IKEA removes smart-home products from HK, citing National Security Law
Not entirely consistent with the Government's goal to make Hong Kong a Smart City by investing hundreds of HK$ billions into "Innovation and Technology". (12-Sep-2024)

Putting Police in the Policy Address
A new name would set the right tone. (18-Aug-2024)

Meaningless board games at HKEX, and how the UK FCA has just made an awful mistake
We review the proposals for a 6-seat and 9-year limit on so-called INEDs, along with other changes that do nothing to address HK's corporate governance deficit. Meanwhile, a slow-motion disaster is underway in the UK as it scraps fundamental investor rights. (28-Jul-2024)

An open letter to the Board of Time Watch (2033)
 (5-Jun-2024)

Another open letter to the Board of Allan (0684)
 (4-Jun-2024)

Help maintain the Webb-site Database
We are commencing the transition of the Webb-site Database to a crowd-sourced model. Whether it survives our Founder's doom depends on whether you, the users, are willing to volunteer your time, in a "Webbipedia" crowd-sourcing of corporate data. So please get involved, and you may get a free lunch at the end of the year. (19-May-2024)

The HK budget supercomputer hallucination
According to Paul Chan's budget speech, at undisclosed taxpayer expense, HK is supposed to produce a machine 3 times more powerful than the world's current fastest, within 2 years, and without using the best chips which were banned by the USA from export to HK following imposition of the National Security Law on HK. (2-Mar-2024)

HK's Rates reforms: damage to property values, needless complexity and misdirected handouts
It's not too late for the Government to return to fiscal sanity with a simple Rates system rather than practice the populist politics of petty envy. (30-Jan-2024)

Breaking: HK Government withholds Task Force report, citing threat to financial markets stability
We asked for the report. They refused. Now we're really wondering what's in it. (29-Jan-2024)

Hong Kong Island, major vehicle exporter?
Transport Department data suggest that HK Island exported a net 1.25m vehicles in 2022, more than are on the roads in the SAR, and the Island is on track to beat that in 2023. Take a look at the data and tell us why! (9-Dec-2023)

Webb-site bubble warning: Qi-House (8395)
 (29-Oct-2023)

An open letter to the Board of Allan International Holdings (0684.HK)
 (10-Sep-2023)

At last, the Webb-site HKSAR Accounts Explorer
In honour of the 25th anniversary of the SAR, a new tool to deep-dive into its financial history. This may be our last major project, but we hope you will agree that it was worth the time. (14-Jun-2022)

HK is running out of time to re-join the World
As our Editor sits in the air-lock waiting to re-enter HK, he looks at the now-unconstitutional quarantine regulations and the harm they are doing to HK. (5-May-2022)

A manifesto for Hong Kong
If you're going to be Chief Executive and you don't have a manifesto or any policy expertise beyond Security, Webb-site is here to help! (13-Apr-2022)

Concentration warning in GHW (9933)
SFC, 15-Oct-2024
The top 20 holders have 97.83% at 27-Sep-2014.

SFC commences MMT proceedings against Dickson Poon alleging insider dealing and Dickson Concepts (0113) and its senior executives for late disclosure | MMT Notice
SFC, 15-Oct-2024
Dickson Poon has featured in Webb-site Reports several times in the last 25 years.

SFC fines Zheshang International Financial HK$2.66m for regulatory breaches | Statement of Disciplinary Action
SFC, 15-Oct-2024
Another case involving the "Xinguanjia" Customer-Supplied System, which was produced by Hengxin Software Ltd.

Court sets next hearing date for insider dealing case against Segantii Capital Management and its chief investment officer
SFC, 15-Oct-2024

SFC fines Xinhu International Futures (Hong Kong) Co. Ltd. HK$9m and suspends its former responsible officer Ngai Wai for 9 months | Statement of Disciplinary Action
SFC, 9-Oct-2024
Another case involving the "Xinguanjia" Customer-Supplied System, which was produced by Hengxin Software Ltd.

