Univision Engineering Share Discussion Threads

[zangdook] 03/1/2023 09:43

Today it's 3 months since UVEL was suspended. If it's still suspended after 6 months it will be delisted. Can it really take so long to prepare the accounts?

[noirua] 23/12/2022 13:17

Thank you for your message, and I’m sorry for the delay in replying to your query.

I’ve checked your previous message regarding Leader Smart Holdings, and this has been passed to our Corporate Actions team to investigate further. We are currently querying the source of the information we received, which is that the company was no longer trading, and its shares declared nil value.

As soon as we have an update, we’ll be in touch.

I hope this has been of assistance. If you have any other questions, please get back to me.

Kind regards,

Sean Laver
Investment Helpdesk Consultant
Hargreaves Lansdown
Received 23 December 2022

[zangdook] 20/12/2022 10:38

Thanks for your research on UVEL's problems. I wonder if whoever took over the MTR contract could take over our contractual obligations and buy the Synnex equipment in our place, but perhaps things aren't that simple.

Let us know if you get a response from HL - the more of us complain the better. The link for the HK registry is I gave the webb-site links because it's the same data and I couldn't get hyperlinks from the relevant page entries in the registry site.

I think HL's incompetence here is pretty shocking. How many people would just have assumed they must be right and written it off? Don't they double-check this sort of thing?

[noirua] 19/12/2022 21:58

The company also said it had received a winding up petition brought by an equipment supplier - Synnex Technology International HK Ltd, for the contract with MTR Corpor Ltd in the High Court in Hong Kong. Synnex alleges that it is owed around GBP1.4 million by Univision. "Negotiations remain ongoing with Synnex in order to resolve this matter," the company said.

UniVision cancelled its contract for CCTV replacement works for MTR's railway in June, contesting an allegation by MTR that the company had breached its contract.
13 December 2022 -

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

It seems that Univision cancelled the equipment ordered by Synnex due to MTR cancelling their contract with Univision. So did Univision receive the equipment from Synnex and not pay or are Synex suing for alleged breaches of contract?

No mention of how far Univision have got concerning MTR's alleged breach of contract by cancelling it.

It seems to be a bit of a stew and maybe MTR is the one who should compensate Synnex as they cancelled the contract with Univision it appears without any negotiation or prior warning to give Univision room to negotiate with Synnex.

[noirua] 19/12/2022 17:42

Zangdook - I have incorporated some of your own words into my in-house message to HL, thanks again.
-----

2022 Re: Leader Smart Holdings Limited - Declared Worthless - 09 Dec 2022
Hi Mya-Leigh Sim-Jones

Corporate Actions

I would like to inform you that Leader Smart Holdings Limited registered in the British Virgin Islands, a holding company in Hong Kong that has one subsidiary Leader Smart Holdings Shanghai Limited, is still a live trading company. The names are translations from Cantonese and Mandarin. There are many companies with the same and similar names.
Contact is [e-mail] or
Chairman Mr Sin Mo Koo at Tel: [phone]
Fax: [phone]
Email: [e-mail]

Here's a company called Leader Smart Holding which was dissolved on the date that HL say in Jan 2018


And here's our company, Leader Smart Holdings which is still active


The Chairman of Leader Smart Holdings Limited is Mr. Stephen Sin Mo Koo, who is also Chairman of Univision Engineering Limited LSE AIM: UVEL. Leader Smart Holdings Limited was hived off from Univision Engineering Limited in May 2015 and owns 52% of a shopping mall in Zhongshan, Guangdong Province, and 100% of a large hotel and holiday complex in Huangshan ( The Yellow Mountains ), in the Anhui Province.
Univision Engineering:
UniVision Engineering Ltd
Unit 201, 2/F.,Sunbeam Centre,
27 Shing Yip Street,
Kwun Tong, Kowloon, Hong Kong.

Tel: [phone]
Fax: [phone]
Email: [e-mail]

-- This is the Leader Smart Holdings Limited HK Company Registry page for our company, saying that it's 'live'.
Quoted Registry no. F0021801

I hope this can be sorted out and my/our holdings returned.

All the very best

[noirua] 19/12/2022 17:16

The contact for Leader Smart Holdings Limited is or was :
[e-mail]
He has resigned though is thought to be still at Univision. In the meantime, Mr. Yip will remain with the Company as its Chief Financial Officer.


Thanks for all that information Zangdook I have now emailed HL. ii still has my holdings in place.

[zangdook] 16/12/2022 14:21

This is the HK Company Registry page for our company, saying that it's 'live'.
It's probably worth everyone affected by this writing to HL to complain. Quote the Registry no. F0021801

[zangdook] 16/12/2022 12:53

There are 16 Leader Smarts in all, but ours is definitely the one because it's the only Virgin Islands company among them. AND IT HAS NOT BEEN DISSOLVED.

search here

[zangdook] 16/12/2022 12:44

Looks to me like HL have made a balls-up.

