Often Partisan

BIH Secure Loan Investment

This afternoon Birmingham International Holdings announced that they had secured a loan of 20million HKD (around £1.7mil) with a company called U-Continent Holdings Ltd.

The announcement confirms that the loan, which was facilitated by Victor Ma Shui-Cheong, brother-in-law of Carson Yeung, is to be repaid by 25 July 2014 and attracts an interest rate of 0.5% per month. Mr Ma will be paid a finder’s fee of HKD600,000 (around £50,000) for facilitating the loan via his company Splux.

Interestingly, Splux is also the name of a magazine launched by Carson’s wife Joanna Wang back in 2011. Whether that is coincidence I have no idea.


61 Responses to “BIH Secure Loan Investment”

  • chatts-blue says:

    Does this give us the right to cancel his contract? if found guilty of course!

  • B25dave says:

    Daniel is this to provide liquidity re compliance with HKSE conditions for resumption of Trading in your opinion ?

  • Chris says:

    Its a very sorry state of affairs when such a company including a football club has to go begging for a secured loan of just £1.7m…..to what is this loan secured on and what is it to pay for…

    BIH are in a worse state than we can imagine

  • Brian king says:

    What’s going on, the amount doesn’t seem to be that much in terms of a championship club. Are things that bad, is it just to keep the club going on a day to day basis and how will he pay it back he may be in the nick.

  • Chris says:

    So this loan is not to prop up a failing company it is more to do with a shares issue….

    • almajir says:

      It says in the announcement it’s to sort liquidity. That to me says they need money desperately and they’ve borrowed it at a high rate… sounds pretty desperate to me

      • Bluenosesol says:

        So we’ve consumed the monies from Redmond and Davies, Season Tickets, Corporate and other source already??!!

        • Masaccio says:

          That money goes to keep the club afloat and pay expenses

          • almajir says:

            I don’t think it will go to the club

          • Pete says:

            Dan- you are always the first to state people must be careful what we say. Also, you freely admit to having sources which you keep confidential. Could I ask you what makes you feel that it is now the right time to state you dont think monies will be going to the club?

  • Chris says:

    OK this seem to be an other way of diverting money from the club over a period of time….To there shady inner circle…

  • Murph says:

    Just a rumour or maybe more but a certain mr eclestone may be down the line of buying us very soon , qpr connections and to get rid of some tax , just a rumour tho.

  • Chris says:

    Yes it dose dan company is in the Loo mate….

  • Pete says:

    So we are now paying interest rates of £8,500 per month in interest and £60k to is brother in law for lending him the money….This might see us until Christmas, but I would not think much longer. However, I cant image a loan being taken out if a sale was in the pipeline any time soon…. My concern is when the £1.7m needs repaying- how will it be done? There is nobody left to sell. So how will this be done, unless Yeung is planning on this covering until a verdict comes in and frees up cash (which I would be amazed if he were want to put into Blues after everything and the diminshment of his assets since trial).

  • Chris says:

    Sorry guys but BCFC is just a cash cow now….to save his sorry ass

  • Bluesbot says:

    I see the money is for BIHL and not for BCFC, might be so they can show HSKE that they have capital to resume trading, however this isnt the first time they have borrowed at a high rate of interest or for return of shares so cannot see them lasting much longer without any real source of income.

  • Gary R says:


    Trying to work out whether this is a good thing or bad thing – Good thing: They’re making efforts, though in a strange way, to get re-listed on the HKSE (though obviously this isn’t necessary to be sold), Bad thing: They’re getting more desperate with the money, hence the really small amount that’s been loaned…CONCLUSION: BIHL will have to sell the club sooner rather than later, or risk losing the lot. ULTIMATE CONCLUSION: This situation can’t run on for too much longer as the situation is deteriorating by the day?

  • Andy says:

    Is there any way of finding out who is behind this copmpany? I tried to Google “U-Continent Holdings Ltd.” and there’s no mention of them anywhere on the web before today.

  • Benno says:

    Sorry, have to take issue. 0.5% per month (using “simple” maths, say 6% p.a.) is NOT a high rate loan, in fact it is pretty competitive at the moment.

  • ALAN DAWSON says:

    The final days are looming , and fingers crossed better times ahead.

    • Gary R says:

      Alan – Sorry, but how do you make that out? As far as I’m concerned, by the sounds of comments and analysis I’ve read, all it does it prolong the agony further. It gives BIHL more time financially. They’re taking measures to step away from the edge, not fall off the end of it.

      • chris says:

        (Not the Other Chris)
        I would agree Gaz, for me it may stave off any sale of the club till next summer.
        They’ve got the money in for the club to get through to Jan or maybe next summer by selling Davies & Redmond, only they know for sure.
        Plus now they have enough money for BIHL for maybe another year as well.

  • Kaje says:

    The loan is for BIH’s working capital purposes and will improve liquidity. It’s also payable over 12 months. 0.5% monthly rate on £1.7m makes it around £1.8m repayable – it’s not that huge to be honest and certainly nothing to worry about.


    • Gary R says:

      Kaje – When people see this kind of story, all they want to know is how it relates to a takeover…and as far as I have gleaned, it only pushes a takeover further away from us the fans. I think that’s what we’re all worried about, not so much about amounts of money/interest rates in loans…

      • Kaje says:

        I can’t see how this pushes a takeover further away. BIH can’t continue to trade if it’s not solvent – it’s taken a loan to stay solvent for the time being, thus giving BIH more breathing space whilst any negotiations are carried out with interesting parties.

