The coming end of Webb-site
Unfortunately, there are going to be some more changes around here. Our founder explains why. Updated 17-Mar-2025: thanks for all the good wishes and stand by for a data and software dump. (12-Feb-2025)

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)

Lerado (1225): Breach of Listing Rules: undisclosed Discloseable and Major loans
Company announcement, 31-Mar-2025

Webb departs HK Takeovers and Mergers Panel after 24 years of service
SFC, 31-Mar-2025
Of which the last 12 were as a Deputy Chairman.

PECS Register monthly update
HK Government, 31-Mar-2025
What did retired senior HK civil servants get up to this month?

Court further adjourns insider dealing hearing against Wong Pak Ming
SFC, 27-Mar-2025

District Court sets trial dates for three sophisticated ramp-and-dump cases
SFC, 25-Mar-2025
The third trial won't even start until 6-Apr-2027.

SFC fines Enlighten Securities HK$5m and suspends RO Denny Kua Kong Chak for internal control failures over securities margin financing | Statement of Disciplinary Action
SFC, 24-Mar-2025

Concentration warning in Gain Plus (9900)
SFC, 20-Mar-2025
The top 27 holders had 92.81% at 10-Mar-2025.

Further adjournment for mention in false trading prosecution
SFC, 20-Mar-2025
Concerning alleged false trading in the shares of Pa Shun (0574).

SFC suspends finfluencer Franky Wong Ming Chung for 16 months
SFC, 20-Mar-2025
Last year he pleaded guilty to carrying on unlicensed advice on securities and was fined HK$10k

SFC bans Steven Wong Yung for 14 months for fund management failures
SFC, 19-Mar-2025
We note that he was formerly known as Wang Yong.

SFC seeks DQ and compensation orders against entire former board of 3DG Holdings (2882)
SFC, 14-Mar-2025
In fact the company announced the SFC's petition back on 31-May-2024. The SFC alleges that the acquisition of a money-lender and the creation of 12 "loans" (all of which defaulted) formed part of a scheme to misappropriate the group's cash. One of the INEDs involved, Anthony Fan Ren Da, still sits on the board of 8 HK-listed companies - 6 as INED and 1 each as NED and ED.

Sanction of Ms Cheung Yu Xuan (fka Cheung Ni), ex-ED of Orient Securities (8001)
SEHK, 12-Mar-2025
For failing to co-operate with an investigation.

SFC obtains DQ order against Sue Yang Shuyan, ex-financial controller of Anxin-China (ex-1149) | Judgment
SFC, 11-Mar-2025
Interestingly, the plea bargain between Ms Yang and the SFC of a 2-year disqualification was rejected by Justice Anthony Chan, who increased it to 3 years, describing her negligence of the false accounts as "nothing short of breath-taking".

Sanction of Fantasia (1777), Colour Life Services (1778) and 9 directors
SEHK, 6-Mar-2025
For evading the Listing Rules on Very Substantial Disposals by concocting a 1-day loan with security over the disposed asset. The loan then defaulted.

Sanction of MIE (1555) and Chairman Zhang Ruilin
SEHK, 4-Mar-2025
For abusing the listed company to guarantee his personal debts.

SFC obtains DQ orders against ex-EDs of Tech Pro Technology (ex-3823)
SFC, 3-Mar-2025
2 are disqualified for 7 years and 1 for 4 years. The orders were issued between 8-Jan and 27-Jan in 3 separate judgments, reports of which can be found on Webb-site.

PECS Register monthly update
HK Government, 28-Feb-2025
What ex-senior civil servants have been doing in their retirement.

SFC commences insider dealing prosecution against Wong Pak Ming
SFC, 27-Feb-2025
Raymond Wong Pak Ming is the ex-Chairman of Transmit Entertainment (1326) formerly known as Pegasus Entertainment. He is alleged to have engaged in insider dealing by tipping off an unnamed person in 2017. We note that he's also a member of the HKSAR Election Committee since 2011.

Government responds to provisional liquidation of Paul Y Engineering Group Limited
HK Government, 21-Feb-2025

Sanction of 2 ex-directors of Xinyuan Property Management Service (1895)
SEHK, 20-Feb-2025
They were sanctioned 2 years ago in a previous case, but this time it's for failing to cooperate into another investigation of pledged time deposits to support bank loans to the controlling shareholder.