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 Post subject: Re: The Baroque on Lamma
PostPosted: Thu Oct 09, 2014 3:28 pm 
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Like the way they say they'll use "wind turbine power".
The turbine doesn't belong to Baroque.
They'll just plug into the HKE grid, and 0.1% of that will be wind power, same as everyone else in HK.

The rest is just as much bollocks.


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 Post subject: Re: The Baroque on Lamma
PostPosted: Fri Oct 10, 2014 2:48 pm 
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Breaking news:

Mainland developer Agile Property cancels HK$2.79b rights issue

Agile Property Holdings has scrapped a HK$2.79 billion rights issue amid market rumours that chairman Chen Zhuolin has gone missing.
Shares in the mainland property developer, in which Chen and his family are the controlling shareholders, have been suspended since October 3.
According to a filing with the Hong Kong stock exchange on Friday, Chen and his family would support any future fund-raising exercise by Agile and stood ready to commit their own financial resources.
Agile earlier this week denied a report on a Chinese website that the company had links to former Chinese security chief Zhou Yongkang, who is under investigation amid Beijing’s anti-corruption drive.
In Friday’s statement, Agile said the joint underwriters that had been appointed for the rights issue would discuss funding options with the company, including another possible rights issue.
Agile had planned to raise HK$2.79 billion through the issue of 696 million shares on the basis of one rights share for every 5 existing shares held by the qualifying shareholders at a subscription price of HK$4 per rights share.
Agile shares last traded at HK$4.77 on September 30.
=================================

I'm sure we're all very sad to hear about Agile's difficulties and their "missing" chairman. I wonder if anyone has thought to check the Tannery flats?


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 Post subject: Re: The Baroque on Lamma
PostPosted: Sun Oct 19, 2014 3:29 pm 
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More sad news for Agile.


Corruption probe puts heat on Agile Property

Detention of chairman not the first time firm is placed in the spotlight, having been involved in sexual assault and corruption cases previously
15 October, 2014,
Chen Zhuolin has been ordered to stay at a designated residence while investigations continue.

Agile Property Holdings is no stranger to scandal, but the detention of its chairman and founder on the mainland amid allegations of corruption has raised the heat on the Guangdong-based developer to unprecedented levels. Chen Zhuolin has been ordered by the Kunming City People's Procuratorate to stay at a designated residence - a form of house arrest - while investigations continue.

Agile said in a filing to the Hong Kong stock exchange on Friday it was not aware of any other information related to Chen's condition.
The detention followed mainland reports that alleged corruption at Agile's projects in Yunnan.
An online report, denied by Agile, raised allegations of money laundering and said former security chief Zhou Yongkang, who is being investigated for graft, had a close relationship with Agile's executive director Chan Cheuk-yin, Chen's youngest brother.
Agile said Chen's wife, Fion Luk Sin-fong, and Chan had been appointed executive directors and acting co-chairmen in Chen's absence - a similar move it made in 2012 when Chen was arrested for alleged sexual assault.
"This time, the impact on the company is believed to be more serious than the one in 2012," Bocom International analyst Alfred Lau said. "There are a lot of uncertainties in the probe. What is the issue and how big will the investigation be?"

Chen was arrested in Hong Kong in August 2012 for allegedly assaulting his secretary during a private party at his home in Purves Road, Happy Valley.
Shares of Agile fell 12 per cent in four days from August 31, 2012, after the company confirmed Chen's arrest. The case was closed in March last year after the prosecution dropped the charges. Chen was required to give a written apology and pay the victim's medical bills of about HK$4,000.

But that was not the first major scandal to rock the company since its listing in Hong Kong in December 2005.
Chen founded Agile with his brothers in Zhongshan, Guangdong, in 1989, as a furniture maker. The company moved into property in 1997 with investments in Zhongshan and then expanded to other parts of the province in 2002.
But it was a 20 billion yuan Hainan Clearwater Bay project, a tourist resort joint venture with Morgan Stanley, that set the company on the road to fame, fortune and controversy.
In February 2009, investment bank Morgan Stanley fired the managing director of Morgan Stanley Real Estate in Shanghai for suspected violation of the United States Foreign Corrupt Practices Act.
Mainland media reported that the joint-venture project had triggered a graft investigation. Agile denied the report, but it led to a sell-off in its shares.
The case ended when the former executive was jailed for nine months in the US for corruption in a Shanghai property deal.

