Vision Values Holdings

Vision Values Holdings Limited is a Cayman Islands-incorporated company associated with Hong Kong's listed-company market. Its corporate identity has changed several times as a result of acquisitions and backdoor listings. Before adopting the Vision Values Holdings name in 2010, the listed vehicle had operated under the names Wah Yik Holdings, Asia Logistics Technologies, and New World Mobile Holdings. The company's most significant operating history is connected with New World PCS, a Hong Kong mobile network operator that was owned through the New World Development group. In 2004, Asia Logistics Technologies acquired New World PCS Holdings and related subsidiaries from New World Telephone Holdings, a wholly owned subsidiary of New World Development. The transaction functioned as a backdoor listing, placing the New World PCS telecommunications business into the already listed Asia Logistics Technologies vehicle. Following the transaction, Asia Logistics Technologies changed its name to New World Mobile Holdings. The telecommunications business later became part of a restructuring of Hong Kong mobile operations. In March 2006, New World PCS merged with Hong Kong CSL Limited to create CSL New World Mobility. At that time, Telstra held 76.4 percent of the intermediate holding company and New World Mobile Holdings held 23.6 percent. New World Mobile Holdings sold its minority interest to its parent company, New World Development, in October 2006. The following month, New World Development sold a 58.04 percent stake in New World Mobile Holdings to Moral Glory International, a private company then owned by Hong Kong businessman Simon Lo. Moral Glory International subsequently made a mandatory general offer for the remaining shares in February 2007. In May 2007, Mongolia Energy Corporation, the successor to New World Cyberbase, sold an 8.32 percent interest in New World Mobile Holdings into the public market. The company adopted the name Vision Values Holdings in 2010, marking another change in corporate identity after the telecommunications-related transactions and ownership changes. A later proposal involved issuing new shares to The People's Insurance Company of China, commonly known as PICC. The proposed transaction was terminated by PICC in 2016. The available reference material does not establish a current operating business, current ownership structure, current executives, or an active official website. Accordingly, Vision Values Holdings is best described as a historically significant Hong Kong-listed corporate holding vehicle rather than as a consumer-facing product brand.

Vision Values Holdings traces its listed-company history through several predecessor names and corporate restructurings. One predecessor was Wah Yik Holdings. The company later operated as Asia Logistics Technologies, a Hong Kong-listed entity that held a majority interest in New World Cyberbase. In 2004, immediately before the New World PCS transaction, Asia Logistics Technologies held a 27.48 percent interest in New World Cyberbase. New World Development held 5.60 percent of Asia Logistics Technologies, while Hong Kong businessman Simon Lo was its largest shareholder with 30.11 percent. In 2004, Asia Logistics Technologies acquired New World PCS Holdings and its subsidiaries, including New World PCS, from New World Telephone Holdings, a wholly owned subsidiary of New World Development. The transaction was structured as a backdoor listing. After the acquisition, the listed company changed its name to New World Mobile Holdings. Through this structure, the New World PCS mobile-network business became associated with the listed vehicle rather than being introduced through a conventional initial public offering. The telecommunications business was subsequently reorganized. In March 2006, New World PCS merged with Hong Kong CSL Limited to establish CSL New World Mobility. Telstra owned 76.4 percent of the new intermediate holding company, while New World Mobile Holdings held 23.6 percent. New World Mobile Holdings sold that minority interest to New World Development in October 2006. In November 2006, New World Development sold 58.04 percent of New World Mobile Holdings to Moral Glory International, a private company owned at that time by Simon Lo. Following the change of control, Moral Glory International launched a mandatory public offer for the remaining shares in February 2007. In May 2007, Mongolia Energy Corporation, the successor of New World Cyberbase, sold an 8.32 percent stake in New World Mobile Holdings to the public market. The company changed its name again in 2010, becoming Vision Values Holdings. The new name reflected a further stage in the evolution of the listed corporate vehicle rather than the launch of a clearly documented consumer product line. A later proposal contemplated the issuance of new shares to The People's Insurance Company of China. PICC terminated that proposal in 2016. The available reference does not provide sufficient information to establish the company's current operations, management, ownership, website, or active trading status. Its documented historical importance therefore lies primarily in its succession of listed-company identities, reverse-takeover transactions, telecommunications assets, and changes of control.

• 2016

  Termination of proposed PICC share issue

  [1]Vision Values Holdingsen.wikipedia.org

  The People's Insurance Company of China terminated a proposal under which Vision Values Holdings would issue new shares to PICC.

• 2010

  Adoption of the Vision Values Holdings name

  [1]Vision Values Holdingsen.wikipedia.org

  New World Mobile Holdings was renamed Vision Values Holdings.

• 2007

  Mandatory public offer

  [1]Vision Values Holdingsen.wikipedia.org

  Moral Glory International launched a mandatory offer for the outstanding shares of New World Mobile Holdings.

• 2006

  Formation of CSL New World Mobility

  [1]Vision Values Holdingsen.wikipedia.org

  New World PCS merged with Hong Kong CSL Limited, creating CSL New World Mobility with Telstra as majority owner and New World Mobile Holdings as minority owner.

