Hong Kong media reports doubts of CP ability to purchase Ping An Insurance | Bangkok Post: breakingnews

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CP financing of Ping An doubted

Fresh doubts were raised by Hong Kong media on Monday about the ability of Charoen Pokphand Group to pay for its plan to buy a large stake in Ping An Insurance.

The reports said the China Insurance Regulatory Commission (CIRC) was looking into a sudden and unexplained increase in the registered capital of the four CP subsidiaries which the company has said will pay the US$9.4 billion for the Ping An stake.

According to the unsourced Hong Kong reports, the CIRC was concerned that the registered capital increased  52,000 times in less than a month.

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Your comments

  • pete

    ThailandPost : 433

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    Discussion 1 : 14 Jan 2013 at 09.131

    “The Caixin media said all four CP units are registered in the British Virgin Islands…”

    Would this be for tax avoidance or tax evasion purposes?

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