Posted on 12/15/2001 4:55:12 AM PST by rubbertramp
Agence France Presse November 13, 2001 Tuesday SECTION: International News
Two Taiwanese killed in New York plane crash
TAIPEI, Nov 13
Two Taiwanese men were among the 260 passengers and crew killed when an American Airlines plane slammed into a New York City residential area, the foreign ministry said Tuesday.
The two victims were identified as Chen Ching-chih, 55, and Tseng Po-yi, 44, who ran separate businesses in the Dominican Republic. Their bereaved families were to fly to New York by Wednesday, the ministry said.
The Santo Domingo-bound American Flight 587 slammed into the Rockaway waterfront area shortly after takeoff on Monday, destroying four homes. Six people on the ground were feared dead in addition to dozens of Dominican passengers killed aboard the Airbus A300.
Taiwan President Chen Shui-bian extended his condolences to the Dominican Republic, one of only 28 countries to recognise Taipei as the legal representative of China rather than Beijing.
"President Chen has made it clear that the government of the Republic of China (Taiwan) will try its best to help the Dominican Republic, a staunch ally of the country," foreign ministry spokeswoman Chang Siao-yueh said.
-There's a Ching-Chih Chen who is a professor in Simmons College's graduate school of library and information science and was appointed by Bill Clinton to some kind of Advisory Committee.
-There's a "Ching-Chih Chen" who bought into CMF Technology fund, a company incorporated in the Cayman Islands in early 2001 to "manage technology funds which aim to make private equity investments in early to late stage companies in the targeted sectors of, among others, Opto-electronics, Semiconductors, Communications, Software, BIOTECHNOLOGY, and Advanced Technologies."
Here are all the gory details:
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MASSACHUSETTS SECRETARY OF STATE, CORPORATE RECORD
NAME: CHEN & CHEN CONSULTANTS, INC.
TYPE OF CORPORATION: DOMESTIC PROFIT
DATE INCORPORATED/QUALIFIED: 05/09/1980
ADDRESS: 1400 COMMONWEALTH AVE.
NEWTON, MA 02165
STATE OF INCORPORATION: MASSACHUSETTS
REGISTERED AGENT: CHING-CHIH CHEN
REGISTERED OFFICE: 1400 COMMONWEALTH AVE., WEST NEWTON, MA 02165
PRESIDENT: SNOW-HSIN CHEN
1400 COMMONWEALTH AVE., WEST NEWTON, MA 02165
TREASURER: CHING-CHIH CHEN
1400 COMMONWEALTH AVE., WEST NEWTON, MA 02165
ARTICLES:
PARTNERSHIP: YES
MANUFACTURER: YES
http://www.nclis.gov/about/ann ualreports/96-97-2.html
U.S. National Commission on Libraries and Information Science
INTERNATIONAL ACTIVITIES U.S. Department of State
Fiscal Year 1997 marked the twelfth year of cooperation with the Department of State to coordinate and monitor proposals for International Contributions for Scientific, Educational and Cultural Activities (ICSECA) funds and to disburse the funds. The allocation, in the State Department's International Organizations and Programs account, was under International Conventions and Scientific Organizations Contributions in past years.
The amount received for FY 1997 was $100,000 an increase from the $35,000 received for FY 1996. The following ICSECA programs were supported:
Chen & Chen Consultants - $10,000 To support planning and implementation of NIT Virtual Conference (NIT-VC) using Internet and WWW technologies.
AFX - Asia February 28, 2001 Wednesday COMPANY NEWS
China Merchants unit to invest 18.60 mln usd in CMF Technology Fund
HONG KONG
China Merchants Holdings (International) Co Ltd said its wholly owned unit Fair Win Developments Ltd has agreed to join in the formation of the CMF Technology Fund I Ltd with an investment of 18.60 mln usd for a 46.50 pct stake. In a statement, China Merchants said the establishment of CMF Technology Fund is expected to enable China Merchants and its subsidiaries to capture high-tech investment opportunities in the greater China area. The fund will have a term of 10 years, which began Jan 30, 2001, the statement said.
The 18.60 mln usd investment from Fair Win represents 2.72 pct of China Merchants' consolidated net tangible assets and the investment will be funded by China Merchants' internal resources, the statement added.
China Merchants said other CMF Technology Fund shareholders will include Fortune Technology Fund II Ltd, High Rated Holdings Ltd, Chih-Yuan Chen and Ching-Chih Chen.
High Rated Holdings is 100 pct indirectly owned by China Merchants' ultimate holding company China Merchants Holdings Co Ltd, while Fortune, Chih-Yuan Chen and Ching-Chih Chen are independent third parties.
