News
Sanction of Mr King Pak Fu, ex-Chairman of Carnival (0996)
SEHK, 21-Mar-2023
For failing to co-operate with an investigation by the Listing Division, this being the rational choice for someone who expects never to be on a listed company board again.
SEHK, 21-Mar-2023
For failing to co-operate with an investigation by the Listing Division, this being the rational choice for someone who expects never to be on a listed company board again.
Ex-legislator Albert Ho Chun Yan arrested by National Security Police while on bail
| Police statement
HK Free Press, 21-Mar-2023
Police: "for perverting the course of public justice". This follows the earlier arrest of his brother, lawyer Frederick Ho Chun Ki, and Marilyn Tang Yin Lee, sister of Tang Elizabeth Yin Ngor, who was earlier arrested after visiting her husband, ex-legislator Lee Cheuk Yan, in jail. Elizabeth Tang was suspected of collusion with foreign forces. Marilyn Tang and Frederick Ho were suspected of removing evidence.
HK Free Press, 21-Mar-2023
Police: "for perverting the course of public justice". This follows the earlier arrest of his brother, lawyer Frederick Ho Chun Ki, and Marilyn Tang Yin Lee, sister of Tang Elizabeth Yin Ngor, who was earlier arrested after visiting her husband, ex-legislator Lee Cheuk Yan, in jail. Elizabeth Tang was suspected of collusion with foreign forces. Marilyn Tang and Frederick Ho were suspected of removing evidence.
AMCO (0630): INED Mr Chan Tsz Keung under investigation
Company announcement, 16-Mar-2023
AMCO was a member of our 2017 "Enigma Network". Mr Chan was then SFC-licensed at Suncorp Securities, owned by Suncorp (1063), another Enigma company, and in 2018 moved to Astrum Capital Management (a broker in the network) until 2021. Today's announcement coincides with an SFC-ICAC investigation of an alleged pump-and-dump syndicate announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". We've already seen another Enigma company, CAID (0048) announced that an ED is under investigation.
Company announcement, 16-Mar-2023
AMCO was a member of our 2017 "Enigma Network". Mr Chan was then SFC-licensed at Suncorp Securities, owned by Suncorp (1063), another Enigma company, and in 2018 moved to Astrum Capital Management (a broker in the network) until 2021. Today's announcement coincides with an SFC-ICAC investigation of an alleged pump-and-dump syndicate announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". We've already seen another Enigma company, CAID (0048) announced that an ED is under investigation.
Sanction of Ms Li Luyi and Mr Wang Dongfeng, ex-Chairs of Forgame (0484)
SEHK, 16-Mar-2023
For massive losses on corporate loans.
SEHK, 16-Mar-2023
For massive losses on corporate loans.
China Automotive Interior Decoration (0048): an ED is under investigation
| Supplement
Company announcement, 15-Mar-2023
This coincides with an SFC-ICAC joint arrest operation announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". CAID was one of 50 listed companies in our "Enigma Network" of 2017. The supplemental announcement names the ED as Warren Wong Ho Yin.
Company announcement, 15-Mar-2023
This coincides with an SFC-ICAC joint arrest operation announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". CAID was one of 50 listed companies in our "Enigma Network" of 2017. The supplemental announcement names the ED as Warren Wong Ho Yin.
5 more arrested in SFC-ICAC joint operation against sophisticated ramp-and-dump syndicate
SFC, 15-Mar-2023
SFC, 15-Mar-2023
Founder (0418): INED Mr Lau Ka Wing is under investigation by a HK authority
| Update
Company announcement, 15-Mar-2023
The Board was "made aware from announcements published by other listed companies" and "has not been able to reach Mr Lau". Update: he has resigned from Founder "due to his other business commitments".
Company announcement, 15-Mar-2023
The Board was "made aware from announcements published by other listed companies" and "has not been able to reach Mr Lau". Update: he has resigned from Founder "due to his other business commitments".
