Tuesday 5th February 2013
Dear Reader,
NEW ARTICLE
BSD and
SSD 2.0 - submission to LegCo
We dissect the proposed
Buyer's Stamp Duty and increase and expansion of Special Stamp Duty on
residential properties in HK. Government replies to Webb-site reveal that they
don't actually have data to support the discrimination between Permanent
Residents and Non-PRs, even if the duty were constitutional, which it is
not. (5-Feb-2013)
RECENTLY ON WEBB-SITE
The FSDC:
under development
The Financial Services Development Council
is apparently still under development itself. Confusion reigns over what form it
will take, how it will be funded (if at all), and even the identity of persons
appointed to it. We'll try to add some clarity. (24-Jan-2013)
IN OTHER NEWS
Sinocom (0299): breach of Listing Rules: unapproved loans
Company announcement, 30-Jan-2013
After a
takeover of Sinocom by a Japanese company last July, the bank accounts of
Sinocom's Japanese subsidiary have been raided for Y2.49bn (HK$211.65m)
outstanding in unapproved loans.
Webb on
"Backchat" re tunnel tolls and (at 45:30) directors' secrecy
RTHK, 30-Jan-2013
Charles Chan Chiu Kwok v HK Institute of Surveyors
HK Court of Final Appeal, 30-Jan-2013
"On 14
January 2010, the HKIS received from the [SFC] an anonymous complaint against Mr
Chan forwarded to the [SFC] by the [ICAC]. The complaint arose out of a
valuation report prepared by Mr Chan in relation to the public listing of a
company."
Winnie Ho Shuk Ching v George Lung Chee Ming
HK
Court of First Instance, 29-Jan-2013
An unlicensed person claims an
introductory fee for introducing business to a Manulife insurance agent.
Fear, fury over HK corporate privacy proposals
CNN, 28-Jan-2013
Aeon Credit (0900) terminates proposed loan to parent
Company announcement, 25-Jan-2013
This
follows Webb-site's article of 22-Jan-2013. Mission accomplished. Now what about
a special dividend, and a merger of greater China business into the company?
Pass it on!
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