Word: yang
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...there's one aspect of Yang's misfortune that is not surprising at all: a Mainland private company has been embroiled in allegations of monkey business once again. Entrepreneurs like Yang?bold, flamboyant and aggressive?are heralded as the face of China's capitalist future, and fledgling private companies are viewed hopefully as a wellspring of growth and an engine of job creation to replace the country's decrepit state-owned enterprises. But they are also the product of a rapidly changing economy in which state control left over from the days of hard-line communism mingles with freewheeling capitalism...
...Whether Yang's Euro-Asia Agricultural (Holdings) has sinned remains unclear. But the company, which grows orchids and sells flower seedlings, is certainly being punished. Trading in Hong Kong-listed Euro-Asia Agricultural (Holdings) shares has been suspended since Sept. 30; the stock price had plummeted 86% since May, to less than $0.05. Since Yang's arrest, the company looks very much like it is imploding. Four top officials, including the vice-chairman, resigned in the last two weeks citing "personal reasons," according to company statements. The chief executive officer stepped down in September. The company also disclosed that...
...Yang's acquaintances and local business people in Shenyang if they are surprised by his current woes, and the answer is an emphatic "No." The cause of his fall, they claim, is most likely Holland Village, his 220-hectare re-creation of a Dutch city on the outskirts of Shenyang. Yang, who carries a Dutch passport, got hooked on Holland while studying at Leiden University there. The partly-finished development looks like a dystopian Disney World. Within its gates, which are flanked by massive golden lions, are the offices of Yang's local empire, some of which are housed...
...Questions are also being raised about the way Yang secured land for the project. In July, the Guangzhou-based newspaper Southern Weekend published a story suggesting that Yang got the go-ahead to break ground at Holland Village under false pretenses. The article said the business plan submitted to Shenyang authorities called for high-tech farming and tourism, and Yang paid a much lower price for the land than if he'd declared he intended to use it for home construction. Says a manager at one of Yang's Shenyang companies: "As far as I know, building apartments was never...
...splattered. A UBS Warburg index of 20 of these so-called "private chips" has fallen 10% since it was inaugurated in January 2001. That's far less than the 45% fall of Hong Kong's benchmark Hang Seng Index. But p-chips plunged three percentage points since the Yang scandal broke. Because of the lack of transparency and secrecy among Mainland companies, "it is quite difficult to sort out which are the reliable ones and which are the crooks," says Willis Ting, executive director of Tai Fook Capital, a Hong Kong merchant bank...