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abh3vt

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abh3vt

Re: valuemind post# 26399

Thursday, 10/27/2005 10:30:44 AM

Thursday, October 27, 2005 10:30:44 AM

Post# of 173718
Valuemind, can you please answer the following questions regarding CESV:

If CESV says it already owns 100% of Skyway, but GRG says that the sale of its 35% stake is pending its shareholders' approval, then how can both statements be true?

Why did Eurofaith sell 35% to GRG for such a low P/E in the first place?

Why is GRG selling it to Sky Beyond (which it claims is independent of Eurofaith) on a P/E of 0.63, assuming the earnings are real?

Why didn't GRG sell the stake directly to CESV for HK$731m in stock, rather than selling it to Sky Beyond for HK$52m in cash?

NOTE: These questions are from the following source:
http://www.webb-site.com/articles/starway.htm

--------------------

I'm assuming you have some familiarity here with all the filings, as by your own admission you spent several hours going over the filings for Golden Resorts and SDID. Please show how these transactions were beneficial for CESV shareholders, and not just the major insiders?

You tend to wave off the issues of the 144 filings by the consultants and the original shell holders, but the fact remains that when the window of opportunity for selling opened, all those sellers filed at the FIRST opportunity. That's a bit troubling....

I can even get beyond that issue, because I think its a short term problem. However, the accounting surrounding the Starway/SDID acquisition is bizarre, confusing, and full of red flags.

This should be an interesting 10K filing, when it ultimately comes.
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