News

Government freezes Jimmy Lai's assets, including stake in Next Digital (0282)NSL Rules
HK Government, 14-May-2021
Even if Mr Lai is convicted, given the advertising boycott against the company, the long decline in its share price, and that he's been supporting it with loans, it might be difficult for the prosecution to show that he has benefited from the offence and therefore that a confiscation should be made under the NSL Rules, Schedule 3.
Carrie Lam, Broadcaster-in-Chief
Webb-site.com, 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?
SFC launches Govt welfare scheme for property tycoons
Webb-site.com, 10-May-2021
Well, not all tycoons, only larger ones.
HK residents revolt against Covid-19 quarantine campReg 599A s2
Bloomberg, 7-May-2021
The residents are revolting! Good to see, as we have said, they probably don't fit the legal definition of "contacts" under Reg. 599A, namely that they are "likely" to have been exposed to risk of infection. Even less so in larger buildings like Tower 11 of Caribbean Coast, where 1027 residents were evacuated.
The long-awaited Law Reform Commission report on an archives law
Webb-site.com, 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.
Open access to Companies Registry information serves the public interest, outweighing privacy concerns
South China Morning Post, 29-Apr-2021
An op-ed from Gordon Jones, former Companies Registrar.
How to end HK's border lockdown
Webb-site.com, 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.
HKSAR v Bao Choy Yuk Ling - reasons for conviction (Chinese with English & Chinese summary)English summary
HK Magistrates' Courts, 22-Apr-2021
The journalist is convicted on the grounds that she "knew" that the reasons for her search were not "traffic and transport related matters". Surely investigating vehicles possibly involved in transporting thugs or offensive weapons relates to transport. She should appeal. Ironically, the judgment names the registered owner of LV755 as Conred Industries Ltd, at the address of another company, "Prosperous Property Development" as well as the person who registered it, one But Yu Sang (transliteration of 畢羽生). We make no allegation as to their involvement.
Absconder faces court for bribing govt officers over Tsing Yi Park construction
ICAC, 13-Apr-2021
Quite a record - the fugitive left British HK in 1995 and, now 92, returned from the mainland to face the music. The ICAC is like a proctologist - they'll get you in the end. Nice park though.
Concentration warning in Pacific Millennium Packaging (1820)
SFC, 13-Apr-2021
The top 25 holders have 96.6%.
Concentration warning in Goldstone Investment (0901)
SFC, 13-Apr-2021
The top 22 holders have 90.49%.
Government misled LegCo over HKIDs
Webb-site.com, 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).
Arrest warrant issued for Ms Zeng Lingxi
SFC, 1-Apr-2021
The alleged social media pump & dumper has put in some social distance and failed to appear in Court. The SFC has "credible information" that she left HK on 15-Nov-2020. According to an earlier announcement, she was not restricted from travelling but had to notify the SFC in advance of her travel plans.
SFC fines Black Marble Securities Ltd HK$1.8m for internal control failings and regulatory breachesStatement of Disciplinary Action
SFC, 31-Mar-2021
The firm is owned by Lerado Financial (1225), part of the Enigma Network.
Webb reappointed to Takeovers Panel for 2 more years
SFC, 31-Mar-2021
They must be optimistic! He was first appointed in 2001 and became a Deputy Chairman in 2013. He's the 3rd-longest serving current member of the Panel.
Concentration warning in GT Steel Construction (8402)
SFC, 29-Mar-2021
The top 20 holders have 93.74%.
Concentration warning in Maxicity (8216)
SFC, 29-Mar-2021
The top 20 holders have 91.91%, up from 82.58% at listing, which included a public offer. The stock of the slope works contractor has quintupled since then - so the question is whether the slope will collapse.
Golik (1118) has been "recently informed by Mr Lo", an INED, of his sanction by HKICPAResignation
Company announcement, 22-Mar-2021
This follows a complaint by Webb-site filed with SEHK on 18-Mar-2021 that Golik had failed to announce the sanction, presumably because he had not told them, over 5 months after it was handed down. Update, 26-Mar-2021: he's resigned.
Arts body 'may scrap funding for law-breakers'
RTHK, 17-Mar-2021
Better question: why are taxpayers paying artists, selected by the ADC, to produce works of art, thereby distorting the free market? Scrap the Arts Development Council, save over HK$226m per year of subventions, and let the market decide which arts are worth funding. Any time you insert a government body into the mix, you are bound to end up with these issues.
SFC fines Yardley Securities HK$5m for AML breachesStatement of Disciplinary Action
SFC, 17-Mar-2021
This involve 2 clients between Feb-May-2016, and transfers to and from 3rd parties in the "casino and gaming industry", using Yardley as a conduit.