Analysts said Agile had made a lot of money from the Hainan project, which had also established its unique brand. That success spurred Agile to embark on another tourism development in Yunnan - now the subject of controversy.
Mainland media said Agile officials involved in projects in Yunnan were under investigation.
Analysts said Agile was expected to be hit hard in the near term. The company's shares plunged as much as 30.8 per cent on Monday after they resumed trading, before the loss was pared to 17.2 per cent at the close. The stock regained 5.06 per cent yesterday to close at HK$4.15.
Agile has not commented on the reports of problems in Yunnan. In a conference call with analysts on Monday morning, it said it had three projects in Yunnan and planned to invest more than 3 billion yuan (HK$3.8 billion) this year.
To tackle its cash problem and to repay a US$475 million offshore loan maturing soon - after suddenly cancelling a HK$2.8 billion rights issue - the company said it was talking to its partners on asset disposals worth about 20 billion yuan.
It also said it would speed up revenue flows due to more flexible pricing of new launches.
"The street is concerned about the default risks of Agile," Edison Bian, the head of China property at UOB Kay Hian (Hong Kong), said in a research report released on Monday.
But Bian added there was still hope. "Agile is still one of the largest developers in southern China, and many of the projects are well known. The company is in talks with a few large, listed developers on potential cooperation, which will turn out to be supportive to the stock if fulfilled."



Agile Property Holdings cuts rights issue to HK$1.65b

Thursday, 16 October, 2014,


Agile Property Holdings yesterday announced a reduced rights issue to raise funds from a wary market amid signs that the Communist Party's top anti-corruption agency is now investigating the beleaguered company. The developer said it had "lost contact" with an executive director who was overseeing a project in Yunnan province that was now being investigated by the Central Commission for Discipline Inspection.

Agile has been embroiled in controversy since reports that it allegedly assisted in money laundering, and that former security tsar Zhou Yongkang had a close relationship with Chan Cheuk-yin, one of Agile's directors and chairman Chen Zhuolin's youngest brother. Agile denied the report.

Shares in the developer, suspended since October 3, plunged 17.2 per cent on resumption of trading on Monday after it was confirmed that Chen had been detained on the mainland. The news deepened investors' concerns over the cash-strapped developer's ability to repay a US$475 million offshore loan maturing in December.

After calling off a rights issue to raise HK$2.8 billion last Friday amid a ratings downgrade over refinancing risks, Agile said it now aimed to raise HK$1.65 billion by issuing 435.23 million rights shares at HK$3.80 each. The rights issue is being underwritten by the trustee of the Chen family trust. Moody's Investors Service last night said the proposed issue was credit-positive but added that the detention of its executive director negatively affected its management capacity.

The Guangdong-based developer said it intended to use the proceeds from the rights issue to refinance part of the existing bank loans that would mature in December.
According to Kenny Tang Sing-hing, a general manager at AMTD Financial Planning, the rights issue would partly ease the financial pressure on the company.
Macquarie, however, said the news that there was no trace of a senior executive added to the company's uncertainties.

Agile said it was not able to contact Huang Fengchao, who was responsible for overseeing the group's projects in Yunnan and Hainan provinces.
It said company staff had met anti-graft and local officials on Monday to brief them about Yunnan's Tengchong resort project.
But it said neither the company nor Huang's family had received any legal documents regarding Huang from any governmental, regulatory or judicial authority.
Tengchong is one of the three tourism resort projects in Yunnan being developed by Agile, which told analysts on Monday it would invest more than 3 billion yuan (HK$3.79 billion) in the projects this year.
Agile said it was also in discussion with banks on extension for outstanding loans. But worries about the company's ability to settle loans persist.

Agile's shares continued their slide yesterday, falling 4.81 per cent to close at HK$3.96. The stock has lost 17 per cent since resuming trading on Monday.


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 Post subject: Re: The Baroque on Lamma
PostPosted: Fri Feb 27, 2015 12:49 pm 
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No more bad news from Agile recently?
In the meantime, the Baroque people in the local Agile office have kept busy hiring loads of consultants, sending out e-newsletters and creating a new, very visual brochure for a younger and more critical audience, asking and answering questions like:

"Shouldn't we just do nothing?"
"...just another rich men's garden"
"...not tearing down the village houses, what are you going to do with them?"


Brochure introduction
Brochure download (31 PDF pages)


It talks about creating an eco-destination and even incorporates some basic ideas (no domes) of the Eden Project in the UK, which was suggested unsuccessfully by the opposition of the Govt. plans for the ex-Lamma Quarry new town of 5,000 people and up to 13/F high-rises.


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Bol-Report-15-Eden-wp.jpg [ 265.61 KiB | Viewed 915 times ]

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 Post subject: Re: The Baroque on Lamma
PostPosted: Fri Feb 27, 2015 6:54 pm 
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Haha, nice one! (I'm assuming this is satire)


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 Post subject: Re: The Baroque on Lamma
PostPosted: Mon Mar 02, 2015 10:01 pm 
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Who are the Baroque? Serious, I am too new on Lamma to know this and interested to learn some new things about my new (2 years now) home.
Is there any email contact from the people. Is this a serious suggestion on how to develop Lamma in a bit more 'natural' way. Why or what would be the satire on it? Some more details please. Thanks a lot.

