Final Word from Tuesday, June 12, 2018

Despite public proclamations to the contrary from Pres. Miloš Zeman and others, there is no publicly available information in Czech or English proving that CITIC Group of China has any direct or indirect shareholding in CEFC Group (Europe) Company. New documents filed last week with the Prague commercial registry confirm that Shanghai Huaxin Group (Hongkong) Limited is still the 100% shareholder. A certain Xia Ren is the new CEFC Europe chair, but she isn't yet officially registered, and there is no hard evidence that she is in any way connected to CITIC or its Rainbow Wisdom unit, as claimed by CEFC Europe in a press release. This is still 100% the Jaromír Tvrdík show. He runs CEFC Europe as the vice chairman, represents the parent company (Shanghai Huaxin) with a power of attorney, and appoints one of his Prague translators to the CEFC supervisory board to oversee him. This gives the impression that Tvrdík is buying time, but for what? [Czech Republic Hong Kong Citic]

Glossary of difficult words

Jarda - nickname for Jaroslav;

Prague translator - Ming Li;

power of attorney - written authority to act for another person in specified or all legal or financial matters;

to buy time - to delay an event temporarily so as to have longer to improve one's own position.


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