Source: Financial Times, 1st June 2011

Strengths: China. Weaknesses: China. Investors could be forgiven for skimming the 606-page prospectus for Resourcehouse, a coal and iron ore vehicle of the Australian real estate baron Clive Palmer, which is marketing a HK$26bn (US$3.3bn) initial public offering in Hong Kong. The gist is clear enough: although rooted in Australia, it is backed by Chinese investors, built by Chinese contractors, supplying Chinese customers. To the name of the company's two main projects, "China First," should really be added, " … and Last."