Keith Wyness

[dorsetvillian]

We talked a number of times last season, on one of the many long away trips, about footy grounds we hadn't visited in Div 1 and 2. With the way things are looking, we might now get the chance. Silver Lining and all that!

[john e]

it's just a pity those lads at TBAR aren't still up and running

they would have predicted all this and given us the heads up especially that admin fella he'd have known what was going on and no mistake

[chrisw1]

it's just a pity those lads at TBAR aren't still up and running

they would have predicted all this and given us the heads up especially that admin fella he'd have known what was going on and no mistake

They're still going, I've just checked.  No sign of Admin though.  Well, there is, but not the god like fella who knew it all.

[Risso]

I got an update email from them this morning.  They didn't have my permission to do so, think I'll grass them up to the GDPR police.

[Sexual Ealing]

I got an update email from them this morning.  They didn't have my permission to do so, think I'll grass them up to the GDPR police.

This is taking the worst possible tangent imaginable, but my understanding is that GDPR is about transparency rather than consent!

[Drummond]

Some of their folks have been on here, so I'm guessing not much happening over there.

[Legion]

it's just a pity those lads at TBAR aren't still up and running

they would have predicted all this and given us the heads up especially that admin fella he'd have known what was going on and no mistake

They're still going, I've just checked.  No sign of Admin though.  Well, there is, but not the god like fella who knew it all.

Probably because Troy spends most of his time on here under new aliases.

[Pat McMahon]

Been thinking about this a bit.  These capital controls in China haven't just happened in the last week, so when the auditors were considering the Going Concern issue for the last set of accounts, they would have had to have satisfied themselves that Xia had the ability to support the club.  That means having the cash and also the ability to ACCESS that cash.  It's looking like another Carillion situation, whereby the audit report isn't worth the paper it's printed on.

Risso, that could possibly have fallen down on the Chinese documents / certificates / guarantees.

I would presume that Deloittes have done their job correctly but  they may have received assurances from Chinese institutions that money and access to money were in place. I wouldn't exactly faint with surprise if those guarantees were slightly less than concrete, or if circumstances have changed since they were made. As an aside, we have a small office in Shanghai with 3 staff and since the last Party congress when Xi became all powerful there is a noticeable increase in enforcement of previously ignored regulations. Things that used to get by thanks to contacts and relationships are now being blocked.

There are many stories of Chinese companies floating on the Hong Kong stock exchange (or international companies including a valuation of their Chinese activities for their flotation)  only to find later that some of the checks and balances were less than 100% genuine.

[PeterWithe]

Seeing talk that we are desperately tryng to sell the car park on Marsh Lane.

Good job we avoided those asset strippers who were trying to buy as last time.

[wittonwarrior]

We talked a number of times last season, on one of the many long away trips, about footy grounds we hadn't visited in Div 1 and 2. With the way things are looking, we might now get the chance. Silver Lining and all that!

Unfortunately given my age and era have seen the  Villa at most grounds so even  that aspect does not even raise a smile.

[AlexAlexCropley]

Been thinking about this a bit.  These capital controls in China haven't just happened in the last week, so when the auditors were considering the Going Concern issue for the last set of accounts, they would have had to have satisfied themselves that Xia had the ability to support the club.  That means having the cash and also the ability to ACCESS that cash.  It's looking like another Carillion situation, whereby the audit report isn't worth the paper it's printed on.

Risso, that could possibly have fallen down on the Chinese documents / certificates / guarantees.

I would presume that Deloittes have done their job correctly but  they may have received assurances from Chinese institutions that money and access to money were in place. I wouldn't exactly faint with surprise if those guarantees were slightly less than concrete, or if circumstances have changed since they were made. As an aside, we have a small office in Shanghai with 3 staff and since the last Party congress when Xi became all powerful there is a noticeable increase in enforcement of previously ignored regulations. Things that used to get by thanks to contacts and relationships are now being blocked.

There are many stories of Chinese companies floating on the Hong Kong stock exchange (or international companies including a valuation of their Chinese activities for their flotation)  only to find later that some of the checks and balances were less than 100% genuine.

So ,if your office had wind of this,then surely Tony and Ho were privy too.From last October?
Which makes the current state of affairs look worse.

