News
Sanction of Yan Xiang, ex-ED of Cathay Group (1981)
SEHK, 12-Dec-2024
For failing to co-operate with an investigation.
SEHK, 12-Dec-2024
For failing to co-operate with an investigation.
Sanction of Kaisun (8203) and 7 directors
SEHK, 10-Dec-2024
For failure to disclose loans to Up Energy (ex-0307) and investments in EJE (ex-8101) and Tesson (1201).
SEHK, 10-Dec-2024
For failure to disclose loans to Up Energy (ex-0307) and investments in EJE (ex-8101) and Tesson (1201).
Mr Chim Pui Chung, son Ricky Chim Kim Lun and Ms Wong Poe Lai guilty
| Rasons for verdict (Chinese)
SFC, 9-Dec-2024
SFC, 9-Dec-2024
Concentration warning in Jinhai Med Tech (2225)
SFC, 9-Dec-2024
Webb-site warned the market about this stock in August, noting that GoFinTech Innovation (0290) appeared to be buying into a bubble. At 20-Nov-2024, 28 holders had 90.2%.
SFC, 9-Dec-2024
Webb-site warned the market about this stock in August, noting that GoFinTech Innovation (0290) appeared to be buying into a bubble. At 20-Nov-2024, 28 holders had 90.2%.
Ex-SFC manager, DoJ Senior Counsel and nurse charged with conspiracy to commit MIPO
ICAC, 29-Nov-2024
Then SFC manager Kenneth Leung Po Hin allegedly abused inside information on a pending Link REIT (0823) rights issue, and the other 2 bought and sold put options to benefit from the information. It's unclear why there isn't also a charge of insider dealing rather than just Misconduct in Public Office, but the SFC in a separate announcement says it is looking into potential violations under the Securities and Futures Ordinance.
ICAC, 29-Nov-2024
Then SFC manager Kenneth Leung Po Hin allegedly abused inside information on a pending Link REIT (0823) rights issue, and the other 2 bought and sold put options to benefit from the information. It's unclear why there isn't also a charge of insider dealing rather than just Misconduct in Public Office, but the SFC in a separate announcement says it is looking into potential violations under the Securities and Futures Ordinance.
PECS Register monthly update
HK Government, 29-Nov-2024
The latest jobs for retired senior HK civil servants.
HK Government, 29-Nov-2024
The latest jobs for retired senior HK civil servants.
Li Han Chun, ex-China Forestry (ex-0930) CEO, and Li Kwok Cheong, ex-Chairman, sanctioned for market misconduct
| MMT report part 2
SFC, 28-Nov-2024
SFC, 28-Nov-2024
Ex-Bank of China chairman Liu Liange gets suspended death sentence for bribery
| Hall of Shame
Reuters, 26-Nov-2024
He thereby enters the Webb-site Hall of Shame, joining the bank's ex-President Wang Xuebing (jailed for 12 years in 2003) and ex-Vice Chairman Liu Jinbao (suspended death sentence, 2005). In our view, Xi Jinping's "Tigers and Flies" anti-corruption campaign, running since 2012, is doomed to fail so long as civil servants (including those in State-Owned Enterprsies) are underpaid.
Reuters, 26-Nov-2024
He thereby enters the Webb-site Hall of Shame, joining the bank's ex-President Wang Xuebing (jailed for 12 years in 2003) and ex-Vice Chairman Liu Jinbao (suspended death sentence, 2005). In our view, Xi Jinping's "Tigers and Flies" anti-corruption campaign, running since 2012, is doomed to fail so long as civil servants (including those in State-Owned Enterprsies) are underpaid.
Ex-Johnson Electric (0179) manager pleads guilty to HK$70m purchase orders fraud
ICAC, 25-Nov-2024
Mr Seh Yat Wing failed to disclose that the vendor of electric parts was owned and directed by the mother of his child.
