Univision Engineering Share Discussion Threads

[noirua] 16/2/2023 17:02

The Interim Results to September 30 are also due out with the Annual Results. It has been a difficult time for the company and MTR may have been unfair to Univision in the Covid circumstances.

[noirua] 16/2/2023 15:21

It seems I was unduly negative so Beechers Brook is jumped and the Chair so only the smaller obstructions to go and the run-in.

[knigel] 16/2/2023 14:37

Case Dismissed!!! So back from suspension soon?

[noirua] 13/2/2023 12:41

Last Wednesday was the date of the court case. So a decision should have been made by now or the company is aware of a positional proposition made to them.

[noirua] 06/2/2023 15:49

I suppose it depends on how specialist all this equipment is and whether it was installed for MTR. If it was and MTR has since paid Univision for the work there would be little UVEL could defend.

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Scheme of arrangement

There is no solvency requirement per se. However, in practice, the applicant to a creditors' scheme of arrangement will seek to demonstrate that the scheme is necessary to restructure the company's debts and that it is fair and beneficial to one or more classes of creditors. For instance, in a creditors scheme the applicant may try to show there is a real risk of default without the scheme and that the creditors would have a lower recovery in an insolvent liquidation scenario.

Reorganizations, restructurings and workouts

There is no solvency requirement. However, the answer to this question under the "Scheme of arrangement" section is repeated where the reorganization, restructuring or workout is by way of a scheme of arrangement.

[zangdook] 06/2/2023 13:51

It says "in respect of equipment supplied to the Company" which suggests they did receive it... In October they borrowed HK$12m which is almost the amount claimed. It was only borrowed for three months, so presumably it's been paid back, but if they still have access to that sort of credit, even if they lose in court, perhaps they can pay off the debt with a new loan and avoid being shut down. Fingers crossed.

[noirua] 06/2/2023 12:37

Univision may be waiting for the result of the winding up petition on or after 7 February 2023. The company has failed to say whether they received the equipment - if they did they are sunk. If they did not receive the equipment then they may well be successful - IMHO.

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Tomorrow looks to be either the day of the decision or the start of the Hearing.

[zangdook] 21/1/2023 13:29

I'm not happy that they only apologise for "inconvenience". They need to apologise for incompetence.

[noirua] 21/1/2023 13:24

Part of Message from HL Corporate Actions Group 20.01.2023: Thank you for providing the information regarding Leader Smart Holdings, off the back of this and further research we have done, we have decided to re-credit the shares.
This outcome is mainly due to information and prompting from #zangdook.

[noirua] 18/1/2023 15:51

HL have also put my shares back into my accounts and apologised for the inconvenience while they investigate further.

At this stage, I won't be doing anything further. Fortunately, I've met a person originally from China who is willing to translate my English into Mandarin so as to investigate further in China. It seems there are ways of doing things and not my way.

[zangdook] 17/1/2023 11:59

HL have put my LSH shares back in my account. No apology yet.

[noirua] 13/1/2023 23:26

No news as yet on anything - will post if some arrives - good luck.

[noirua] 03/1/2023 14:22

The Restructuring Review: Hong Kong
04 August 2022

[noirua] 03/1/2023 14:12

December 7, 2021
Introduction to Hong Kong winding-up regime


In contrast, compulsory winding-up takes place following a court order for the company to be wound up upon a petition presented by a creditor of the company.
Before the grant of a court order, a creditor must satisfy one of the statutory grounds set out in the CWUO, with the most common ground being the company’s failure to pay its debts.
Different from voluntary winding-up which is instigated internally, compulsory winding-up can be initiated by the debtor company, shareholders, liquidators, official receiver, the Registrar of Companies and, most commonly, creditors.
It is subject to a higher degree of external supervision and control, given the involvement of the court.

Pursuant to CWUO s.177, the court may make a winding-up order against a company if it is satisfied that one of the following grounds is made out:

The company has resolved by special resolution (which requires a majority of 75%) that the company be wound up by the court;
The company does not commence its business within a year from its incorporation or suspends its business for a whole year;
The company has no members;
The company is unable to pay its debts;
The event, if any, occurs whereby the memorandum and articles provide that the company is to be dissolved; or
The court is of the opinion that it is just and equitable that the company should be wound up.

The company being unable to pay its debts is the most common ground for invoking compulsory winding-up in Hong Kong. Under CWUO s.178, a company is considered unable to pay its debts if:

It is unable to satisfy a statutory demand for a debt of not less than HK$10,000 within three weeks from the date of the demand;
It is unable to satisfy a judgment against a company in part or in whole; or
It is proved to the satisfaction of the court that the company is unable to pay its debts.
The court will not make a winding-up order if it is satisfied that the debt upon which the petition is based is the subject of a bona fide dispute on substantial grounds.

[noirua] 03/1/2023 13:18

Univision may be waiting for the result of the winding up petition on or after 7 February 2023. The company has failed to say whether they received the equipment - if they did they are sunk. If they did not receive the equipment then they may well be successful - IMHO.

[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 -

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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.
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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