ABC Multiactive (8131): ED Mr Lau Ka Wing is under investigation by a HK authority
Company announcement, 15-Mar-2023
The board was "made aware from the published news with the Stock Exchange" and "has not been able to contact Mr. Lau".
Company announcement, 15-Mar-2023
The board was "made aware from the published news with the Stock Exchange" and "has not been able to contact Mr. Lau".
Green Energy (0979): INED Mr Lau Ka Wing is under investigation by a HK authority
Company announcement, 14-Mar-2023
The company "has not been able to reach Mr Lau".
Company announcement, 14-Mar-2023
The company "has not been able to reach Mr Lau".
Marilyn Tang Yin Lee, sister of Elizabeth Tang Yin Ngor, and lawyer Frederick Ho Chun Ki released on bail in NSL case
| Police statement
HK Standard, 12-Mar-2023
Police: "before Police officers' search operation conducted earlier at a premise with a court warrant, the two arrested persons were suspected of taking away exhibits related to a "collusion with a foreign country or with external elements to endanger national security" case in an attempt to obstruct Police's investigation".
HK Standard, 12-Mar-2023
Police: "before Police officers' search operation conducted earlier at a premise with a court warrant, the two arrested persons were suspected of taking away exhibits related to a "collusion with a foreign country or with external elements to endanger national security" case in an attempt to obstruct Police's investigation".
Elizabeth Tang arrested by National Security Police after visiting ex-legislator husband Lee Cheuk Yan in prison
| Police statement
HK Free Press, 9-Mar-2023
Police: "for suspected collusion with a foreign country or with external elements to endanger national security, contravening Article 29 of the National Security Law."
HK Free Press, 9-Mar-2023
Police: "for suspected collusion with a foreign country or with external elements to endanger national security, contravening Article 29 of the National Security Law."
Sanction of Ms Lu Wei and Prof Liu Zhikun, ex-directors of China Bozza (1069)
SEHK, 6-Mar-2023
For failing to co-operate with an investigation by the Listing Division.
SEHK, 6-Mar-2023
For failing to co-operate with an investigation by the Listing Division.
SFC bans Wong Kwun Shing, ex-Convoy (now OnePlatform) Asset Management, for life
| Statement of Disciplinary Action
SFC, 1-Mar-2023
For involvement in a stock ramp in unnamed "Company A". We can tell you: it was TEM Holdings Ltd (8346), a GEM bubble which collapsed from $7.80 to $0.93 in 4 days in July 2016. Mr Wong procured an unnamed colleague, X, to recruit buyers for the stock. X admitted his involvement. The SFC doesn't say whether action is being taken against Mr X.
SFC, 1-Mar-2023
For involvement in a stock ramp in unnamed "Company A". We can tell you: it was TEM Holdings Ltd (8346), a GEM bubble which collapsed from $7.80 to $0.93 in 4 days in July 2016. Mr Wong procured an unnamed colleague, X, to recruit buyers for the stock. X admitted his involvement. The SFC doesn't say whether action is being taken against Mr X.
China Taiping Life Insurance agent and wife charged with over HK$490k commissions fraud
ICAC, 28-Feb-2023
Mr Yau Siu Kei allegedly sold a life insurance policy to his wife and they exaggerated her monthly income from $47k to $100k, earning him a commission of $490k, another indication of just how inefficiently-priced these products are,
ICAC, 28-Feb-2023
Mr Yau Siu Kei allegedly sold a life insurance policy to his wife and they exaggerated her monthly income from $47k to $100k, earning him a commission of $490k, another indication of just how inefficiently-priced these products are,
Sanction of Hygieia (1650) and 3 directors
SEHK, 28-Feb-2023
Concerning undisclosed diversion of IPO proceeds into an investment and various questionable service agreements. This involves fees paid to some of the same firms as a similar sanction of Raffles Interior (1376) in Dec-2022, including Leo Asset Management Ltd, Share News Media Ltd and Easy Global Profits Ltd. Both listings involved Singapore-based companies. In both cases, IPO funds were invested in a company "engaged in the trading of antique jewellery". In Hygieia's case this is named as Luck Rise Dragon Ltd. Leo is owned by Roma (8072).
