{
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  "docSlug": "1b5057c3a25e",
  "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": "This is a page from a research note exposing corporate fraud/misrepresentation.",
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  "components": [
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      "kind": "callout",
      "text": "The purchases announced in these releases never came to fruition. As for the coal supply agreement, if coal were supplied, it was not by Superb Summit.",
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      "kind": "paragraph",
      "text": "In July 2012, Superb Summit went on a coal kick. It falsely claimed to acquire Tianjin Libao on July 11, 2012. On July 17 and 18, 2012, it also announced a complex series of LOIs to acquire stakes in seven Mongolia to China conveyer belt and logistics companies. It supplemented those announcements on July 25 and 28, 2012 by announcing a coal supply agreement and mine acquisition. The purchases announced in these releases never came to fruition. As for the coal supply agreement, if coal were supplied, it was not by Superb Summit.",
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      "kind": "source-note",
      "text": "30 April 8,2013: http://file.irasia.com/listco/hk/superbsummit/announcement/a130408a.pdf\n31 July 11,2012 p.110: http://www.hkexnews.hk/listedco/listconews/SEHK/2013/0429/LTN20130429321.pdf",
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      "kind": "title",
      "text": "Failure #7: Initiative to buy stake in Mongolia to China coal conveyer belt and logistics companies fails",
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      "arcName": "Overcoming the Monster",
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      "evidence": "The document concludes by highlighting Superb Summit's track record of failing in new initiatives and presenting a clear call to action for investors",
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      "name": "Cost Of Inaction",
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      "evidence": "The document highlights the risks of investing in Superb Summit and the potential consequences of ignoring these red flags",
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      "objective": "What is the cost of ignoring Superb Summit's questionable business practices?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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