Originally Posted by
unitedabx
Freehills
1.The business expansion by Swire's in the PRC is not the same as here in HKG. Most are joint ventures with Swire's providing consultancy and management advice. Not a single property is a true Swire development. In HKG at the new Tung Chung Outlet mall expansion, formerly a Swire development is in fact a PRC company with Swire management.
2.Shenzhen Airlines has useful slots in Shenzhen easily absorbed by the new Air China Cathay operation.
3.Don'tkid yourself. Ask any Cx flight attendant.
Discussing with another Captain of similar seniority recently, we decided, "just follow the money". I think this was his/our takeaway:
Interesting!!!! The expansion of Swire's China property business, in partnership with Citic, coincided with the plumping up [of post-2008-crash] cash-strapped Noble Group [ a HK supply chain company listed in Singapore - think coal, bunker oil... and ....
jet fuel] The quid pro quo was alleged to have been the planned sale of said Noble Group to Chinachem: - thus ensuring Mainland supply of raw material. Unfortunately the sale was reportedly blocked in the WTO by the U.S.A. .... Geopolitics.
So where does Cathay Pacific fit into this? well other than taking a naked position on fuel hedges it is rather enlightening. The Cathay fuel hedge[s] coincided with increased of manpower on the Noble Group jet fuel desk.
Lead non-Executive Director of Noble Group? one Christopher Pratt!
So, just looking at the [alleged] other players in the game: KPMG: architects of the fuel hedge and coincidently CPGroup auditors, financed by HSBC [HK] amongst others. A perusal of the Board Members of these companies may reveal some further 'cross-pollination'.
Is CXgroup in play to placate Mainland interests? .... probably should go and ask Merlin about a planned sale to Air China.