinks", in October last year, set a price of HK $71,300 per square foot, that is, about 627,400 yuan per sq m of the world's sky-high record.　　This record was created by room A on the 68 floor of "tin Wui" and the total price of the apartment was about HK $439 million. But eight months later, the record was nowhere to be.　　Heng Land announced June 16 this year, "Tian Hui" 24 of the contracted apartments, including 68 floor a room in 20 apartments, all to cancel the transaction ended. Under the terms of the agreement on sale and purchase, the deposit of 20 apartments which cancel the transaction is confiscated, that is, the rate of 5% total HK $133 million.　　The 20 transactions were eventually cancelled, bringing the losses to Henderson at about HK $734 million.　　The outside world is questioning this as a bogus deal created by the constant build-up of momentum. Last November, this newspaper reported that "Tin Wui" luxury buyers deliberately remain mysterious.　　The registration data of the Hong Kong Land Registry show that 24 Hong Kong local companies have registered to buy 24 flats in Tin Wui, but these Hong Kong local limited are held by 4 overseas firms registered with the British Virgin Islands. Of these, the 68 floor of the global record Creator, Room A, is held by a Hong Kong registered company named "Finance Limited" with a registered capital of HK $1.　　The company's corporate director, ready-made incorporation LIMITED, registered in the British Virgin Islands, has no way of verifying the true identity of individual directors. Memorable is, at that time, Heng Lindamin, general manager of the sales to the media revealed that the buyer is a strong Mandarin accent, may be the mainland super-rich. In fact, last year Hong Kong Island's mid-levels luxury property prices soared 42%, mainland buyers extravagantly buy luxury flats news. Lindamin's "unintentional" revealed that with the cityThe scene seems quite consistent. Hong Kong media have found that the $1.16 billion purchase of 6 "Tin Wui" apartments, including the most expensive apartments, is the 42-year-old Hong Kong people, former Metro radio DJ, Cash Valley Technology President Qin Shanwen.　　Qin Shanwen also served as "Fu II" as the main deputy chairman of the Hong Kong Youth Association, he admitted to buy "tin Wui" 6 apartments, but said it is a joint venture with others, the formation of "Tian Hui investment Team", and refers to many mainland spender interested in buying sky-high apartments. Shau said, Qin Shanwen is only the buyer authorized as the signing representative. Meanwhile, there are reports that the real overseas buyers are Vietnamese overseas Chinese Zhuliki, and Zhuliki refused to respond.　　June 1 This year, Shau publicly said to the media: "Tin hui" buyers are a rich, is a foreign rich, not the mainland is not Hong Kong, June 16 can solve the mystery.　　However, June 16 opened, but the "sky sinks" finally only 4 apartments deal, 20 sets of cancellation of the deal, Qin Shanwen and its "Tian Hui investment team" purchased 6 apartments are not a deal, 5% deposit was constantly confiscated after leaving the field, the buyer's true identity will eventually become a mystery. To treat the buyer for which pile according to the Hong Kong real estate market practice, if the buyer cancels the transaction, the developer in addition to confiscate the deposit, if the heavy price is lower than the cancellation of the sale price of the transaction, developers have the right to cancel the transaction of the buyer to recover the difference. And this constant announcement, only confiscated 5% deposit does not pursue the difference.　　This is one of the reasons for the suspicion that there is a special relationship with buyers. In a statement of June 30 this year, Heng explained that the 20 buyers of unsold flats were registered as HK $1, so it would be meaningless to conduct legal proceedings. Heng said, I believe that the apartment resale price will not be lower than the cancellation of the transaction price.　　Shau also early in the cancellation of trading on the day stressed that there will be no sale of "Tin Wui" mansion. Since the record of the world's most expensive apartments last October, the government of the Hong Kong Special Administrative Region has significantly strengthened its control over luxury homes.　　On October 25 last year, the Hong Kong HKMA announced that the ceiling on mortgages for luxury homes over HK $20 million would be reduced from 70% to 60%.　　From March 18 to June 28 this year, the Hong Kong Lands Department issued a letter to the permanent land seven times to inquire about the trading situation of "tin Wui" and to submit a written reply to the Legislative Council on July 5 and seven times. On July 5, Hong Kong Legislative Council member James to told reporters including this newspaper that the main questions raised by the Lands Department on the "Tin Wui" deal, including the seven communications, include: 24 apartments need to be postponed, only verbal agreement, and delay time is ambiguous; 24 apartment buyers,　　The same authorized representative has indicated to the permanent that the transaction has been postponed, and the buyer has not been shown to the purchaser that the delay will result in the loss of the right to receive interest. What puzzled the government most, however, was that 20 of the apartments that had been canceled were 18 of the buyers who had already paid 10% of the house price as a deposit, and 2 of them had paid 15% of the house price as a deposit. Henderson only confiscated 5% deposits., return the other money to the buyer and promise not to collect the difference. "Do you think money is smelly?"　　Mr To questioned why the buyers were treated so well. Some senior property speculators have pointed out that professional speculators usually use their lawyers in trading.　　However, in the "Tin Wui" transaction, all buyers use the Heng Lowenjin lawyer, the law firm, it is doubtful that the relationship between buyers and sellers closely.　　A fake deal makes a high share price? Hong Kong people, the media and the SAR government are sceptical about the "Shau" trade, said the "Four uncle" in the early March this year declared: Hundred guaranteed "Tian Hui" does not involve a false deal, the buyer is "outsiders", not the company associated people. Hobbies to provide investors with public investment advice Shau, or even out of the gambling disk, refers to if found to be false deal, will be "10,000 to compensate 1 million".　　The reporter learned that there were good people who sent 10,000 Hong Kong dollars to Shau but were returned intact. It is worth mentioning that, as a listed company, the permanent land of 24 transactions has been estimated to be over HK $3 billion at the end of last year, to be included in the 2009 Annual report. Heng said that the practice was based on Hong Kong's financial reporting Standards and Hong Kong GAAP and fully disclosed in the annual report the possible losses arising from the failure to complete the transaction.　　At the same time, the loss of HK $734 million from the cancellation of the transaction will be deducted from this year's half-year tie. Legislative Council members, Mr Albert Ho, Mr Lee Wing-tat proposed to the Hong Kong Securities and Futures Commission (hereinafter referred to as "the SFC") that, in the case of the sale of "Tin Wui", he was suspected of disclosing false or misleading information on property transactions, thereby affecting the stock price of shares in the Securities and Futures Ordinance No. 277-　　Disclosing false or misleading information to induce a transaction. During the two months of September and October last year, the share price rose from HK $45.55 on August 31 to HK $55.85 on October 30, with a cumulative increase of 23% per cent over the cumulative increase of similar major property stocks. Over the same period, the cumulative increase of Sun Hung Kai Property (00016.HK) was 14.1%, and the cumulative increase of Cheung Kong (00001.HK) was 9.08%.　　At that time, constant-price increases were also higher than the cumulative increase of the Hang Seng index of 10.28%.　　After the cancellation of the "Tin Wui" apartment, the shares of Heng di fell by about 15% from the high end of October last year, closing at HK $47.2 July 9. Two legislators urged the SFC to intervene in the investigation. A Hong Kong independent financial commentator pointed out that many of the building transactions in mid-levels in Hong Kong are similar to the "Tin Wui" deal. Mr Wheatley, chief executive of the SFC, said he did not comment on individual incidents.