On 18-Nov-2024, JPMorgan completed oustourcing its HK custodian business to HSBC, as shown in Webb-site CCASS Analysis | HSBC custody at 2024-11-18
 (20-Nov-2024)

Knock it off, Judiciary: HK courts don't use gavels
The HK Judiciary persists in promoting an object never used in courtrooms as a symbol of law and juridical work. Why not promote something else not found in courts, like a rocket? (19-Oct-2024)

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)

SFC suspends Wang Shian-tang, ex-Yuanta Securities, for 26 months | Statement of Disciplinary Action
SFC, 20-Nov-2024
We note that he was formerly named Wang Yi Tang. He had an unauthorised profit-sharing agreement with a discretionary client, and an undisclosed investment account with another broker.

SFC withdraws Restriction Notice to broker over client's suspected insider dealing after obtaining court order to freeze assets
SFC, 19-Nov-2024

Concentration warning in Sprocomm Intelligence (1401)
SFC, 19-Nov-2024
At 7-Nov-2024, 28 holders have 86.24%, another 4.76% has been withdrawn from CCASS but is still registered in the name of its nominee, leaving 9.00% in other hands. As of 19-Nov-2024, 12.79% of the stock was in CCASS and the market cap was HK$12.46bn. Net tangible assets at 30-Jun-2024 were CNY362m.

Ms Zuo Ping censured and cold-shouldered for 6 years for failing to make offer for CBK (8428) after buying 30% | Executive Statement
SFC, 15-Nov-2024

Sanction of Hung Dun Ching, ex-NED of Christine (1210)
SEHK, 14-Nov-2024
For failing to do the required training after a previous sanction.

District Court sets next hearing date for 3 ramp-and-dump cases
SFC, 12-Nov-2024

SFC takes ex-Chairman of Deng Yi Feng (0612) and 30 others to MMT, alleging manipulation of Smartac (ex-0395) shares | MMT Notice
SFC, 12-Nov-2024
The MMT Notice is dated 2-Sep, so it's taken over 2 months to publish. The details are so mind-numbing that we doubt that the Tribunal will be able to follow it. We wonder why the SFC even bothers with such cases, Nobody had to buy the stock, and everyone should have done their homework. There's no allegation of any false information about Smartac itself.

Ramp-and-dump case against surrendered fugitive transferred to District Court
SFC, 8-Nov-2024

SFC bans Jonathan Dominic Iu Wai Ching for 15 years
SFC, 6-Nov-2024

Ng Wai, ex-Deputy GM of Beijing Capital Land (ex-2868) and his mum charged with receiving bribe for overseas property projects
ICAC, 5-Nov-2024

Craft Bamboo Holdings Ltd v Richard Paul Coleman & another
HK Court of First Instance, 5-Nov-2024
Mr Coleman has obtained a UK bankruptcy order on his own application. The HK court, which was holding HK$400k of security for costs from each side, orders payment out to the plaintiffs.

Private cello tutor Ho Ka-yeung admits fraud over purchase of musical instrument
ICAC, 4-Nov-2024
He fiddled the client, claiming his cost of purchase from Chairman Instruments Trading Ltd was HK$24,300 when in fact he paid $18,000.

PECS Register monthly update
HK Government, 31-Oct-2024
The post-retirement jobs of senior HK civil servants.

First immediate jail sentence for convicted unlicensed activity with a compensation order
SFC, 30-Oct-2024
Ms Lai Ka Yi has been granted bail pending appeal against her conviction and 2-week sentence.

Tsang Chung Yu, ex-INED of Metaverse Yunji (ex-8287) and 11 others charged with alleged 66m share options fraud | ICAC announcement
SFC, 25-Oct-2024
We note that the 5-year options were granted on 8-Sep-2022, in the midst of a court battle for control of the board, exhausting the 10% limit in one go. All 10 recipients chose to exercise the options that day, with shares issued on 9-Sep-2022 and deposited with the same broker in CCASS. Only 2 purported directors, including Mr Tsang, signed the attendance sheet of the board meeting to grant the options. The other was ED Mr Cheng Kwan Yu, who is not charged. All 10 grantees are charged, along with a Chan Wai Lung, whose alleged role is not yet known. Helpfully, the ICAC routinely gives the ages of defendants. The SFC fails to do so, making it harder to identify them.

SFC obtains court order to freeze HK$6.35bn of assets belonging to suspected manipulators of Ding Yi Feng (0612) shares
SFC, 25-Oct-2024

Sanction of 2 ex-directors of Suchuang Gas (ex-1430)
SEHK, 22-Oct-2024
For failing to cooperate with an investigation. They are now about 72 and 76 years old, so being unsuitable for future HK-listed directorships probably doesn't weigh highly.

SFC obtains 3-year disqualification of Au Yeung Ho Yin, ex-CFO of Fujian Nuoqi (ex-1353) | Judgment
SFC, 18-Oct-2024

SFC suspends Amit Kishan Singh for 7 months | Statement of Disciplinary Action
SFC, 18-Oct-2024
He took a client with him to Bank Julius Baer from Bank J. Safra Sarasin, but faked the meeting log - he conducted account opening by phone rather than in a face-to-face meeting. He has since moved on to Carret Private Capital.

Trio charged with bribery and fraud over referral of bank clients' mortgage loan applications
ICAC, 17-Oct-2024
If the name seems familiar, ex-OCBC Bank employee Amy Chow Bik Sum was jailed for 4 weeks in 2023 after admitting a similar offence. This time she is charged with 2 others including an ex-ICBC (Asia) employee.