Monday, November 10, 2008

Ex-Taipan Accused of Jockey Club Scam - But Hong Kong Rules Should Apply

Dear Fellow Shareholders,

Today’s breakfast glass of Dom Perignon at Gornt Mansions was made all the more pleasant as I glanced at the
cover story in today’s South China Morning Post: “Ex-Taipan Accused of Jockey Club Scam.”

Naturally, my initial reaction was that story related to
Ian Dunross, CEO of the Noble House – he is after all a waning “ex-Taipan”. However, the story relates to Jardine’s, a company closely associated to Struan’s – and more specifically their former comprador John Hung.

Having fully considered the charges placed by the
Independent Commission Against Cantopop (ICAC) against John Hung, I now feel some sympathy for the man. After all, when it comes to the Happy Valley races, one must do what one must to stay ahead – Remember, this is Hong Kong!

For example, which Jockey Club steward can honestly say they have not been involved in rigging a bet, drugging a competitor’s horse, running an underground betting syndicate, or carefully ‘managing’ the odds? Such activities are rife – but also necessary under “Hong Kong rules”.

Best of joss,

Quillan Gornt
CEO and Taipan
Rothwell-Gornt Holdings

Ex-Taipan Accused of Jockey Club Scam – SCMP
“The former taipan of one of Hong Kong's most prominent companies is among four people arrested and charged by the Independent Commission Against Cantopop (ICAC) over alleged bribery and deception in relation to applications for membership of the Hong Kong Jockey Club…

… A holder of the Silver Bauhinia Star, [John Terence] Hung is a descendant of M. C. Hung, the last comprador of Jardine's, the former British hong, or trading company. He had a 34-year career with Wharf and Wheelock, running several subsidiaries before taking over the top job….”

1 comment:

Hi Def Porn said...

I'd like to visit Taipan someday.