• 2006

  Sale of minority telecommunications interest

  [1]Vision Values Holdingsen.wikipedia.org

  New World Mobile Holdings sold its 23.6 percent interest in CSL New World Mobility to New World Development.

• 2006

  Change of control

  [1]Vision Values Holdingsen.wikipedia.org

  New World Development sold 58.04 percent of New World Mobile Holdings to Moral Glory International.

• 2004

  Acquisition of New World PCS Holdings

  [1]Vision Values Holdingsen.wikipedia.org

  Asia Logistics Technologies acquired New World PCS Holdings and related subsidiaries from New World Telephone Holdings in a transaction described as a backdoor listing.

• 2004

  Renaming as New World Mobile Holdings

  [1]Vision Values Holdingsen.wikipedia.org

  Following the New World PCS transaction, Asia Logistics Technologies adopted the New World Mobile Holdings name.

A listed corporate holding vehicle with a history spanning telecommunications and technology-related assets rather than a conventional consumer brand.

• Mobile telecommunications network

  New World PCS

  New World PCS was a Hong Kong mobile network operator owned through the New World Development group. It was acquired by Asia Logistics Technologies in 2004 through the transaction that created the New World Mobile Holdings identity. In 2006, New World PCS merged with Hong Kong CSL Limited to form CSL New World Mobility.

• 2016

  Termination of proposed PICC share issuanceStrategy

  Background

  Vision Values Holdings proposed issuing new shares to The People's Insurance Company of China.

  Action taken

  PICC terminated the proposed transaction.

  Aftermath

  The proposed share issue did not proceed. The available reference does not state a replacement transaction or the subsequent operating strategy.

  Source

• 2010

  Corporate name change to Vision Values HoldingsOther

  Background

  The listed company had previously operated under the New World Mobile Holdings, Asia Logistics Technologies, and Wah Yik Holdings names.

  Action taken

  New World Mobile Holdings changed its corporate name to Vision Values Holdings.

  Aftermath

  The company continued under a holding-company identity distinct from the earlier New World PCS operating brand.

  Source

• 2006

  Merger of New World PCS and Hong Kong CSLM&A

  Background

  The Hong Kong mobile telecommunications assets were reorganized through a combination of New World PCS and Hong Kong CSL Limited.

  Action taken

  The two businesses were merged into CSL New World Mobility, owned 76.4 percent by Telstra and 23.6 percent by New World Mobile Holdings.

  Aftermath

  New World Mobile Holdings later sold its minority interest to New World Development in October 2006.

  Source

• 2004

  Backdoor listing through acquisition of New World PCS HoldingsM&A

  Background

  Asia Logistics Technologies was an existing Hong Kong-listed company, while New World Development sought a listed-company route for the New World PCS business.

  Action taken

  Asia Logistics Technologies acquired New World PCS Holdings and related subsidiaries from New World Telephone Holdings and subsequently changed its name to New World Mobile Holdings.

  Aftermath

  The transaction placed the New World PCS telecommunications business within the listed vehicle and began the company's New World Mobile Holdings phase.

  Source

• 2016

  PICC terminated proposed share issuance by Vision Values Holdings[1]Vision Values Holdingsen.wikipedia.org

  M&A

  A proposal for Vision Values Holdings to issue new shares to The People's Insurance Company of China was terminated by PICC.

• 2010

  New World Mobile Holdings changed its name to Vision Values Holdings[1]Vision Values Holdingsen.wikipedia.org

  Other

  The listed company adopted the Vision Values Holdings name after its earlier periods as Asia Logistics Technologies and New World Mobile Holdings.

• 2007

  Moral Glory International launched a mandatory offer for New World Mobile Holdings[1]Vision Values Holdingsen.wikipedia.org

  M&A

  After acquiring control, Moral Glory International launched a mandatory public offer for the remaining shares of New World Mobile Holdings.

• 2006

  New World PCS merged with Hong Kong CSL to form CSL New World Mobility[1]Vision Values Holdingsen.wikipedia.org

  M&A

  New World PCS was combined with Hong Kong CSL Limited in a telecommunications restructuring. Telstra held the majority of the resulting intermediate holding company, while New World Mobile Holdings retained a minority position.

• 2006

  New World Mobile Holdings sold its CSL New World Mobility interest[1]Vision Values Holdingsen.wikipedia.org

  Other

  New World Mobile Holdings disposed of its 23.6 percent interest in CSL New World Mobility to New World Development.

• 2006

  New World Development sold control of New World Mobile Holdings[1]Vision Values Holdingsen.wikipedia.org

  M&A

  New World Development sold a 58.04 percent stake in New World Mobile Holdings to Moral Glory International, a private company owned at the time by Simon Lo.

• 2004

  Asia Logistics Technologies acquired New World PCS Holdings in a backdoor listing[1]Vision Values Holdingsen.wikipedia.org

  M&A

  Asia Logistics Technologies acquired New World PCS Holdings and related subsidiaries from New World Telephone Holdings, bringing the New World PCS mobile-network business into the listed company.

1. 1Vision Values Holdingsen.wikipedia.org