SEHK, 28-Feb-2023
Concerning undisclosed diversion of IPO proceeds into an investment and various questionable service agreements. This involves fees paid to some of the same firms as a similar sanction of Raffles Interior (1376) in Dec-2022, including Leo Asset Management Ltd, Share News Media Ltd and Easy Global Profits Ltd. Both listings involved Singapore-based companies. In both cases, IPO funds were invested in a company "engaged in the trading of antique jewellery". In Hygieia's case this is named as Luck Rise Dragon Ltd. Leo is owned by Roma (8072).
Executive acquitted of murdering mistress
HK Standard, 28-Feb-2023
He is instead convicted of manslaughter. In his original trial he denied killing her. That conviction was quashed on jury misdirection, and on retrial he admitted the killing and was convicted of murder a second time, but the judge failed to direct the jury on the partial defence of provocation and the alternative verdict of manslaughter. Third time lucky: the jury accepted his plea of provocation.
HK Standard, 28-Feb-2023
He is instead convicted of manslaughter. In his original trial he denied killing her. That conviction was quashed on jury misdirection, and on retrial he admitted the killing and was convicted of murder a second time, but the judge failed to direct the jury on the partial defence of provocation and the alternative verdict of manslaughter. Third time lucky: the jury accepted his plea of provocation.
SFC bans thief Chan Wai Chun, ex-Dah Sing Bank, for life
| Reasons for sentence
SFC, 27-Feb-2023
Last year he was jailed for 32 months for ripping off an 86 year-old client, Madam Chan Kin, for HK$1.195m.
SFC, 27-Feb-2023
Last year he was jailed for 32 months for ripping off an 86 year-old client, Madam Chan Kin, for HK$1.195m.
Ex-director of subsidiary of China Railway Construction (1186) charged over HK$75.3m L/C fraud
ICAC, 23-Feb-2023
Zheng Zhong was arrested on his arrival in HK. 2 of his alleged co-conspirators were earlier tried, convicted and jailed.
ICAC, 23-Feb-2023
Zheng Zhong was arrested on his arrival in HK. 2 of his alleged co-conspirators were earlier tried, convicted and jailed.
Ex-Vitasoy (0345) manager charged with concealing conflict of interest in adverts worth HK$1.9m
ICAC, 23-Feb-2023
ICAC, 23-Feb-2023
Defendant in FWD-Sun Life dummy insurance agents commissions fraud case faces 19 additional charges
ICAC, 21-Feb-2023
The 18 defendants now face a total of 20 charges, namely 2 of conspiracy to defraud and 18 of conspiracy to launder crime proceeds, involving 478 insurance policies and commissions totalling about HK$50m.
ICAC, 21-Feb-2023
The 18 defendants now face a total of 20 charges, namely 2 of conspiracy to defraud and 18 of conspiracy to launder crime proceeds, involving 478 insurance policies and commissions totalling about HK$50m.
China Renaissance (1911): our Chairman/CEO Bao Fan is missing
Company announcement, 16-Feb-2023
CR fails to state how long they have been unable to contact him. Days? Weeks? Months? It matters. Maybe he's just gone camping without his phone, as one does. Or more likely, he's under arrest.
Company announcement, 16-Feb-2023
CR fails to state how long they have been unable to contact him. Days? Weeks? Months? It matters. Maybe he's just gone camping without his phone, as one does. Or more likely, he's under arrest.
Tai United (0718): remember that Jinzhou shopping mall we bought from Dai Yongge?
