Up to today, nobody knows what’s the outcome
Friend back?
Freaking pricey...must he highly lucrative.
One of my friends also lost his company to a CECA.
First, the CECA injected some money into his company in order to own a stake of the company. Then he injected more fund, claiming that he wanted to expand the company. The CECA would then become a majority shareholder but promised my friend verbally that everything would remain the same and my friend still remained as the Managing Director of the company.
After one year, that CECA kicked him out and my friend became jobless thereafter.
In biz, believe only yourself.
Of all, go believe ceca words. The most inconsistent people.
(03-08-2023, 05:50 PM)Clyde Wrote: [ -> ]One of my friends also lost his company to a CECA.
First, the CECA injected some money into his company in order to own a stake of the company. Then he injected more fund, claiming that he wanted to expand the company. The CECA would then become a majority shareholder but promised my friend verbally that everything would remain the same and my friend still remained as the Managing Director of the company.
After one year, that CECA kicked him out and my friend became jobless thereafter.
this is becos yr friend did not watch hk drama how the original owner was makan
at least shld ask friends n relatives advice are there any hidden danger
(03-08-2023, 05:50 PM)Clyde Wrote: [ -> ]One of my friends also lost his company to a CECA.
First, the CECA injected some money into his company in order to own a stake of the company. Then he injected more fund, claiming that he wanted to expand the company. The CECA would then become a majority shareholder but promised my friend verbally that everything would remain the same and my friend still remained as the Managing Director of the company.
After one year, that CECA kicked him out and my friend became jobless thereafter.
No offense.
You friend don't know how share holdings and ownership of companies work?
sometimes its better to stay small, smaller
rather than be seduced when investors come calling
My this friend has only a Diploma in Mechanical Engineering. Initially he still sang praises about that CECA, saying he had very strong financial backing. My friend was also quite howlian type, said he himself was in this business for many years and know the business inside out, nobody could replace him.
I was shocked that he trusted whatever the ah neh told him verbally without any black and white. The ah neh exercised his legal right to buy over my friend's shares at a certain agreed price after a year.
(03-08-2023, 08:50 PM)Clyde Wrote: [ -> ]My this friend has only a Diploma in Mechanical Engineering. Initially he still sang praises about that CECA, saying he had very strong financial backing. My friend was also quite howlian type, said he himself was in this business for many years and know the business inside out, nobody could replace him.
I was shocked that he trusted whatever the ah neh told him verbally without any black and white. The ah neh exercised his legal right to buy over my friend's shares at a certain agreed price after a year.
Legally bought over is where todi beers whiskies are running out.
(03-08-2023, 05:50 PM)Clyde Wrote: [ -> ]One of my friends also lost his company to a CECA.
First, the CECA injected some money into his company in order to own a stake of the company. Then he injected more fund, claiming that he wanted to expand the company. The CECA would then become a majority shareholder but promised my friend verbally that everything would remain the same and my friend still remained as the Managing Director of the company.
After one year, that CECA kicked him out and my friend became jobless thereafter.
Even if not by ceca, your friend must be very naive to not have anything written down in black and white.