ICAC, 25-Nov-2024
Mr Seh Yat Wing failed to disclose that the vendor of electric parts was owned and directed by the mother of his child.
Mastermind and 12 others charged in FWD/Sun Life HK$52m dummy agents commissions fraud plead guilty
ICAC, 23-Nov-2024
ICAC, 23-Nov-2024
Criticism of Tseng Ming Sung, NED of Tenfu (6868)
SEHK, 21-Nov-2024
At the same time as executing share buybacks for Tenfu, he was also buying shares for 2 substantial shareholders.
SEHK, 21-Nov-2024
At the same time as executing share buybacks for Tenfu, he was also buying shares for 2 substantial shareholders.
SFC issues restriction notices to 4 brokers to freeze client accounts linked to suspected account hacking and market manipulation
SFC, 21-Nov-2024
The maximum amount frozen is HK$91m.
SFC, 21-Nov-2024
The maximum amount frozen is HK$91m.
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, 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.
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
Webb-site.com, 20-Nov-2024
Webb-site.com, 20-Nov-2024
SFC withdraws Restriction Notice to broker over client's suspected insider dealing after obtaining court order to freeze assets
SFC, 19-Nov-2024
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.
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
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.
SEHK, 14-Nov-2024
For failing to do the required training after a previous sanction.
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.
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.
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
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.
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.
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 $18,000.
PECS Register monthly update
HK Government, 31-Oct-2024
The post-retirement jobs of senior HK civil servants.
HK Government, 31-Oct-2024
The post-retirement jobs of senior HK civil servants.
First immediate jail sentence for convicted unlicensed activity with a compensation order
SFC, 30-Oct-2024
Ms Lai Ka Yi has been granted bail pending appeal against her conviction and 2-week sentence.
SFC, 30-Oct-2024
Ms Lai Ka Yi has been granted bail pending appeal against her conviction and 2-week sentence.
Our stories
On 18-Nov-2024, JPMorgan completed oustourcing its HK custodian business to HSBC, as shown in Webb-site CCASS Analysis
| HSBC custody at 2024-11-18
(20-Nov-2024)
(20-Nov-2024)
Knock it off, Judiciary: HK courts don't use gavels
The HK Judiciary persists in promoting an object never used in courtrooms as a symbol of law and juridical work. Why not promote something else not found in courts, like a rocket? (19-Oct-2024)
The HK Judiciary persists in promoting an object never used in courtrooms as a symbol of law and juridical work. Why not promote something else not found in courts, like a rocket? (19-Oct-2024)
IKEA removes smart-home products from HK, citing National Security Law
Not entirely consistent with the Government's goal to make Hong Kong a Smart City by investing hundreds of HK$ billions into "Innovation and Technology". (12-Sep-2024)
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)
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)
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)
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)
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)
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)
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)
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)
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)
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)
Other news
Sanction of Yan Xiang, ex-ED of Cathay Group (1981)
SEHK, 12-Dec-2024
For failing to co-operate with an investigation.
SEHK, 12-Dec-2024
For failing to co-operate with an investigation.
Sanction of Kaisun (8203) and 7 directors
SEHK, 10-Dec-2024
For failure to disclose loans to Up Energy (ex-0307) and investments in EJE (ex-8101) and Tesson (1201).
SEHK, 10-Dec-2024
For failure to disclose loans to Up Energy (ex-0307) and investments in EJE (ex-8101) and Tesson (1201).
Mr Chim Pui Chung, son Ricky Chim Kim Lun and Ms Wong Poe Lai guilty
| Rasons for verdict (Chinese)
SFC, 9-Dec-2024
SFC, 9-Dec-2024
Concentration warning in Jinhai Med Tech (2225)
SFC, 9-Dec-2024
Webb-site warned the market about this stock in August, noting that GoFinTech Innovation (0290) appeared to be buying into a bubble. At 20-Nov-2024, 28 holders had 90.2%.