Company announcement, 13-Feb-2023
Well it turns out that it came with a hidden CNY1.7bn bank guarantee in favour of a third party, and now the loan is in default and we're being sued for it. Mr Dai is is the controlling shareholder and former Chairman & CEO of China Dili (1387)
Company announcement, 13-Feb-2023
Well it turns out that it came with a hidden CNY1.7bn bank guarantee in favour of a third party, and now the loan is in default and we're being sued for it. Mr Dai is is the controlling shareholder and former Chairman & CEO of China Dili (1387)
AXA China Region again allegedly conned into paying commissions
ICAC, 1-Feb-2023
Yuki Fan Ting Yan is charged with defrauding AXA of HK$1.9m in commissions and bonuses. As long as the industry offers large up-front rewards built into product prices, it will keep the ICAC busy at taxpayers' expense. Insurers should pay the ICAC a commission too.
ICAC, 1-Feb-2023
Yuki Fan Ting Yan is charged with defrauding AXA of HK$1.9m in commissions and bonuses. As long as the industry offers large up-front rewards built into product prices, it will keep the ICAC busy at taxpayers' expense. Insurers should pay the ICAC a commission too.
Sanctions on China Gem (1191) and 7 directors
SEHK, 1-Feb-2023
For failure to co-operate with an investigation into certain transactions and a resulting impairment in the 2019 results. The statement is dated 30-Dec-2022 and was held back for a month, perhaps because it was price-sensitive: It states that the stock listing should be cancelled if any of 5 directors remain on the board 14 days after the statement. They all resigned on 12-Jan-2023.
SEHK, 1-Feb-2023
For failure to co-operate with an investigation into certain transactions and a resulting impairment in the 2019 results. The statement is dated 30-Dec-2022 and was held back for a month, perhaps because it was price-sensitive: It states that the stock listing should be cancelled if any of 5 directors remain on the board 14 days after the statement. They all resigned on 12-Jan-2023.
SFAT affirms SFC fine of Cardinalasia Consulting Ltd HK$1.5m, imposes heavier suspension on RO Edward Lee Shiu Lun, for failures in managing private funds
| SFAT decision
SFC, 30-Jan-2023
There's a much bigger story beyond this case, involving Anthony Yeung Chun Wai and allegedly, Mr Deng Jun Jie.
SFC, 30-Jan-2023
There's a much bigger story beyond this case, involving Anthony Yeung Chun Wai and allegedly, Mr Deng Jun Jie.
Alvin Chau: Macau gambling kingpin jailed for 18 years
| Hall of Shame
BBC, 18-Jan-2023
And with that, the former Chairman of 3 HK-listed companies is inducted into our "Hall of Shame".
BBC, 18-Jan-2023
And with that, the former Chairman of 3 HK-listed companies is inducted into our "Hall of Shame".
Sanction of Agritrade Resources (ex-1131) and 5 directors
| Related announcement
SEHK, 16-Jan-2023
Mr Ashok Kumar Sahoo basically helped himself to a 15% stake in the group's Indian power plant and without telling the other directors or obtaining shareholders' approval. 3 of the directors are sanctioned for failing to co-operate with the investigation.
SEHK, 16-Jan-2023
Mr Ashok Kumar Sahoo basically helped himself to a 15% stake in the group's Indian power plant and without telling the other directors or obtaining shareholders' approval. 3 of the directors are sanctioned for failing to co-operate with the investigation.
Sanctions against 2 more executive directors of Inno-Tech (ex-8202)
SEHK, 12-Jan-2023
For failure to co-operate with an investigation by the for-profit, toothless regulator. Increasingly, that seems to be the most popular response amongst directors of failed companies as they have no realistic prospect of returning to the HK market. By the way, Webb-site warned investors about this stock 11 years ago.
SEHK, 12-Jan-2023
For failure to co-operate with an investigation by the for-profit, toothless regulator. Increasingly, that seems to be the most popular response amongst directors of failed companies as they have no realistic prospect of returning to the HK market. By the way, Webb-site warned investors about this stock 11 years ago.
