Click below for PDF version of my compilation (INCLUDES MAY 2002 Case Updates):
http://www.badongo.com/file/1213213
http://www.badongo.com/file/1213219
http://www.badongo.com/file/1213213
http://www.badongo.com/file/1213219
The Carrian Group case in HK
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By tht time it happened i still in my father's balls....wish to noe more bout this case...
so...George Tan is Malaysian or Singaporean?
since there is a part tht hk drama use this case a show....i think if there is movie bout this case...it will be very interesting and infomative..
so...George Tan is Malaysian or Singaporean?
since there is a part tht hk drama use this case a show....i think if there is movie bout this case...it will be very interesting and infomative..
THE FINAL CONCLUSION FOR THOSE WHO DONT WANT READ!
The Carrian Group was a Hong Kong conglomerate founded by George Tan, a Singaporean Civil Engineer working in Hong Kong as a project manager for a land development company. The Group's principal holding company Carrian Holdings, Ltd. was founded in 1977.
In January 1980, the group, through a 75% owned subsidiary, purchased Gammon House (a commercial Office building, now Bank of America Tower) in Central District, Hong Kong for $998 Mln. It grabbed the limelight in April 1980 when it announced the sale of Gammon House for a staggering HK$1.68 Bln, a price that surprised Hong Kong's Property and Financial markets and developed public interest in Carrian.
In the same year, Carrian capitalized on its notoriety by acquiring a publicly listed Hong Kong company, renaming it Carrian Investments Ltd., and using it as a vehicle to raise funds from the financial markets.
The group grew rapidly in the early 1980s to include properties in Malaysia, Thailand, Singapore, Philippines, Japan, and the United States. At its peak, the Carrian Group owned businesses in Real Estate, Finance, Shipping, Insurance (China Insurance Underwriters Ltd), Hotels, Catering and Transportation (A Taxi fleet that was the largest ever in Hong Kong).
Following allegations of accounting fraud, a murder of a bank auditor, and the suicide of the firm's adviser, the Carrian Group collapsed in 1983, the largest bankruptcy in Hong Kong.
Of the group's numerous businesses, only the Carriana Restaurant remains
TIME LINE HISTORY:
The Carrian Group was a Hong Kong conglomerate founded by George Tan, a Singaporean Civil Engineer working in Hong Kong as a project manager for a land development company. The Group's principal holding company Carrian Holdings, Ltd. was founded in 1977.
In January 1980, the group, through a 75% owned subsidiary, purchased Gammon House (a commercial Office building, now Bank of America Tower) in Central District, Hong Kong for $998 Mln. It grabbed the limelight in April 1980 when it announced the sale of Gammon House for a staggering HK$1.68 Bln, a price that surprised Hong Kong's Property and Financial markets and developed public interest in Carrian.
In the same year, Carrian capitalized on its notoriety by acquiring a publicly listed Hong Kong company, renaming it Carrian Investments Ltd., and using it as a vehicle to raise funds from the financial markets.
The group grew rapidly in the early 1980s to include properties in Malaysia, Thailand, Singapore, Philippines, Japan, and the United States. At its peak, the Carrian Group owned businesses in Real Estate, Finance, Shipping, Insurance (China Insurance Underwriters Ltd), Hotels, Catering and Transportation (A Taxi fleet that was the largest ever in Hong Kong).
Following allegations of accounting fraud, a murder of a bank auditor, and the suicide of the firm's adviser, the Carrian Group collapsed in 1983, the largest bankruptcy in Hong Kong.
Of the group's numerous businesses, only the Carriana Restaurant remains
TIME LINE HISTORY:
But George Tan was born in malaysia. There was scene in movie reflecting this incident....if not mistaken you will find there is one episode of HK movie "Ku Wat Chai" aka The Young and Dangerous showing the datuk murdered an auditor from msia, thats something reflecting this incident.
George is a very influencing man in HK and Msia...he managed to walk away without much problem after this incident...thats really amazing...
many issues left unsolved, for example the judge who set him free was killed in an accident which the media regarded as "mysterious" and the law consultant of carrian group suicided in the swimming pool....for that kind of corruption charges it wouldnt worth him to end his life, becasue it will just a few years behind the bars and he can walk away with tons of money after released from jail....so it doesnt convincing for him to suicide...
Although its very dramatic but i dont think any people dare to make it into a movie, afterall the men behind this tragedy are very influencing in HK and msia. Also its a very ironic history in HK governement as they did not manage to get the satisfactory answer to the people who went bankgrupt for carrian shares....
George is a very influencing man in HK and Msia...he managed to walk away without much problem after this incident...thats really amazing...
many issues left unsolved, for example the judge who set him free was killed in an accident which the media regarded as "mysterious" and the law consultant of carrian group suicided in the swimming pool....for that kind of corruption charges it wouldnt worth him to end his life, becasue it will just a few years behind the bars and he can walk away with tons of money after released from jail....so it doesnt convincing for him to suicide...
Although its very dramatic but i dont think any people dare to make it into a movie, afterall the men behind this tragedy are very influencing in HK and msia. Also its a very ironic history in HK governement as they did not manage to get the satisfactory answer to the people who went bankgrupt for carrian shares....
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This matter also involved some of big-shots and "mafia" kinda community in HK. No one dares.
Case closed....
Case closed....
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