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 Post subject: Re: The Baroque on Lamma
PostPosted: Mon Mar 02, 2015 10:43 pm 
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Have a look at their website - http://www.bol-hk.com - for more info and background, plus many stories and discussion on this website (search for Baroque at the top of the Lamma.com.hk home page and in this forum). The Baroque is a planned (rejected by Govt. so far) project by major Mainland property developer Agile together with a local partner, King Wong.


Uebrigens, herzlich willkommen auf Lamma! So viele Deutsche auf Lamma und wenigstens 3 Schweizer, inklusive mich.
Schau dir doch mal die deutsche Lamma Gruppe auf Facebook an:

Lamma spricht Deutsch

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 Post subject: Re: The Baroque on Lamma
PostPosted: Tue Mar 03, 2015 8:16 am 
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Quote:
Why or what would be the satire on it?


How about: 'the breakwater of the marina is going to be a big artificial reef that will enrich the marine ecology and fishery resources at southern Lamma'. Satire is being polite.


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 Post subject: Re: The Baroque on Lamma
PostPosted: Tue Mar 03, 2015 11:13 am 
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I love the photo of a colourful, lively coral reef.
The Baroque version would be made of plastic, of course.

That they just blandly make up crap like this and illustrate it with photos of some pristine paradise reminds us of their duplicity.

There used to be coral here, a few decades ago. You find bits washed up on the beaches frequently.
But the water is too murky now. There would never be any live coral on their breakwater.


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 Post subject: Re: The Baroque on Lamma
PostPosted: Sun Mar 08, 2015 7:51 pm 
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Thanks for the asnwers.

@zep: thanks for your explanation.

after reading the website of this project I do understand that most ppl are not happy about it. Problem as everywhere in world for this kind of projects ... too much money involved and not enough knowledge from Developer side and no communication between all involved parties. Sad game everywhere.

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 Post subject: Re: The Baroque on Lamma
PostPosted: Sun Mar 08, 2015 8:23 pm 
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Lelong wrote:
not enough knowledge from Developer side and no communication between all involved parties. Sad game everywhere.


Actually, I don't think that's the problem.
The developer has hired a bunch of people to research the opposition and brochures like this to "greenwash" the project, are the result. They address al the issues we've pointed out. That they do it with total insincerity is beside the way.

They hear us, and we hear them. The problem is not lack of understanding, it's a lack of shared values.
Their only interest in the wildlife and natural setting is as a ruse to get the project okayed.


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 Post subject: Re: The Baroque on Lamma
PostPosted: Mon Mar 09, 2015 12:16 pm 
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Didn't they claim at one stage that the whole project would be powered by green tidal energy (just like no other project anywhere in the world)? I can't find the reference but seem to remember it from somewhere.


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 Post subject: Re: The Baroque on Lamma
PostPosted: Mon Mar 09, 2015 4:19 pm 
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Yeah, and have a 6 star international hotel, and host a world class yacht race.
They'll just say anything, get an artist to draw it into the latest concept.

Once it's built it'll just be flats sold to the highest bidder. Nothing else. They hope for Disco Bay, they'd probably get Sea Ranch.


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 Post subject: Re: The Baroque on Lamma
PostPosted: Mon Jul 27, 2015 6:27 pm 
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(Source: Apple Daily), WhatsApped from my Chinese relatives. Translated by HK Real News:

"Lamma ‎Property‬ development project "Baroque on Lamma", rejected by Town Planning Board 3 years ago, returns!

In the next few days, Agile Property together with King Wong Gp will apply for TPB's approval for a yacht club + hotel + luxurious property project in South of Lamma.

This HK$10 billion project, according to Agile's CFO Cheung Sum, is about building an international grade project which can demonstrate that natural preservation & development can co-exist. The development will, according to Tiu Chin-wai, project director of Baroque, the development is not a "rich's heaven" but will include a number of public facilities and look similar to Stanley.

Many environmental groups object the development project due to the potential damage it could bring to the habitat of Romer's tree frogs (only found in HK so far), Green sea turtles, finless porpoises and many other endangered species."




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 Post subject: Re: The Baroque on Lamma
PostPosted: Thu Jul 30, 2015 9:26 am 
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One of the rare supportive stories, from China Daily:

Lamma marina may resolve shortage of berths

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 Post subject: Re: The Baroque on Lamma
PostPosted: Sat Aug 01, 2015 4:46 pm 
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China Daily supports Mainland Agile Property to solve HK's pressing needs...I guess CCP members must be having a hard time finding moorings for their luxury yachts these days.