Our stories
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)
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)
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)
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)
Employment Support Scheme: the final outcome
After information requests by Webb-site, we reveal that HK's largest ever corporate handout went over-budget by about HK$10bn to a final tally of HK$90.5bn (US$11.6bn) plus costs. We produce a final list of approved claims. (13-Feb-2022)
After information requests by Webb-site, we reveal that HK's largest ever corporate handout went over-budget by about HK$10bn to a final tally of HK$90.5bn (US$11.6bn) plus costs. We produce a final list of approved claims. (13-Feb-2022)
Yorkey (2788): a successful outcome
Webb-site recommends shareholders to vote in favour of the increased offer, as founder David Webb has undertaken to do. Here's the background to our decision. (20-Jan-2022)
Webb-site recommends shareholders to vote in favour of the increased offer, as founder David Webb has undertaken to do. Here's the background to our decision. (20-Jan-2022)
Joining the dots on the ICAC case against Chim Pui Chung and others
The ex-legislator is once again facing criminal charges, this time with his son and others. We examine the past connections between the defendants and the connection between an alleged co-conspirator and one of the subscribers of convertible notes, who has not been charged. (21-Nov-2021)
The ex-legislator is once again facing criminal charges, this time with his son and others. We examine the past connections between the defendants and the connection between an alleged co-conspirator and one of the subscribers of convertible notes, who has not been charged. (21-Nov-2021)
Raising the Yorkey bar
What are we going to do about the proposed privatisation of Yorkey (2788)? (21-Oct-2021)
What are we going to do about the proposed privatisation of Yorkey (2788)? (21-Oct-2021)
Observations on Next Digital (0282)
A Financial Inspector has not been appointed in HK since last century, before the SFC gained new powers under the SFO in 2003. Now, Financial Secretary Paul Chan, who will neither confirm nor deny plans to run for CE, is throwing this redundant tool at Next Digital. (28-Jul-2021)
A Financial Inspector has not been appointed in HK since last century, before the SFC gained new powers under the SFO in 2003. Now, Financial Secretary Paul Chan, who will neither confirm nor deny plans to run for CE, is throwing this redundant tool at Next Digital. (28-Jul-2021)
Carrie Lam, Broadcaster-in-Chief
Contradicting a 2018 statement to LegCo, the HK Govt is now in the TV distribution business, removing competition and exclusivity by buying the Tokyo Olympics with your tax dollars and sublicensing them for free, risking a thinning-out of coverage. What next? (11-May-2021)
Contradicting a 2018 statement to LegCo, the HK Govt is now in the TV distribution business, removing competition and exclusivity by buying the Tokyo Olympics with your tax dollars and sublicensing them for free, risking a thinning-out of coverage. What next? (11-May-2021)
SFC launches Govt welfare scheme for property tycoons
Well, not all tycoons, only larger ones. (10-May-2021)
Well, not all tycoons, only larger ones. (10-May-2021)
The long-awaited Law Reform Commission report on an archives law
With RTHK, a Government Department, currently destroying its online archives, we asked the LRC why there has been no report 26 months after a consultation on an archives law closed. Here is their response. (6-May-2021)
With RTHK, a Government Department, currently destroying its online archives, we asked the LRC why there has been no report 26 months after a consultation on an archives law closed. Here is their response. (6-May-2021)
How to end HK's border lockdown
HK's economic recovery depends on fully re-opening its borders, but it can't when so few have been vaccinated. With near-zero COVID, we must use other vaccination incentives. We propose a 4-pronged solution, including a VacciLottery and an inbound travel exemption. (27-Apr-2021)