SFC, 9-Dec-2024
Webb-site warned the market about this stock in August, noting that GoFinTech Innovation (0290) appeared to be buying into a bubble. At 20-Nov-2024, 28 holders had 90.2%.
Ex-SFC manager, DoJ Senior Counsel and nurse charged with conspiracy to commit MIPO
ICAC, 29-Nov-2024
Then SFC manager Kenneth Leung Po Hin allegedly abused inside information on a pending Link REIT (0823) rights issue, and the other 2 bought and sold put options to benefit from the information. It's unclear why there isn't also a charge of insider dealing rather than just Misconduct in Public Office, but the SFC in a separate announcement says it is looking into potential violations under the Securities and Futures Ordinance.
ICAC, 29-Nov-2024
Then SFC manager Kenneth Leung Po Hin allegedly abused inside information on a pending Link REIT (0823) rights issue, and the other 2 bought and sold put options to benefit from the information. It's unclear why there isn't also a charge of insider dealing rather than just Misconduct in Public Office, but the SFC in a separate announcement says it is looking into potential violations under the Securities and Futures Ordinance.
PECS Register monthly update
HK Government, 29-Nov-2024
The latest jobs for retired senior HK civil servants.
HK Government, 29-Nov-2024
The latest jobs for retired senior HK civil servants.
Li Han Chun, ex-China Forestry (ex-0930) CEO, and Li Kwok Cheong, ex-Chairman, sanctioned for market misconduct
| MMT report part 2
SFC, 28-Nov-2024
SFC, 28-Nov-2024
Ex-Bank of China chairman Liu Liange gets suspended death sentence for bribery
| Hall of Shame
Reuters, 26-Nov-2024
He thereby enters the Webb-site Hall of Shame, joining the bank's ex-President Wang Xuebing (jailed for 12 years in 2003) and ex-Vice Chairman Liu Jinbao (suspended death sentence, 2005). In our view, Xi Jinping's "Tigers and Flies" anti-corruption campaign, running since 2012, is doomed to fail so long as civil servants (including those in State-Owned Enterprsies) are underpaid.
Reuters, 26-Nov-2024
He thereby enters the Webb-site Hall of Shame, joining the bank's ex-President Wang Xuebing (jailed for 12 years in 2003) and ex-Vice Chairman Liu Jinbao (suspended death sentence, 2005). In our view, Xi Jinping's "Tigers and Flies" anti-corruption campaign, running since 2012, is doomed to fail so long as civil servants (including those in State-Owned Enterprsies) are underpaid.
Ex-Johnson Electric (0179) manager pleads guilty to HK$70m purchase orders fraud
ICAC, 25-Nov-2024
Mr Seh Yat Wing failed to disclose that the vendor of electric parts was owned and directed by the mother of his child.
ICAC, 25-Nov-2024
Mr Seh Yat Wing failed to disclose that the vendor of electric parts was owned and directed by the mother of his child.
Mastermind and 12 others charged in FWD/Sun Life HK$52m dummy agents commissions fraud plead guilty
ICAC, 23-Nov-2024
ICAC, 23-Nov-2024
Criticism of Tseng Ming Sung, NED of Tenfu (6868)
SEHK, 21-Nov-2024
At the same time as executing share buybacks for Tenfu, he was also buying shares for 2 substantial shareholders.
SEHK, 21-Nov-2024
At the same time as executing share buybacks for Tenfu, he was also buying shares for 2 substantial shareholders.
SFC issues restriction notices to 4 brokers to freeze client accounts linked to suspected account hacking and market manipulation
SFC, 21-Nov-2024
The maximum amount frozen is HK$91m.
SFC, 21-Nov-2024
The maximum amount frozen is HK$91m.
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, 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
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.
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
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.
SEHK, 14-Nov-2024
For failing to do the required training after a previous sanction.
Previously on Webb-site.com
Check out our full list of articles in the archive, since our launch in 1998.
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