Thursday 15th October 2015

Dear Reader,

NEW ARTICLE
The six invalid directors of Sunway (0058)
Our analysis shows that 6 people appointed as directors before the 2015 AGM failed to stand for election at the meeting and hence ceased to be directors, so Sunway currently only has 4 valid directors. We also look at the acquisition in relation to which one of the invalid directors and the Guarantor are now being sued by Sunway, which has reported them to the Zhuhai PSB. (15-Oct-2015)

RECENTLY IN WEBB-SITE REPORTS
KTL (0442) just believes
KTL's "reasons" for a stock split proposal are just beliefs without reason, and those beliefs are wrong. (14-Oct-2015)

CAID (0048) gains from umbrella bubble
Following a Webb-site complaint to regulators, CAID has revealed 3 holdings, including umbrella maker China Jicheng (1027), still trading at over 70x NAV. CAID expects the investments to contribute a positive return in the near future, but doesn't say why. Meanwhile Lerado (1225) hasn't said how it made similar gains. Is it also in the umbrella bubble? (10-Oct-2015)

IN OTHER NEWS
Hao Wen (8019): our new ED isn't SFC-licensed after all
Company announcement, 14-Oct-2015
This follows a Webb-site filed a complaint that we could not find Annie Tsui (who gives no Romanised Chinese name) in Webb-site Who's Who, which includes all SFC licensees, past and present.

And much more besides...
Remember that, apart from our occasional artisan articles, you can follow Webb-site Reports via RSS, Twitter or Facebook.

Pass it on!
This free newsletter goes to over 21,000 subscribers. If you enjoy the site, then please invite a friend to find out what they are missing and subscribe!