HK's economic recovery depends on fully re-opening its borders, but it can't when so few have been vaccinated. With near-zero COVID, we must use other vaccination incentives. We propose a 4-pronged solution, including a VacciLottery and an inbound travel exemption. (27-Apr-2021)
Government misled LegCo over HKIDs
A quick Sunday search using a single popular name finds 8 pairs of matching masked HKIDs in the Companies Registry. There must be hundreds or thousands of other such pairs on other names - yet the Government claimed on Friday that it could only find 8 in the entire database. (Updated 13-Apr). (12-Apr-2021)
A quick Sunday search using a single popular name finds 8 pairs of matching masked HKIDs in the Companies Registry. There must be hundreds or thousands of other such pairs on other names - yet the Government claimed on Friday that it could only find 8 in the entire database. (Updated 13-Apr). (12-Apr-2021)
HK's inbound quarantine laws: dangerous, irrational and unconstitutional
We put our microscope on HK's inbound quarantine laws and find that the 21-day length of quarantine actually increases the risk to the community, Further, the ban on arrivals from 4 countries is irrational. Both fail to satisfy constitutional tests of proportionality. (16-Mar-2021)
We put our microscope on HK's inbound quarantine laws and find that the 21-day length of quarantine actually increases the risk to the community, Further, the ban on arrivals from 4 countries is irrational. Both fail to satisfy constitutional tests of proportionality. (16-Mar-2021)
Other news
Sanction of Mr King Pak Fu, ex-Chairman of Carnival (0996)
SEHK, 21-Mar-2023
For failing to co-operate with an investigation by the Listing Division, this being the rational choice for someone who expects never to be on a listed company board again.
SEHK, 21-Mar-2023
For failing to co-operate with an investigation by the Listing Division, this being the rational choice for someone who expects never to be on a listed company board again.
Ex-legislator Albert Ho Chun Yan arrested by National Security Police while on bail
| Police statement
HK Free Press, 21-Mar-2023
Police: "for perverting the course of public justice". This follows the earlier arrest of his brother, lawyer Frederick Ho Chun Ki, and Marilyn Tang Yin Lee, sister of Tang Elizabeth Yin Ngor, who was earlier arrested after visiting her husband, ex-legislator Lee Cheuk Yan, in jail. Elizabeth Tang was suspected of collusion with foreign forces. Marilyn Tang and Frederick Ho were suspected of removing evidence.
HK Free Press, 21-Mar-2023
Police: "for perverting the course of public justice". This follows the earlier arrest of his brother, lawyer Frederick Ho Chun Ki, and Marilyn Tang Yin Lee, sister of Tang Elizabeth Yin Ngor, who was earlier arrested after visiting her husband, ex-legislator Lee Cheuk Yan, in jail. Elizabeth Tang was suspected of collusion with foreign forces. Marilyn Tang and Frederick Ho were suspected of removing evidence.
AMCO (0630): INED Mr Chan Tsz Keung under investigation
Company announcement, 16-Mar-2023
AMCO was a member of our 2017 "Enigma Network". Mr Chan was then SFC-licensed at Suncorp Securities, owned by Suncorp (1063), another Enigma company, and in 2018 moved to Astrum Capital Management (a broker in the network) until 2021. Today's announcement coincides with an SFC-ICAC investigation of an alleged pump-and-dump syndicate announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". We've already seen another Enigma company, CAID (0048) announced that an ED is under investigation.
Company announcement, 16-Mar-2023
AMCO was a member of our 2017 "Enigma Network". Mr Chan was then SFC-licensed at Suncorp Securities, owned by Suncorp (1063), another Enigma company, and in 2018 moved to Astrum Capital Management (a broker in the network) until 2021. Today's announcement coincides with an SFC-ICAC investigation of an alleged pump-and-dump syndicate announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". We've already seen another Enigma company, CAID (0048) announced that an ED is under investigation.
Sanction of Ms Li Luyi and Mr Wang Dongfeng, ex-Chairs of Forgame (0484)
SEHK, 16-Mar-2023
For massive losses on corporate loans.
SEHK, 16-Mar-2023
For massive losses on corporate loans.