        I genuinely do not believe that this loan has ANY negative effect on a takeover.

        • chris says:

          It may get BIHL through till Jan when they can sell another player and divert those funds to BIHL to whom WE OWE MONEY to the tune of around £6 million.

  • Ray says:

    Any news on Blues Trust succeeding in getting Saint Andrews listed as a community asset? I believe we are due a decision this month. Man U trust won the right to have Old Trafford listed yesterday I think.

  • JohnBond says:

    It only gets worse shame Carson hasn’t been sent down yet.. Keep right on!! Zigic f***** off before the club ends up like Luton town

    • Kaje says:

      Another cretin blaming Zigic…*sigh*

      • chas says:

        Kaje, I have been thinking of an answer like that for a couple of hours, well done .

      • chris says:

        no one’s blaming him but you can’t ignore the fact we have a player on circa £72 k a week and all the new guys are reportedly on £10k or less.
        Add King, Ambrose, Lovenkrands and Mullins and your probably talking about six or seven million which without these wages the club would not have to have sold Redmond and maybe Davies even on his high wage.
        We are selling players just to pay Zigic’s wages, if your happy with that fine, but some of us aren’t.

        • Euston 9.18 says:

          You can’t blame Zigic all players would do the same.
          Read it was pp & cy buy not mac judas intended buy.

          Read Zigic is already looking to leave,applying for a British passport so he can pocket his bosman.

        • RUPERT says:

          We are selling players to keep a terribly badly run business afloat. That business has been run by amateurs who look as though they will stop at nothing to hang onto this club destroying them in the process.

          comment edited

  • Mikey J says:

    Lets hope we see the last of carson and his crew very soon. In a way, although we have lost Butland and Redmond which is a big blow, Blues have got the perfect wage structure with young and hungry players.
    Does anyone know how having the fans own part of the club works?

  • Tony says:

    My concern is if/when BIH sell the club what have they got left – zilch. So how can they possibly sell the club and still satisfy the demands of the HKSE?

  • quokkasskip says:

    This gives the BIHL board more qudos when trying to sell the club.

    A club with limited cashflow issues is better than one with no money…..

    It says to me that they are still clinging on and want their money back, ie circa £40m which is never going to happen.

    Roll on next summer a takeover

    • chris says:

      I think there will only be a takeover when we have paid all our debts back to Yeung and BIHL, so then any proceeds from the sale of the club will be 100% owned by the shareholders, i.e. there will be no debts to come from the sale proceeeds.

  • RichardM says:

    Did anyone see the excellent program on BBC1 last night – “The Fall and Rise of Swansea City” – which followed the Swans over the past 30 years , and in particular the last 15 when they were broke and on the verge of getting relegated from the league before the club was sold for £1 to a supporters consortium.

    Not saying that will ever happen at Blues – but just goes to prove, where their’s a will their’s a way – we all need to join the Blues Trust asap!!

  • Tony says:

    Makes me wonder if there is anyone in HK who operates with transparency and decency, the whole thing is just desperate ploy to hang on a little longer.

  • mark says:

    Sorry to continue the same discussion but would any of us let 81 mil go down the plug hole. So the matter stay the same pp and carson stay water tight……….

    • KeepRightcroydOn says:

      Yes, but CY has lost touch with reality. He wants to recover his investment, but the longer he clings on the value of the club declines. He can’t see that. The term ‘cutting one’s losses’ does not register with him.

      As for PP he definately has not lost touch with reality. The longer the club stays under CY’s ownership, the more money PP earns. Definatey in PP’s interest to delay any sale.

      • StaffsBlue says:

        “The term ‘cutting one’s losses’ does not register with him.”

        The term ‘cutting one’s nose off to spite one’s face’ is more appropriate methinks!

  • fletch says:

    lets start a buy a player scheme like we had in the 1980,s at least lee clark could move a little

    • Pete says:

      Love the sentiment. However, it is clear that, as Dan said, Blues fans are a fickle bunch and really do not do a fat lot. Look at the evidence of crowds and lack of co-ordinated action. Hell even the local media have been useless!

  • Dodger says:

    It can’t go on for much longer if Carson is borrowing such small amounts at such high rates of interest then he must have too sell or risk losing the lot?
    Its one thing being re listed but surely the shares will be worth nothing??
    Anyway roll on Saturday a cant wait K.R.O.

  • JohnBond says:

    Call me a “sigh” for blaming Zigic.. Your a nonce so it don’t bother me mate, at the end of the day it’s night and Zigic is taking the pee.. Hope we don’t sign anyone else like him ever again

    • david says:

      That my friends is what you are up against, a small minded fan who has no idea, doesn’t help the club one bit. Sitting in his armchair watching the results come in on free view & thinks one player is to blame for the state of a multi million pound company.

  • Bluebird says:

    “with a company called U-Continent Holdings Ltd” ~
    More like a Company called “Incontinent Holdings” ~
    But then again they never “splash out” do they~8)

  • Applebob says:

    Isn’t a Suplex a wrestling moved? Are the board going to end up getting slammed on this?

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