SFC fines CSC Futures (HK) Ltd HK$4.95m for regulatory breaches | Statement of Disciplinary Action
SFC, 9-Oct-2024
Another case involving the "Xinguanjia" Customer-Supplied System, which was produced by Hengxin Software Ltd.

Fugitive ramp-and-dump core suspect arrested in Singapore and surrendered to HK to face securities fraud charge
SFC, 4-Oct-2024

Sanction of 3 ex-directors of YNBY (0030)
SEHK, 3-Oct-2024
For failing to co-operate with an investigation.

Ex-director of subsidiary of ASMPT (0522) and merchant charged for alleged HK$6m bribery deal
ICAC, 2-Oct-2024

SFC fines Profitech Securities Ltd HK$3.99m for regulatory breaches | Statement of disciplinary action
SFC, 30-Sep-2024
Including a late-reported change of ownership from a "Mr T" on 1-Mar-2021. No, probably not the actor from the A-Team.

PECS Register monthly update
HK Government, 30-Sep-2024
What ex-Senior Civil Servants have been doing since they left office.

Tenwow (ex-1219) v PwC HK & PwC Zhong Tian LLP
HK Court of First Instance, 30-Sep-2024
Justice Anthony Chan criticises the defence for "8 pages of dense arguments" which are not proper grounds of appeal. "A carpet-bombing strategy was adopted where every conceivable point is taken or reargued." He refuses leave to appeal but grants a 7-day stay so that PwC can appeal directly to the Court of Appeal.

SFC seeks share repurchase order for independent minority shareholders of LET (1383) and Summit Ascent (0102)
SFC, 27-Sep-2024
Due to alleged misconduct by Chairman Andrew Lo Kai Bong. In fact he's not just the Chairman, he's the only director of both listed companies. He can hold board meetings in his toilet.

Sanction of 3 ex-directors of National Arts (ex-8228)
SEHK, 24-Sep-2024
In 2 deals worth HK$108.8m, the company issued shares to buy companies which had not yet paid for properties under development in Malaysia. The vendors of the companies defaulted on their obligations to complete the purchases.

SFC suspends Wilson Cheung Kin, ex-Ever-Long Securities, for 9 months over sponsor failures
SFC, 23-Sep-2024
The case against Ever-Long is ongoing, so we don't yet know to what listing application this relates. Ever-Long is a subsidiary of Styland (0211), which has featured in Webb-site Reports many times over decades.

SFC bans Dennis Cheng Chung Sing, ex-Goldman Sachs, for 6 months | Statement of Disciplinary Action
SFC, 23-Sep-2024

Winding up order for Brite Advisory Group Ltd
HK Court of First Instance, 23-Sep-2024
The firm was renamed last week to BAG HK Ltd. We believe it is the top company in the Brite group, which is in trouble in multiple countries including Australia (also being wound up) and USA. The firm belatedly claimed that Mark Donnelly, who acted as CEO and founder, did not have authority to sign the loan from petitioner, Heritage Management Consultancy FZE. The court rejected all the defences.

SFC secures first-of-its-kind settlement to compensate public shareholders of Combest (ex-8190)
SFC, 16-Sep-2024
Webb-site filed a detailed complaint on this matter with the SFC on 21-Dec-2017.

Concentration warning in Pak Tak (2668)
SFC, 16-Sep-2024
The top 26 holders have 95.35% at 4-Sep-2024.

Alan Chan Wai Hon v Foebe Chan Yuk
HK Court of First Instance, 13-Sep-2024
Alan Chan succeeds in his claim for repayment of loans to Ms Chan, then Chairman of China Zenith Chemical (0362) who succeeded her ex-boyfriend Jimmy Chan Yuen Tung as Chairman in 2012. The court accepted Alan's testimony that he was trading and holding shares of CZ at her direction. This implies that as a CZ director, she failed to disclose her dealings in those shares. If she was acting in concert with Jimmy Chan then there would also be implications under the Takeovers Code, as together they obtained more than 30% of CZ.