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Article Abstract:
Hong Kong's Commercial Crimes Bureau raided the offices of the Allied Group of companies on Sep 15, 1993. Three days later, the government published an edited version of the bureau's report on the group, citing over 100 questionable transactions that took place over a two year period. The legal and regulatory implications of the violations were edited from the report, leading some to suggest that the government may seek criminal charges. Most of the questionable transactions dealt with unsecured loans to related companies, fictitious transactions, illegal takeovers and inflation of stock values.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Interesting read
Article Abstract:
Hongkong's Allied Group of companies, currently under investigation for questionable financial dealings, published its annual report on Jun 7, 1993. The report illuminates the arrangements that prompted the continuing inquiry into Lee Ming Tee's $5.2 million Allied Group. In 1990-93 Allied conducted considerable business with two financial companies, Prudential Securities Investment Fund and First South China Bank. The report suggests that Allied Group's directors were unaware of the strange transactions occurring between these three companies.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Thicker than blood: did greed and negligence infect HIV carriers?
Article Abstract:
Lawsuits brought by Japanese hemophiliacs against five drug companies and the Ministry of Health and Welfare illustrates the power of the nation's bureaucracy and the weaknesses of its legal system. Some 1800 of the country's 5000 hemophiliacs have contracted HIV, due in part, they say, to government delays in approving preventive measures. On Oct 6, 1995, the Tokyo and Osaka District Courts suggested a compromise settlement, for far less money than the plaintiffs sought. They may accept, but also want a government apology.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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