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
Bloomberg News February 27, 2001, Tuesday 11:11 PM Eastern Time
CHINA MERCHANTS INVESTS IN $40 MLN TECHNOLOGY FUND Kenneth Wong in Hong Kong at (852) 2977 6600 or at kwong11@bloomberg.net /csm/jf
Hong Kong
China Merchants Holdings (International) Co., controlled by China's transport ministry, said it will take a stake in a $40 million technology fund as it seeks to insulate itself from shipping industry slowdowns.
Shares in China Merchants, which operates ports in Hong Kong and China, fell as much as 6.7 percent to HK$6.25. The stock recently traded at HK$6.30. China Merchants said it will invest $18.6 million for a 46.5 percent stake in CMF Technology Fund. Its parent, China Merchants Holdings Co., will pay $6.4 million for a 16 percent stake. Unrelated investors will own the remaining 37.5 percent.
The company is setting up the fund following a year during which investors soured on the Internet and related industries. In Hong Kong, the Growth Enterprise Market Index, comprised mainly of small technology stocks, fell 70 percent since March.
"The market is now so bearish on technology counters that some people think the industry is a goldmine and they can buy for good value," said Wang Guohua, an analyst at Merrill Lynch Asia Pacific Ltd. in Hong Kong.
Wang said the fund's small size means it will little impact on the company's finances. China Merchants reported net income of HK$704.5 million in 1999. It hasn't reported 2000 earnings yet.
CMF Technology will take stakes in companies developing fiber optics, semiconductors, software and BIOTECHNOLOGY, China Merchants said. It will also invest in U.S. and Chinese companies developing shipping technology.
China Merchants said CMF will try to attract other investors to add at least $20 million to the fund.
China Merchants International is 53 percent owned by China Merchants Holdings. The Hong Kong company, which also operates highways and sells paint and glass, said its management is in China this week, and so is unavailable for comment.
China Merchants International shares increased 29 percent this year.
The Straits Times (Singapore) January 18, 2001 Money; Pg. 12
$ 191m for 2 new high-tech funds Denesh Divyanathan, Technology Reporter
AGAINST the trend, Taiwan's Fortune Venture Investment Group (FVIG) has secured another US$ 110 million (S$ 191.2 million) to be invested in high-tech firms in the region, of which US$ 50 million will be managed out of its Singapore office. At a time when just about everyone seems to be staying out or pulling out of the gloomy technology sector, FVIG, one of Taiwan's top three venture capitalists, is doing just the opposite. The reason: Tech is here to stay, said chairman and chief executive James Chew.
"We are still focusing on high-tech because the future is high-tech. The recession for high-tech is only temporary," he said. "Right now is the golden period to invest ... because the business is bad and the price is low."
The new capital is for two new funds -Fortune Technology Fund II, with US$ 50 million, focusing on regional companies, and CMF Technology Fund I, with US$ 60 million, focusing on companies in China and US' Silicon Valley.
The new funds mean that FVIG now manages a total of some US$ 380 million. But this amount is expected to jump to US$ 650 million by end-March as the group is looking for investors in its US$ 300 million Asia-Pacific Fund. Both of FVIG's new funds will be targeted at high-growth areas such as biotechnology, communications, software and opto-electronics, he said.
If its track record is anything to go by, FVIG should achieve healthy returns on its two latest funds. Over the last four years, it has managed to achieve an 80 per cent return on realised investments each year, he said. And of the 112 companies which it has invested in, 26 have gone public.
http://www.cmtech.com.hk/engli sh/portfolio.htm
China Merchants & Fortune Assets Management Ltd.
Incorporated in the Cayman Islands in the first month of the year 2001, China Merchants & Fortune Assets Management Ltd.(¡§CMF¡¨) is a joint venture between China Merchants Technology Holdings Co., Ltd.(¡§CMTH¡¨), a wholly-owned subsidiary of China Merchants Group(¡§CMG¡¨), and Taiwan Fortune Venture Investment Group (¡§FVIG¡¨) to manage technology funds which aim to make private equity investments in early to late stage companies in the targeted sectors of, among others, Opto-electronics, Semiconductors, Communications, Software, Biotechnology, Advanced Technologies Associated with Shipping & Transportation in the Greater China Region and in the United States high technology companies with the potential of establishing business relations with such early to late stage companies in the Greater China region.
Since its inception, CMF has been contracted to manage CMF Technology Fund I, a 60 million US dollar high-tech fund incorporated in the Cayman Islands targeting at the emerging technologies in the above expanding sectors. It is to launch initially a 500 million RMB technology fund in the mainland China.