Here's a company called Leader Smart Holding which was dissolved on the date they say in Jan 2018


And here's our company, Leader Smart Holdings which is still active


pretty careless if you ask me

[knigel] 14/12/2022 16:26

Interims due at the end of the month so perhaps we will have a better idea if this company has a future or not then… !!

[finkwot] 14/12/2022 08:26

You can't just steal a client's shares because "someone told us they were worthless". If the company has been wound up and, as they claim, the shares cancelled, there will be documentary evidence of this.

[noirua] 13/12/2022 11:43

I'm not sure what negotiations can be ongoing concerning the supply of equipment and payment. Synnex appears to have an outstanding record.

Univision has not announced any new contracts so work must be running down. On the other hand, UVEL has had an excellence award quite recently so it is right for people to be puzzled as to what is going on.

[zangdook] 13/12/2022 11:35

The other RNS is worrying, especially in the context of the CFO jumping ship. The response is less confident than to the earlier petition which was eventually dismissed.

[noirua] 13/12/2022 11:27

RNS - UniVision announces that it has received a winding up petition ("the Petition") that has been brought by one of its equipment suppliers for the contract with MTR Corporation, namely, Synnex Technology International (HK) Limited ("Synnex"), in the High Court in Hong Kong.

The Petition alleges outstanding debts owed by the Company of HK$12,945,834 (approximately GBP1.358 million) to Synnex in respect of equipment supplied to the Company.

Synnex has presented the Petition for the Company to be wound up pursuant to the provisions of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap.32) in Hong Kong. The date of the Court hearing has been set for 8 February 2023.

Negotiations remain ongoing with Synnex in order to resolve this matter.

Further announcements will be made if and when appropriate.

---

Synnex Hong Kong -

[noirua] 13/12/2022 11:20

The latest resignation is either a necessary reduction in directors and staff to reduce costs or the departure from the ship going into increasingly choppy waters. Reducing ballast.

[noirua] 10/12/2022 18:43

That's the notification from Hargreaves Lansdown. Nothing from ii so far.
It does seem very strange and I know there are other companies that have used the same name. Only the Chairman of Univision Stephen Sin Mo Koo really knows what the position is. As he is so busy with Univision I doubt he is that interested at the moment.

It is very difficult to find information about an unquoted company at the best of times and even more so in Hong Kong. The 100% owned subsidiary Leader Smart Engineering (Shanghai) Limited is even more difficult as my knowledge of Mandarin is zero save Google Translate which isn't very good.

[zangdook] 09/12/2022 22:13

I don't know, but we're entitled to more information than that.

[noirua] 09/12/2022 16:59

HL - What has happened?

We have been notified that Leader Smart Holdings Limited stock has been declared worthless from 26 January 2018.

Following this, the company’s shares have now been cancelled and no returns will be made to shareholders. The shares have been removed from your account and will no longer show on your SIPP Income Drawdown valuation.

Other information & warnings

If you hold these shares outside of a SIPP or ISA this may affect your tax position. Please contact your local tax office, or your financial advisor, for more information.

This letter is for your information only. If you have any further queries regarding this matter, please do not hesitate to contact us.

Yours sincerely

Mya-Leigh Sim-Jones

Corporate Actions

[noirua] 23/11/2022 13:14

29 September 2022: As a result of not being able to publish its Annual Report and Accounts by 30 September 2022 in accordance with AIM Rule 19, trading in the Company's ordinary shares on AIM will be suspended from 7.30 am on Monday 3 October 2022.

The Company aims to complete its audit and publish its annual report within a matter of weeks of this announcement, post which trading in the Company's ordinary shares is expected to recommence.

Further updates will be made in due course.

[noirua] 23/11/2022 13:05

Director Ivor Shrago has left the company the second to do so. Looks like the correct strategy in the current circumstances as the company rebuilds itself and to a degree reinvents itself.

[noirua] 07/11/2022 13:27

The Annual accounts are now 38 days overdue. The accounts themselves do not really appear to be a problem. What's a problem is that anyone reading the accounts only could be misled due to events following March 31 instant.

The recent court event appears not to have been finalised to include costs. Also the present position of ongoing and possible future contracts.

[zangdook] 18/10/2022 12:06

IIRC Univision were counter-suing. I don't think we have a date for that.

[noirua] 18/10/2022 11:47

That winding-up petition was unsuccessful so it at the very least gets one overhanging matter out of the way. Welldone UniVision.

[noirua] 18/10/2022 11:42

RNS - UniVision (AIM: UVEL), the Hong Kong based group whose principal activities are the supply, design, installation, and maintenance of closed-circuit television (CCTV) and surveillance systems, and the sale of security related products, announces that the Winding up petition brought against it by one of its sub-contractors, namely, T&P Solutions Limited, formerly known as T&P Construction Company Limited, which was first announced on 4 January 2022, has been dismissed by the High Court in Hong Kong today. Costs have been awarded to UniVision on an indemnity basis.[It generally means that the receiving party is likely to obtain an order for a higher percentage of their costs claim on assessment than would be the case if costs were assessed on the standard basis.]


The formal Court Order will be published in due course and a further announcement, if appropriate, will be made at that time.