China Automotive Interior Decoration (0048): an ED is under investigation
| Supplement
Company announcement, 15-Mar-2023
This coincides with an SFC-ICAC joint arrest operation announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". CAID was one of 50 listed companies in our "Enigma Network" of 2017. The supplemental announcement names the ED as Warren Wong Ho Yin.
Company announcement, 15-Mar-2023
This coincides with an SFC-ICAC joint arrest operation announced on 15-Mar, which involved "qualified accountants and senior executives of a number of Hong Kong-listed companies". CAID was one of 50 listed companies in our "Enigma Network" of 2017. The supplemental announcement names the ED as Warren Wong Ho Yin.
5 more arrested in SFC-ICAC joint operation against sophisticated ramp-and-dump syndicate
SFC, 15-Mar-2023
SFC, 15-Mar-2023
Founder (0418): INED Mr Lau Ka Wing is under investigation by a HK authority
| Update
Company announcement, 15-Mar-2023
The Board was "made aware from announcements published by other listed companies" and "has not been able to reach Mr Lau". Update: he has resigned from Founder "due to his other business commitments".
Company announcement, 15-Mar-2023
The Board was "made aware from announcements published by other listed companies" and "has not been able to reach Mr Lau". Update: he has resigned from Founder "due to his other business commitments".
ABC Multiactive (8131): ED Mr Lau Ka Wing is under investigation by a HK authority
Company announcement, 15-Mar-2023
The board was "made aware from the published news with the Stock Exchange" and "has not been able to contact Mr. Lau".
Company announcement, 15-Mar-2023
The board was "made aware from the published news with the Stock Exchange" and "has not been able to contact Mr. Lau".
Green Energy (0979): INED Mr Lau Ka Wing is under investigation by a HK authority
Company announcement, 14-Mar-2023
The company "has not been able to reach Mr Lau".
Company announcement, 14-Mar-2023
The company "has not been able to reach Mr Lau".
Marilyn Tang Yin Lee, sister of Elizabeth Tang Yin Ngor, and lawyer Frederick Ho Chun Ki released on bail in NSL case
| Police statement
HK Standard, 12-Mar-2023
Police: "before Police officers' search operation conducted earlier at a premise with a court warrant, the two arrested persons were suspected of taking away exhibits related to a "collusion with a foreign country or with external elements to endanger national security" case in an attempt to obstruct Police's investigation".
HK Standard, 12-Mar-2023
Police: "before Police officers' search operation conducted earlier at a premise with a court warrant, the two arrested persons were suspected of taking away exhibits related to a "collusion with a foreign country or with external elements to endanger national security" case in an attempt to obstruct Police's investigation".
Elizabeth Tang arrested by National Security Police after visiting ex-legislator husband Lee Cheuk Yan in prison
| Police statement
HK Free Press, 9-Mar-2023
Police: "for suspected collusion with a foreign country or with external elements to endanger national security, contravening Article 29 of the National Security Law."
HK Free Press, 9-Mar-2023
Police: "for suspected collusion with a foreign country or with external elements to endanger national security, contravening Article 29 of the National Security Law."
Sanction of Ms Lu Wei and Prof Liu Zhikun, ex-directors of China Bozza (1069)
SEHK, 6-Mar-2023
For failing to co-operate with an investigation by the Listing Division.
SEHK, 6-Mar-2023
For failing to co-operate with an investigation by the Listing Division.
SFC bans Wong Kwun Shing, ex-Convoy (now OnePlatform) Asset Management, for life
| Statement of Disciplinary Action
SFC, 1-Mar-2023
For involvement in a stock ramp in unnamed "Company A". We can tell you: it was TEM Holdings Ltd (8346), a GEM bubble which collapsed from $7.80 to $0.93 in 4 days in July 2016. Mr Wong procured an unnamed colleague, X, to recruit buyers for the stock. X admitted his involvement. The SFC doesn't say whether action is being taken against Mr X.
