Ann: Sunland Group Strategic Plan, page-14

Sunland copped a lot of bad press a number of years back around the GFC - it was related to their holdings in the middle east. IMO this is a large part of the reason why the stock has been unloved - almost like it was blacklisted by "smart money" (but who knows?).

Don't quote me on the details, but there were 2 or 3 Australian businessmen (not Sunland employees) who were involved in sourcing development plots for Sunland. Sunland bought the land, but then there were bribery allegations about those plots and Sunland basically threw these businessmen under the bus - "we didn't know: it was all them!". So Sunland got off (more or less), but these businessmen were imprisoned in the Middle East (I think Dubai?). The businessmen were eventually released some time later - but it would have been a tough time. Sunland did go through several Australian court appearances over the affair, and the judge's verdict was scornful - basically said Sunland were unscrupulous - however, they never really got in trouble because it was all overseas and the Australian courts were just doing an enquiry. I'm fuzzy on the details - but that's the general gist of it. The Australian press seemed to take the side of the businessmen over that of Sunland though. I always felt something fishy had gone on - but who knows? 2 sides to every story - and if you start turning over rocks, there are a lot of dirty things and back-room deals going on in the business world. I have been a Sunland shareholder for >10 years and I was never proud of the whole controversy surrounding these events. I have done well off the investment though, and the recent developments are a nice sweetener. The company has always rewarded shareholders, because there's a lot of insider ownership through the Abedian family - can't say that about too many companies. So they deserve some respect for that in my opinion.

I'm sure there's plenty of info on google about the controversy if you look. Look for Marcus Lee and/or Angus Reed. Here's something I found https://www.abc.net.au/news/2014-04-08/questions-over-dubai-property-deal/5375764?nw=0