----- Original Message -----  
From: Clifford S.  Ang  
To: Eric Saibi  
Sent: Monday, January 28, 2002 4:00 AM
Subject: RE: Hi!
That stuff on e-bay was cool.  At least you made  use of some of your Enron stuff.  It's great to hear that you're working  for UBS Warburg.  Which group are you with now?  
 
I think my dad is planning a trip to the Chicago Food  Show sometime in May.  I'm not sure on how that will go, but I may join him  then.  I also need to drop by Saint Louis to renew my driver's  license.  Besides, I haven't been back since graduation.  Adnan told  me that you just bought a place.  It would be great to visit you and Texas  for the first time.  I may stay longer with you guys (I also have a friend  living in Austin) before I finally come back home.  
 
My parents and I are going to China in March, and I was  surprised that they're asking my girlfriend to go along with us.  The Wash  U International Advisory Council Meeting will be held in China in March and I  will just catch them for their last leg.  
 
Business in the Philippines is really bad, and it's not  going anywhere in the near future.  I had this deal with Adnan last  December to January.  He wanted me to sell used hard disks to prospective  buyers in the Philippines.  I found one group and it took a long time to  get the goods here and out of customs.  Finally, during the first week of  January, the goods were released and shit turned worse.  The buyer claimed  that we shipped him 95% defective items.  Out of the 400+ hard drives,  around 200 had bad sectors (which were deemed to be good drives by most people),  21 were good, and the balance were either not detected or had this knocking  sound.  Anyway, I think Adnan was willing to give him some sort of refund  on the balance, but the guy kept on insisting for Adnan not to negotiate the  letter of credit.  The whole thing was so fucked up, and the guy was  implying that he was going to sue me for intentionally scamming him off  US$6,800.  I couldn't believe that he would think that I would destroy my  credibility for such a small amount of money.  Anyway, the problem seems to  be hanging out there, but the buyer had some fishy stuff going.  He called  me to go to his place and, when I arrived, they have finished testing all the  drives.  I mean, they should have waited for me to get there before testing  at least half of the drives for their own protection.  Now, we could not  tell whether the drives that were displayed (and they were displayed in an  extremely organized manner) were actually ours or not.  Second, his  unwillingness to take a refund instead of stopping the LC negotiation is  somewhat irregular.  We were thinking that maybe he doesn't have enough  funds in the bank or something to cover his line.  Third, he wanted to send  back all goods and charge it to us.  That way, if he indeed changed our  good drives with defective ones, he would have gotten 400 good drives and gotten  rid of his bad ones free of charge.  Adnan shipped 200 drives from the same  lot to his dad in Pakistan, and they came out around 12% defective.  Even  at that level, 50% seems to be too far away.  So, there, since we haven't  negotiated the letter of credit yet (it should be done within this week), I  haven't heard from the buyer.  I would not be surprised if I receive some  subpoena or something from the bastard after we negotiate the LC.  Anyway,  I asked my lawyer, and he said that there is really not much of a case on his  side.  Besides, all documents were made by Adnan and him.  He cannot  sue Adnan, so his only choice is to sue me ... if that's what he wants.   Well, let's see how it goes.
 
I got a bunch of financial consultancy work on the  side.  I arrange financing for some people with our bank contacts.   It's very tedious and time consuming to complete a deal.  Sometimes, the  odds of getting a good deal are very slim that I can't really depend on these  things for regular income.  I can't spend that much anymore.  I'm  saving up for my future.  I may actually get married in a year or  two.  I don't know yet, but this relationship is getting pretty serious and  I think that she's the one.  She's studying medicine and will be graduating  this April.  She'll have another year of internship before taking the  boards next year.  She wants to go to the US for her residency, but we'll  see how things go.  Any good medical schools/hospitals there in  Houston?  
 
Well, I gotta go now.  Just write when you have  time.
 
Cliff