Martin International: Recovery expected?

Just bought a few of these as a speculation. I wonder if one of you MTA experts can help me with some information.

Crystal Martins Ltd holds 27.7%. I take it that this is a Hong Kong company which is also engaged in joint venture production with Martins, and that it bought its stake a couple of years ago to save Martins from the knacker's yard.

S.C.Y. Ling, a director of Martins, holds 10%, and also holds 4m 8.25% cumulative redeemable preference shares (redeemable on demand for $4m, although he has said that he will not ask for them to be redeemed before April 2004).

Does anyone know who S.C.Y. Ling is, and whether he is connected with Crystal Martins Ltd? If he is, they have an unassailable 37.7% between them.

However, I assume that if that were the case, Peter Gyllenhammar would not have wasted his money accumulating his stake, which now amounts to 25.9% or so, and which he is still adding to.