In asia, the tycoon make monies by transferring profits from public companies to their own private companies. They bleed their public companies dry, then taking them private at at high discount to their asset price.
Few years later, they list the company again under another name. The government and regulators sit by doing nothing. The mass media cheers these scumbag as "talent".
Above from Asian Godfathers
Reuters reports on 23 May 2011
Brookvale, a firm linked to Malaysian tycoon Robert Kuok, on Monday offered to take Singapore property firm Allgreen private in a transaction that values the property firm at S$2.54 billion ($2.1 billion)[link]. This company is listed in SGX, singaporean investors got screwed.
About Allgreen Properties
Wikipedia states that Allgreen Properties Limited develops complex residential and corporate construction projects on freehold and leasehold land in Singapore. The company is the property development arm of Malaysian tycoon, Robert Kuok.
|Suger King, Robert Kuok|