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Crony capitalism pushed to the extreme

Anonyme, Domingo, Octubre 10, 2004 - 22:44

Au-Yang Cheong Tak

My full-time job for the past three years was being an entrepreneur looking for funding of my tech projects. It may seem awkward and irrelevant. But the story is a lot darker, more sophisticated and far-reaching than that. It is my firm belief that I have been targeted and the market is rigged to an impossible extent that plenty of VCs, media and influential businessmen are involved. The conspiracy is to isolate me so that assigned people can profit from those lucrative opportunities. This is one scandal that most if not all media dare not to unearth because of the vested interests. A blatant fraud that is of Enron's scale and potentially send shock waves across Asia and beyond.

CHRONOLOGY OF EVENTS

Feb 2001 to May 2001 - I started applying jobs with multinational corporations (overseas) in the field of mobile communications.

14th May 2001 - A letter was sent to Richard Li of Hong Kong’s Pacific Century Cyberworks applying for a job in the proposed venture. No more communication was made. But it did not stop there. For almost three years, my sensitivity and intuition woke me up and inspired my fear of ideas being stolen by him and his cronies. In retrospect, all hell broke loose after the letter. It was like telling gangsters that their is an opportunity and more to come to make big money.

May 2001 to Nov 2001 - Similar letters were sent to other companies (overseas) applying for jobs.

Nov 2001 - I decided to do Stoneaxe myself.

Nov 2001 to Feb 2004 - Different business plans and executive summaries were sent to VCs (overseas) and private investors (local and overseas) covering Stoneaxe. Some included the addition of the advanced materials project (called SX Auxiliary back then).

Feb 2004 to Apr 2004 - Presentations were sent to VCs (overseas) and private investors (local and overseas) selling the Rocket and Ship Venture.

19th May 2004 - Rocket, Ship and Highway Venture started listing on eBay.

Jun 2004 to Jul 2004 - E-mails were sent to various VCs, venture consultants, corporate finance firms and investment banks (overseas) informing the existence of such a venture.

Jul 2004 to Aug 2004 - I started using LinkedIn network.

Jul 2004 to Aug 2004 - I finally realised that the market is so rigged that getting funding is impossible. E-mails were sent to various media in the hope that this extraordinary story will be covered.

BRIEF INTRODUCTION TO HONG KONG - THE DARK CITY

To understand Hong Kong, one must realise that it is an experimental city run apparently by the chief executive Tung Chee Wha, someone designated by Central Government of China with no accountability to HongKongers at all. The new and unfitting ruling class and the general public without the slightest sense of citizenship or community (result of more than 100 years of colonial rule) are what constitute this society.

The mishandling of SARS which ultimately inflicted 299 deaths here, and the subsequent tactic (usual) of delaying the investigation hoping that this fiasco may fade away best illustrate their incompetence. Tung finally got rid of the health secretary reluctantly but only after severe pressure from the legislators and media, in fear of another mass protest that may “destabilise



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