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 Post subject: Re: The Baroque on Lamma
PostPosted: Thu Aug 06, 2015 1:10 pm 
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Some South Lamma thoughts on the re-launch of The Baroque project
Compiled by Megaen Kelly


"As most readers of Lamma-zine know by now, the developers who were thwarted just three years ago in getting their multi-billion dollar luxury plans off the ground are at it again. The Baroque project, to be built primarily in the Tung O part of Lamma but which undoubtedly will have a knock on effect to other areas, includes high-end features such as a marina for extra-large yachts unable to be accommodated elsewhere in Hong Kong, a hotel, and pricey apartments, the latter rumoured to be too expensive for locals and thus geared towards wealthy Mainlanders hoping to get their money out of China. But that could be strictly hear-say.

Arguably the most vocal opposition to this project has come from Mo Tat, with residents there forming an actual anti-Baroque group and were instrumental in getting it halted the first time around. Unfortunately I wasn’t able to speak with anyone from Mo Tat, but we welcome anyone who would like to share their opinions about the development to contact Lamma-Gung.

That said, I showed a few Sok Kwu Wan expats the designs and brief outline of the planned venture. Of those a few said they didn’t want to go on record with their opinion, as they didn’t know who their ‘landlords were in bed with’. Fair enough. It is a highly polarising topic, with many local businesses all for the project as they envision hoards of people coming to Lamma and thus increasing their income. On the other side of the coin are the people who moved to Lamma in the first place to get far from the maddening crowds (except weekends when there’s no escaping!).

The couple of people willing to comment first noted the problems with the proposed marina. Bo, a seven year Lamma resident and a highly skilled sailor, competing in many races and competitions, opined that the water was too deep for a marina, meaning building of one would be a logistical nightmare.

Adding to this David, a 10 year Lamma resident and boat owner said that ‘no one in their right mind would build an east-facing marina. You would be sailing directly into the prevailing winds.’

Something to consider developers.

One of the main reasons why the project did not get green lit before was the lack of transparency in terms of environmental impact. That was the winning point for the anti-Baroque group and how the project will affect the local surroundings is still of high importance to residents . Bo says,
‘If you are allowed to start building in a conservation area, it sets a bad precedence’.

Indeed.

But how do you both really feel. Bo again,
‘It’s just a land grab. They won’t take no for an answer.’ David states, ‘We don’t need it. It’s just a way for someone to make a lot of money. Just leave things the way they are.’

Again, if you have an opinion on either side of the Baroque project, please let us know. In the meantime, we will keep you updated on events as they unfold."[/i]

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 Post subject: Re: The Baroque on Lamma
PostPosted: Thu Aug 06, 2015 3:32 pm 
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Quote:
the water was too deep for a marina, meaning building of one would be a logistical nightmare.
Adding to this David, a 10 year Lamma resident and boat owner said that ‘no one in their right mind would build an east-facing marina. You would be sailing directly into the prevailing winds.’
Something to consider developers.


The developers don't care about a marina.
It's just an excuse to get the land to build expensive flats.

Disco Bay was supposed to be a holiday resort.
Has anyone ever gone there for a holiday?

Cyberport was meant to be our Silicon Valley incubator.
It has barely any "cyber" companies.
It's a shopping mall, expensive flats, a cinema.


Lamma has been inhabited by a maritime culture for about 3000 years. In that time Tung O was never used as a harbour.
Not out of respect for turtles, but because it's a bad place to have one.


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 Post subject: Re: The Baroque on Lamma
PostPosted: Fri Jul 06, 2018 3:51 pm 
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Another casual meeting with the Baroque on Lamma's top man yesterday...

Summary: No news is good news, basically just waiting for a change in political climate before applying again to the Town Planning Board (turned down the 1st time in 2011).

Their extensive, detailed, modified plans to build a high-class marina (large enough for 100m superyachts), luxury housing development and a 6-star resort hotel, all in southernmost Lamma's Tung O Wan area. The hotel would be a 6-star Capella hotel by the very same Capella Hotels and Resorts Group that housed the Trump-Kim summit a few weeks ago in their hotel on Singapore's Sentosa Island.

So this HK$10 billion+ project by the Mainland's Agile Property group is sleeping for now, to be awoken as soon as the prevailing political climate will shift, becoming more welcoming and less hostile to their huge plans for southernmost Lamma.

Keep up to date with this project in this long-running forum, starting long before the first TPB application...

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 Post subject: Re: The Baroque on Lamma
PostPosted: Sun Jul 08, 2018 11:51 am 
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Lamma-Gung wrote:
a high-class marina (large enough for 100m superyachts), luxury housing development and a 6-star resort hotel, all in southernmost Lamma's Tung O Wan area. The hotel would be a 6-star Capella hotel by the very same Capella Hotels and Resorts Group that housed the Trump-Kim summit a few weeks ago in their hotel on Singapore's Sentosa Island.


Still complete fantasy BS worthy of Donald Trump.


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