2 head offices have been built and paid for by TTC and then TTC...

2 head offices have been built and paid for by TTC and then TTC management have changed their mind and got 100% of their money refunded in installments over a 6 month period.

I find this real hard to believe. What developer allows you to get 100% refund when you change your mind 6 months later, twice? I think it is more likely that TTC management are using TTC's pretty large cash reserves to invest in the office property development/building sector. Borrow TTC's money at 0% interest, build the office space, sell it off for a profit, and then TTC shareholder's get their borrowed money refunded over a 6 month period, all under the guise of TTC needing new office HQ's.

Very risky strategy, with no financial benefit to TTC shareholders and all the benefit to the ?Mr Zhirong Hu?, et al.

Obviously there is not enough details in the announcements to prove this, and TTC management will never admit to this, however, if true, it is scandalous and an illegal use of shareholder's money and there is absolutely no disclosure. I'm just glad that it appears TTC's money keeps being returned to the company's bank account. Otherwise I question the competency of a board, especially when they have withdrawn from two very significant contracts within 6 months....