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)

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)

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)

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)

Raising the Yorkey bar
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)

30 years in Hong Kong
This seems like a suitable time for an update from our founder. (15-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)

SFC launches Govt welfare scheme for property tycoons
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)

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)

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)

SFC bans Lo Wai Ming, ex-RO of Taiping Securities (HK), for 7 months | Statement of Disciplinary Action
SFC, 18-Sep-2023

SFC fines Chee Tak Securities Ltd HK$2m, suspends its Responsible Officer Kevin Chiu Koon Yu for 10 months | Statement of Disciplinary Action
SFC, 18-Sep-2023

China insurance boss jailed for life in corruption crackdown | Hall of Shame
BBC, 14-Sep-2023
Putting the Life in China Life. At least its not China Death, if he behaves himself for 2 years. He thereby enters the Webb-site Hall of Shame for jailed directors of HK-listed companies.

Funnie Lau Ngar Yee charged with using false instrument in broker firm's Responsible Officer application with Insurance Authority
ICAC, 13-Sep-2023
Maybe she was just joking?

SFC revokes Axial Capital Management Ltd's licence and suspends its Responsible Officer Eugene Chung for 5 years | Statement of Disciplinary Action
SFC, 11-Sep-2023

Court appoints administrators for Vantage New Generation Securities Ltd
SFC, 6-Sep-2023
We note that according to a Restriction Notice issued on 7-Jun-2023, the SFC suspects misappropriation of client assets.

Sanction of 2 ex-Chairpersons of Hope Life (1683)
SEHK, 5-Sep-2023

MOG Digitech (1942): investigation into dealings in its shares
Company announcement, 31-Aug-2023
The "enforcement authorities" are almost certainly the SFC and ICAC, which on 29-Aug-2023 announced an investigation into suspected market manipulation of 2 unnamed stocks.

PECS Register monthly update
HK Government, 31-Aug-2023

Sanction of Mr Tse Ke Li, ex-ED of Global Mastermind (8063)
SEHK, 30-Aug-2023
For undisclosed "acquisitions" which were never identified and cash withdrawal from a subsidiary, leading to a loss of HK$58.7m.

Centurion ZD CPA Ltd, Chan Kam Fuk & Ling Chun Kwok fined total HK$700k
Accounting & Financial Reporting Council, 29-Aug-2023
Relating to goodwill accounting for an acquisition in the 2016 audit of China Infrastructure Investment (0600). In our view, goodwill assessment should be left to the market, not directors and auditors, as it seeks to value the future. Every day, markets reach their own view on the future. Goodwill accounting, written into standards by the profession, is a gravy train for auditors and valuers. An identical business, built organically and not through acquisition, would have zero goodwill in its balance sheet.

Ex-FTLife district manager and downline trio charged over HK$750k commissions fraud
ICAC, 29-Aug-2023

Alliance International Education Leasing (1563): investigation
Company announcement, 29-Aug-2023
"Relevant regulatory authorities" are probably the ICAC and SFC, based on their joint announcement.

SFC and ICAC joint operation against suspected market manipulation syndicate
SFC, 29-Aug-2023
Involving ramps in the shares of 2 unnamed listed companies. We can tell you that one is Alliance International Education Leasing (1563), where the bubble has already burst, and the other is probably MOG Digitech (1942), which is still in a bubble. The SFC has issued Restriction Notices issued to 6 brokers to freeze certain client accounts.

Webb on "Backchat" re the HK stock market and how to fix it
RTHK, 29-Aug-2023

Solicitor Monita Lau Wai Yee, ex-Medical Council, jailed for 2.5 years for misconduct in public office
ICAC, 25-Aug-2023
We note that she is still listed as a Chairman of the statutory Buildings Appeal Tribunal Panel. Maybe she'll be unable to serve?

Sanctions against China Saite (ex-0153) and 10 directors
SEHK, 24-Aug-2023
For undisclosed loans to the Chairman, amongst other things.

Chow Tsz Sin (fka Zhou Chuqian), ex-Sun Life, jailed for 30 weeks for HK$750k commission fraud
ICAC, 22-Aug-2023

SFC fines China Industrial Securities International Brokerage Ltd HK$3.5m for internal control failures | Statement of Disciplinary Action
SFC, 22-Aug-2023
The broker is owned by China Industrial Securities (6058).

SFC fines Changjiang Corporate Finance (HK) Ltd HK$20m, suspends its licence for serious and extensive sponsor failures | Statement of Disciplinary Action
SFC, 21-Aug-2023