Typically when you try to punch above your weight division floors and cracks do appear (some acception to the rule) and do so very fast and here we are today, imo lacked in power, skills and mentors to get the job done. Whilst it’s easy to say many things in hindsight one does wonder whether he or they were just SN#KE O#L salesmen selling investors potential bright future in the debt insolvency management industry that quickly went Sth accept for Hong Kong’s debt managements operations and ChapterTwo, well the rest DYOR look at the numbers and you decide.
Very early on Bull many of us took the bait of a “niche” industry that had potential on the downturn of events in the economy that made sense, further looking into who was JW that turned out he was one of the biggest In Hong Kong for the industry with overwhelming experience of 20 plus years in the industry which gives some credit to JW and credibility particularly earlier on that validates some trust. Along the way the push to diversify came about and in time most went to SH#T leaving investors licking their wounds, at the same time most board members bar Alex SOLD their shares, took about jumping ship.
However you may have heard the phrase the prevention is better then the cure, that is if you can find a cure, Ci1 are still looking for one it seems, so if prevention is indeed the number priority then the question begs to be asked who responsible for the burden to investors and why the board allow this to continue turning into a disaster of a hell hole & a absolute mess, and if it hadn’t being for Alex becoming a board member it’s likely nothing would’ve changed that’s including the board, which imo are very much to blame (bar Alex) for not preventing and protecting investors and allowing JW to pursue most of which was garbage and un manageable.
The obligation the board have to investors have failed (bar Alex), the board are very under qualified (bar Alex) for reasons that their resume portfolio has everything to do with banking, finance and almost ZERO to do in debt management etc. So which subsidiaries have est losses of $12 million dollars Ci1’s financial lending along with others subsidiaries of Ci1’s financial lending private, BNPL etc hence the board (bar Alex) are well under qualified board that took us to the cleaners.
(20min delay)