[Pat McMahon]

Been thinking about this a bit.  These capital controls in China haven't just happened in the last week, so when the auditors were considering the Going Concern issue for the last set of accounts, they would have had to have satisfied themselves that Xia had the ability to support the club.  That means having the cash and also the ability to ACCESS that cash.  It's looking like another Carillion situation, whereby the audit report isn't worth the paper it's printed on.

Risso, that could possibly have fallen down on the Chinese documents / certificates / guarantees.

I would presume that Deloittes have done their job correctly but  they may have received assurances from Chinese institutions that money and access to money were in place. I wouldn't exactly faint with surprise if those guarantees were slightly less than concrete, or if circumstances have changed since they were made. As an aside, we have a small office in Shanghai with 3 staff and since the last Party congress when Xi became all powerful there is a noticeable increase in enforcement of previously ignored regulations. Things that used to get by thanks to contacts and relationships are now being blocked.

There are many stories of Chinese companies floating on the Hong Kong stock exchange (or international companies including a valuation of their Chinese activities for their flotation)  only to find later that some of the checks and balances were less than 100% genuine.

So ,if your office had wind of this,then surely Tony and Ho were privy too.From last October?
Which makes the current state of affairs look worse.

Funnily enough I only found out yesterday that our Chinese national insurance payments are rising 3.5% - our man out there discovered this earlier the same day. That is just an example but there are more of rules being enforced more rigorously.

The Chinese have a saying "The mountains are high and the Emperor is far away",  basically meaning out of sight out of mind. Traditionally companies in Beijing have to toe the line - being close to the Party HQ there was no wiggle room. In Shanghai people would tell you the rules then point out that for a fee a compromise solution could be found. As Xi's grip tightens on power there are fewer options to bend the rules in the areas he is interested in.

Which is probably not good for Tony Xia.

[AlexAlexCropley]

Been thinking about this a bit.  These capital controls in China haven't just happened in the last week, so when the auditors were considering the Going Concern issue for the last set of accounts, they would have had to have satisfied themselves that Xia had the ability to support the club.  That means having the cash and also the ability to ACCESS that cash.  It's looking like another Carillion situation, whereby the audit report isn't worth the paper it's printed on.

Risso, that could possibly have fallen down on the Chinese documents / certificates / guarantees.

I would presume that Deloittes have done their job correctly but  they may have received assurances from Chinese institutions that money and access to money were in place. I wouldn't exactly faint with surprise if those guarantees were slightly less than concrete, or if circumstances have changed since they were made. As an aside, we have a small office in Shanghai with 3 staff and since the last Party congress when Xi became all powerful there is a noticeable increase in enforcement of previously ignored regulations. Things that used to get by thanks to contacts and relationships are now being blocked.

There are many stories of Chinese companies floating on the Hong Kong stock exchange (or international companies including a valuation of their Chinese activities for their flotation)  only to find later that some of the checks and balances were less than 100% genuine.

So ,if your office had wind of this,then surely Tony and Ho were privy too.From last October?
Which makes the current state of affairs look worse.

Funnily enough I only found out yesterday that our Chinese national insurance payments are rising 3.5% - our man out there discovered this earlier the same day. That is just an example but there are more of rules being enforced more rigorously.

The Chinese have a saying "The mountains are high and the Emperor is far away",  basically meaning out of sight out of mind. Traditionally companies in Beijing have to toe the line - being close to the Party HQ there was no wiggle room. In Shanghai people would tell you the rules then point out that for a fee a compromise solution could be found. As Xi's grip tightens on power there are fewer options to bend the rules in the areas he is interested in.

Which is probably not good for Tony Xia.

I read that with the theme tune of Kung Fu in my head

[villa `cross the mersey]

We talked a number of times last season, on one of the many long away trips, about footy grounds we hadn't visited in Div 1 and 2. With the way things are looking, we might now get the chance. Silver Lining and all that!

Unfortunately given my age and era have seen the  Villa at most grounds so even  that aspect does not even raise a smile.

at our age mate it's difficult to raise many things !!!!

[myf]

I',m reserving judgement on the Wyness / Xia blame game until things are a bit clearer

Blame them both