Often Partisan

OP in Hong Kong – Day 2 – BIH

In the last 18 months have been eventful for Birmingham International Holdings. Following the removal of Peter Pannu as CEO and MD, the company underwent seismic changes that eventually brought about the appointment of Receivers and potentially the end of the Carson era. Are we close to seeing the next change as the receivers move on and a new board comes in?

Former Birmingham International Holdings offices in Wan Chai

One of the most stark changes to Birmingham International Holdings is the offices for the company. When I visited last time, they were in the Harbour Centre in Wan Chai (not far from the infamous girlie bars), with a large gold logo welcoming visitors. I didn’t get very far back then in trying to visit – and I didn’t expect to this time.

Birmingham International Holdings headquarters in Sheung Wan

The new office is behind this unassuming door in the Wing On Centre in Sheung Wan. Gone are the days where three receptionists would sit behind a huge desk to greet visitors; now it’s just a doorbell and a type-written piece of paper above the door to let people know they’re in the right place.

Wing On Centre, Sheung Wan

The BIH staff make no bones about it. This office is merely a back-office for the company; I suspect it’s probable that more work goes on here than in the old offices but it’s still very much just paperwork and meeting rooms there. I think with the appointment of Ernst and Young the pretence that there was any other kind of important business going on has disappeared and subsequently administration costs have been slashed.

Attitudes have changed too. Previous visits to the offices have been met with polite silence and lack of comprehension; this time not only was I invited in to the office but they actually knew who I was – which I have to admit is a little bit surreal.

As I suspected, the Receivers (Stephen Liu Yiu Keung, David Yen Ching Wai and Koo Chi Sum) work from the Ernst and Young offices over in Central and as such weren’t at the BIH offices to talk to but my details were taken and I’m hopeful of speaking to David Yen in the next few days.

I suspect the EGM is going to be announced in the next week anyway – particularly if they want to get it done by the end of May, which is the timeframe I have heard mentioned in the last few weeks. Once the EGM is held and the shares are relisted EY will move on, and the next chapter in the BIH saga will begin.

This trip wouldn’t have happened without the support of Blues fans including: Richard Wildsmith, “Eudyptula”, David Pugh, Art Watson, Roger Hooper, Gordon Fletcher, Gary Loveridge, Michael Hancox, G Miles, Neil Pouney, the Blues Trust, Blues Middle East, PJ Planning, Open Tax Services and many others.

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31 Responses to “OP in Hong Kong – Day 2 – BIH”

  • Cheers says:

    Cheers Daniel, all we can do is sit back and hope this happens, fingers crossed the shares are picked up by reputable people, who even if they aren’t interested in taking us forward, will sell us on to someone who can.

  • Walker says:

    So basically nothing has been learnt so far.

  • Quokkasskip says:

    Good luck.

    Any nuggets of news would be a bonus

  • Royalblue says:

    Thanks Dan. It would be very interesting to hear what David Yen has to say and hopefully you get a chance to meet him. Good to hear that you were welcomed in at the BIH office and it reflects how things have changed in that you were recognised. I suspect hard facts may prove difficult to obtain given the confidentially surrounding the business culture out there but anything you can find out will be more than welcome. Good luck.

    • DoctorD says:

      Good comment. Even if information isn’t forthcoming, it can often be the case that what they *don’t* say reveals as much as what they do. Make sure you have plenty of “open” questions Dan.

  • ChrisG says:

    Well Dan with a bit of luck you might get answers to some of your questions this time. What does bug me though is, if they are willing to talk to you why couldn’t they just have given an informative statement to Panos to read out?. Or maybe they will just give you a confidential interview which will be no good to the rest of us.

    • zxcv says:

      ChrisG are you forgetting the people running BIHL have no obligation to supporters, Their concerns and responsibility’s are to the Share holders only and to that end they have a monthly information update, announced at the end of each month. This is available for you as bcfc supporter via HKSE.

  • Walker says:

    I haven’t been sent to Hong Kong have I touchy.

  • Margaret says:

    Sounds like a good start to your investigations.

  • Art says:

    Just keep probing Dan.

    And good luck.

  • Steve says:

    When does this “due dilligence” timespan of 2 yrs. Run out? Must be soon now ,and wont TTA have to say something of their intentions then ? All seems sketchy still to me. Things need to move quicker now surely.

    • almajir says:

      a) it’s not “due diligence”, it’s a period of exclusivity.
      b) it was announced in June 2015 – so two years on from that gives you an expiry of June 2017…

  • Richieblue says:

    Can’t we send a battalion of Zulus over I’m sure they will get some answers

  • Jaffa says:

    Good on you Dan.Your persistence just might payoff.

  • Jaffa says:

    Ps.If you see that twat Pannu kick him in the bollocks for me.

    • AlexT says:

      sod that! I would stay well clear, Pannu looks bloody tasty….. I know where i would put my money if they came to blows! Sorry Dan! ;-)

  • Lichblue says:

    Good luck Dan. Be nice to hear something concrete from you over the next few days.

  • TonyD says:

    I spent nine months in the Wing On Centre learning Cantonese. If EY are about to hand over to a new board, we should learn something from who is elected to the new board. Good luck with your digging Dan.

  • Andy says:

    Keep up the good work Dan.

    P.S. If you have any downtime, give Tipping Point on Wyndham Road a try.

  • Mitchell says:

    As much as we feel for Daniel in his lonesome quest, would it be sensible to both lean on Panos for a little support and much needed input in this quagmire of an environment. Panos has to have considerable knowledge of current events without going over the top with delicate information.

    • steve says:

      I would have thought TTA would tell Panos what he can and can’t say. And to be honest if it isn’t delicate information then it probably wouldn’t be worth listening to.

  • ZR says:

    are you going to visit Carson with a big cake ?

    • almajir says:

      No. I’m going to assume ths is a reference to him being in prison… which he’s not.

  • mark says:

    so daniel what like being a superstar in HK………….any autograph hunters….

  • Bluey says:

    I think it`s time for a fans` buyout of the club.I`m prepared to be treasurer and keeper of funds so if you could all send me as much dosh as you can and bank details to my Caymen Island Holding Account i`ll set the wheels in motion.

    • almajir says:

      If you could spell Cayman Islands you might have more luck ;)

      • Bluey says:

        You`re thinking of a different set of islands Dan. My account is in the ones just off the Isle of Wight. My latest estimate is that i`m about £32m short of buying the club.

  • Bluey says:

    Not sure why that got sent twice but anyway don`t forget….money to me asap.

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