By making full use of the combined advantages in capital and business connections of CMG and CMTH in the mainland, and in hi-tech investment experiences of FVIG in the Silicon Valley and the Asia Pacific region, CMF aims to introduce the new and hi-tech of the Silicon Valley in the United States to the Greater China Region, foster the hi-tech start-ups, help create co-investment opportunities for the fund investors, and maximize the investment returns of the fund shareholders.
http://www.irasia.com/listco/h k/cmh/announcement/a010227.htm
CHINA MERCHANTS HOLDINGS (INTERNATIONAL) COMPANY LIMITED (Incorporated in Hong Kong under the Companies Ordinance)
ANNOUNCEMENTCONNECTED TRANSACTION Establishment of Joint Venture
SUMMARY The Board wishes to announce that on 27 February 2001, Fair Win, a wholly-owned subsidiary of the Company, entered into the Shareholders Agreement with Fortune, High Rated, Chih-Yuan Chen and Ching-Chih Chen to establish CMF Technology Fund. Pursuant to the Shareholders Agreement, CMF Technology Fund is to be owned as to 46.50% by Fair Win. High Rated is a connected person of the Company under the Listing Rules as it is a wholly-owned subsidiary of CMTH, which in turn is 100% indirectly owned by CMH, the ultimate holding company of the Company.
Accordingly, the establishment of CMF Technology Fund will constitute a connected transaction of the Company under Rule 14.23(1) of the Listing Rules. Pursuant to the Shareholders Agreement, Fair Win will invest US$18,600,000 (approximately HK$145,080,000) in CMF Technology Fund by way of subscription of shares. As such amount represents only 2.72% of the consolidated net tangible assets of the Company as disclosed in its audited accounts for the year ended 31 December 1999, no independent shareholders' approval is required under the Listing Rules. The Company will include details of the joint venture arrangements in its next published annual report and accounts in accordance with the Listing Rules.
Business:
To make private equity investments in high technology companies in targeted sectors which include, amongst others, fibre optics, semiconductors, communications, software, biotechnology and advanced technologies associated with shipping and transportation in the Greater China region and in United States high technology companies which have the potential of establishing business relations with such high technology companies in the Greater China region.
Here's a connection to Clinton:
http://boston.bcentral.com/bos ton/stories/1997/03/03/story1. html
"The Internet actually started for the research academic environment," said Ching-Chih Chen, a professor in Simmons College's graduate school of library and information science. "But now, it's used so widely for business and commercial, it's too slow."
Chen recently was appointed by President Bill Clinton to a 20-member Advisory Committee on High-Performance Computing and Communications, Information Technology and the Next Generation Internet.
"This is Wahr!!"--- James Carville ???
Faction vs. Faction ??
I don't buy the 587 mechanical failure theories. I think it was bombed to coincide with the UN General Assembly and George Bush being in New York that day. I think Predident Bush was standing at Ground Zero at the time the plane crashed.
I think the flight was picked for the timing, and maybe for the fact Dominicans take a lot of stuff home with them for the relatives - stuff like appliances, radios, etc. that could more readily carry a disguised bomb.
I think the key to solving 587 will be to track the contacts of the people on the flight (none have obviously Moslem names) or check to see if one of the passengers was an African Moslem with a fake ID. It is also possible the bomber never boarded the plane, depending on whether baggage was cross-checked with boarded passengers, and there is beter than an outside chance it was ground crew that loaded a baggage bomb (JFK is known for theft and smuggling rings) knowingly or otherwise.
Of the people on the plane, I would think Taiwanese businessmen would be the least likley to be carrying a microwave or stereo back home for the relatives.
But seriously: did you know "airframe rattle" was a phrase made up for the 587 investigation. I did a Google search to see what "airframe rattle" refers to. Nothing. As far as I can tell that phrase has never been used in an accident investigation before 587.
Could be that was the sound of a bomb going off in the baggage compartment. Even if it was very loud, the CVR only records within a certain fairly narrow dynamic range (the same reason music sounds bad over the phone). I think "airframe rattle" is a bogus interpretation of "a loud sound that indicates something really bad happened."
IMO, no one but the most dedicated reader is going to take the time to read and process that jumbled mass of text, which means that hours of my time were wasted.
It's only common courtesy.
It's just that you cut and pasted exactly what I sent through private Freepmail without asking. I was going to do more investigating today before dumping incomplete research out on a thread like that.
Look, I'm not mad, just irritated as hell. It was probably a misunderstanding because someone didn't show good judgement and think to ask.
I've leaving for the day and didn't want to go away on such a sour note. I would just appreciate it if that doesn't happen again.
And there is a "cha-ching" sound when a fool and his money are parted!
Sheeeeesh
You seem to shun a Chinese connection. Might not Osama Bin Laden be a Chinese agent? Bill Clinton was.
This ought to make it simple for readers:
"CMF Technology will take stakes in companies developing fiber optics, semiconductors, software and BIOTECHNOLOGY, China Merchants said. It will also invest in U.S. and Chinese companies developing shipping technology.
P.S. Don't blame Phil. My conscience made me impetuous.
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