SFC, 1-Mar-2023
For involvement in a stock ramp in unnamed "Company A". We can tell you: it was TEM Holdings Ltd (8346), a GEM bubble which collapsed from $7.80 to $0.93 in 4 days in July 2016. Mr Wong procured an unnamed colleague, X, to recruit buyers for the stock. X admitted his involvement. The SFC doesn't say whether action is being taken against Mr X.
China Taiping Life Insurance agent and wife charged with over HK$490k commissions fraud
ICAC, 28-Feb-2023
Mr Yau Siu Kei allegedly sold a life insurance policy to his wife and they exaggerated her monthly income from $47k to $100k, earning him a commission of $490k, another indication of just how inefficiently-priced these products are,
ICAC, 28-Feb-2023
Mr Yau Siu Kei allegedly sold a life insurance policy to his wife and they exaggerated her monthly income from $47k to $100k, earning him a commission of $490k, another indication of just how inefficiently-priced these products are,
Sanction of Hygieia (1650) and 3 directors
SEHK, 28-Feb-2023
Concerning undisclosed diversion of IPO proceeds into an investment and various questionable service agreements. This involves fees paid to some of the same firms as a similar sanction of Raffles Interior (1376) in Dec-2022, including Leo Asset Management Ltd, Share News Media Ltd and Easy Global Profits Ltd. Both listings involved Singapore-based companies. In both cases, IPO funds were invested in a company "engaged in the trading of antique jewellery". In Hygieia's case this is named as Luck Rise Dragon Ltd. Leo is owned by Roma (8072).
SEHK, 28-Feb-2023
Concerning undisclosed diversion of IPO proceeds into an investment and various questionable service agreements. This involves fees paid to some of the same firms as a similar sanction of Raffles Interior (1376) in Dec-2022, including Leo Asset Management Ltd, Share News Media Ltd and Easy Global Profits Ltd. Both listings involved Singapore-based companies. In both cases, IPO funds were invested in a company "engaged in the trading of antique jewellery". In Hygieia's case this is named as Luck Rise Dragon Ltd. Leo is owned by Roma (8072).
Executive acquitted of murdering mistress
HK Standard, 28-Feb-2023
He is instead convicted of manslaughter. In his original trial he denied killing her. That conviction was quashed on jury misdirection, and on retrial he admitted the killing and was convicted of murder a second time, but the judge failed to direct the jury on the partial defence of provocation and the alternative verdict of manslaughter. Third time lucky: the jury accepted his plea of provocation.
HK Standard, 28-Feb-2023
He is instead convicted of manslaughter. In his original trial he denied killing her. That conviction was quashed on jury misdirection, and on retrial he admitted the killing and was convicted of murder a second time, but the judge failed to direct the jury on the partial defence of provocation and the alternative verdict of manslaughter. Third time lucky: the jury accepted his plea of provocation.
SFC bans thief Chan Wai Chun, ex-Dah Sing Bank, for life
| Reasons for sentence
SFC, 27-Feb-2023
Last year he was jailed for 32 months for ripping off an 86 year-old client, Madam Chan Kin, for HK$1.195m.
SFC, 27-Feb-2023
Last year he was jailed for 32 months for ripping off an 86 year-old client, Madam Chan Kin, for HK$1.195m.
Ex-director of subsidiary of China Railway Construction (1186) charged over HK$75.3m L/C fraud
ICAC, 23-Feb-2023
Zheng Zhong was arrested on his arrival in HK. 2 of his alleged co-conspirators were earlier tried, convicted and jailed.
ICAC, 23-Feb-2023
Zheng Zhong was arrested on his arrival in HK. 2 of his alleged co-conspirators were earlier tried, convicted and jailed.
Previously on Webb-site.com
Check out our full list of articles in the archive, since our launch in 1998.
Check out our full list of articles in the archive, since our launch in 1998.
Webb-chips: current disclosed holdings
Today's big birthdays, 29 March
more from Webb-site Who's Who
more from Webb-site Who's Who
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy