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  "documentTitle": "Superb Summit International Group Limited (1228.HK)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2014-11-20 00:00:00",
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  "notes": "The diagram illustrates a complex ownership structure involving BVI and Seychelles entities, leading to a JFT acquisition.",
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      "text": "On March 23, 2014 Superb Summit announced that the valuer, Beijing Tian Hai Hua, had valued JFT at HK$1.5 billion, which of course necessitated that Superb Summit pay the maximum possible HK$600 million for its stake.",
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      "text": "Ownership structure from Mr. Ng through Sherri Holdings, Cosmic Summit, and Chongcheng to JFT, with Mr. Jin Fei as a minority shareholder.",
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      "text": "On March 23, 2014 Superb Summit announced that the valuer, Beijing Tian Hai Hua, had valued JFT at HK$1.5 billion, which of course necessitated that Superb Summit pay the maximum possible HK$600 million for its stake. On May 30, 2014, Superb Summit announced that it would satisfy the consideration with only HK$50 million in cash, issuing a HK$500 million promissory note for the balance. Also on May 30, 2014, Superb Summit closed the transaction by acquiring 51% of Cosmic Summit from Sherri.",
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      "kind": "title",
      "text": "JFT Ownership 10-Jan-2014 through 30-May-2014",
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      "arcName": "Overcoming the Monster",
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