Our stories

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)
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)
The Budget and HK's Road to Serfdom
The so-called "Consumption Voucher" will probably become another cash handout, a total of HK$108bn over 2 years - but that's not the point. HK's budget has long since deviated from the Basic Law requirement to keep the budget in line with Gross Domestic Product over time, having expanded by over a quarter since the 1997 Handover. HK is becoming a tax-and-spend interventionist economy, departing from the free-market principles at the root of its success. (26-Feb-2021)
How the GameStop game will stop
…and who will benefit when it does. (28-Jan-2021)
Meter Madness
How HK's policies of pseudo-anonymity and deep under-pricing of metered parking have resulted in a half-baked not-very-smart upgrade to the system, launched yesterday. (19-Jan-2021)
The Main Board profit requirement - for whom?
Webb-site responds to the HKEX proposal which further raises the barriers to entry for smaller companies on its monopoly stockmarket and reduces investor choice. Help us out and add your voice! (14-Jan-2021)
ESS Revealed
As part of our push for open data, Webb-site tonight publishes the first detailed analysis of approved claims under the so-called "Employment Support Scheme", including league tables of the top 5,000 recipients and a search function for all recipients. (13-Dec-2020)
COVID-19: were the lockdowns worth the socio-economic cost?Video replay
These are the slides from a "Webbinar" with David Webb hosted by Exeter College, Oxford University, this evening. As vaccines draw near, the debate on the global policy responses to the pandemic should begin. (4-Dec-2020)
Govt adopts part of our CICS proposal - now get it right
3 days after our article last Monday, the HK Govt began talking about a compensation scheme for virus-positive tests, to incentivise self-employed symptomatic people facing loss of income to come forward. But early reports suggest it will be too little and won't apply to close contacts, deterring people who are symptomatic if the close contact is a family member who will be deprived of income while in the quarantine camp. Get it right! (22-Nov-2020)
The geo-politics of HK's clunky contact-tracing app
We look at the deceptively-named "LeaveHomeSafe" app, and why it failed to adopt the automated technology worked out by Google and Apple for exposure notifications and instead resorted to a home-brewed QR-scanning system that few will use. The answer may lie in politics. (19-Nov-2020)
Discover COVID cases with behavioural economics, not force of law
The HK Government has again displayed its authoritarian streak by introducing a mandatory testing law. Instead, citizens and their close contacts should be compensated for as long as they are compulsorily isolated after one of them tests positive. For the self-employed, this would remove a deterrent to seeing a doctor when sick, and thereby also reduce the spread of other diseases. (16-Nov-2020)

Other news

Government freezes Jimmy Lai's assets, including stake in Next Digital (0282)NSL Rules
HK Government, 14-May-2021
Even if Mr Lai is convicted, given the advertising boycott against the company, the long decline in its share price, and that he's been supporting it with loans, it might be difficult for the prosecution to show that he has benefited from the offence and therefore that a confiscation should be made under the NSL Rules, Schedule 3.
HK residents revolt against Covid-19 quarantine campReg 599A s2
Bloomberg, 7-May-2021
The residents are revolting! Good to see, as we have said, they probably don't fit the legal definition of "contacts" under Reg. 599A, namely that they are "likely" to have been exposed to risk of infection. Even less so in larger buildings like Tower 11 of Caribbean Coast, where 1027 residents were evacuated.
Open access to Companies Registry information serves the public interest, outweighing privacy concerns
South China Morning Post, 29-Apr-2021
An op-ed from Gordon Jones, former Companies Registrar.
HKSAR v Bao Choy Yuk Ling - reasons for conviction (Chinese with English & Chinese summary)English summary
HK Magistrates' Courts, 22-Apr-2021
The journalist is convicted on the grounds that she "knew" that the reasons for her search were not "traffic and transport related matters". Surely investigating vehicles possibly involved in transporting thugs or offensive weapons relates to transport. She should appeal. Ironically, the judgment names the registered owner of LV755 as Conred Industries Ltd, at the address of another company, "Prosperous Property Development" as well as the person who registered it, one But Yu Sang (transliteration of 畢羽生). We make no allegation as to their involvement.
Absconder faces court for bribing govt officers over Tsing Yi Park construction
ICAC, 13-Apr-2021
Quite a record - the fugitive left British HK in 1995 and, now 92, returned from the mainland to face the music. The ICAC is like a proctologist - they'll get you in the end. Nice park though.
Concentration warning in Pacific Millennium Packaging (1820)
SFC, 13-Apr-2021
The top 25 holders have 96.6%.
Concentration warning in Goldstone Investment (0901)
SFC, 13-Apr-2021
The top 22 holders have 90.49%.
Arrest warrant issued for Ms Zeng Lingxi
SFC, 1-Apr-2021
The alleged social media pump & dumper has put in some social distance and failed to appear in Court. The SFC has "credible information" that she left HK on 15-Nov-2020. According to an earlier announcement, she was not restricted from travelling but had to notify the SFC in advance of her travel plans.
SFC fines Black Marble Securities Ltd HK$1.8m for internal control failings and regulatory breachesStatement of Disciplinary Action
SFC, 31-Mar-2021
The firm is owned by Lerado Financial (1225), part of the Enigma Network.
Webb reappointed to Takeovers Panel for 2 more years
SFC, 31-Mar-2021
They must be optimistic! He was first appointed in 2001 and became a Deputy Chairman in 2013. He's the 3rd-longest serving current member of the Panel.
Concentration warning in GT Steel Construction (8402)
SFC, 29-Mar-2021
The top 20 holders have 93.74%.
Concentration warning in Maxicity (8216)
SFC, 29-Mar-2021
The top 20 holders have 91.91%, up from 82.58% at listing, which included a public offer. The stock of the slope works contractor has quintupled since then - so the question is whether the slope will collapse.
Previously on Webb-site.com
Check out our full list of articles in the archive, since our launch in 1998.

Sign up for our free newsletter

Recommend Webb-site to a friend

Copyright & disclaimer, Privacy policy

Back to top