Renaissance Asia Silk Road Group Limited 復興亞洲絲路集團有限公司

HKICPA bans Seto Man Fai for 5 years
HKICPA, 14-Mar-2018
This relates to defective audit work on 3 listed companies for 2010 and 2011.
HKICPA disciplines Albert Lam Man Sum & Hopkins CPA LtdReasons
HKICPA, 17-Apr-2012
The HKICPA doesn't name the listed company, but we can tell you that it was China Billion Resources Ltd, then known as Global Green Tech Group Ltd (0274).
Global Green Tech (0274) AGM mess
Company announcement, 30-Jun-2011
4 EDs and 1 INED withdraw from re-election: no reason is stated. The remaining 2 INEDs are voted out. The election of Deloitte as auditor is vetoed, and finally the company claims to have passed a resolution for which no notice was given.
Investigation report by Audit Investigation Board
Accounting & Financial Reporting Council, 13-May-2011
We deduce that this relates to Global Green Tech (0274) and its 2008 accounts, which received a clean audit report. The auditor was Hopkins CPA Ltd. The only "direct non-wholly owned subsidiary" listed in the accounts was Bio Beauty Group Ltd, which aborted its IPO in late 2007. At that time the subsidiary auditor was Deloitte, but it may have changed. Note the concerns expressed by the subsidiary auditor in paragraphs 4.1.3.3 to 4.1.3.5. It resigned on 6-Aug-2009 without issuing an audit report.
Global Green Tech: um, last year we lost $357m more than we said before.
Company announcement, 25-Aug-2010
Global Green Tech goes mining
In part 2 of today's look at Global Green Tech (0274), we'll show you how it bought a gold mine for 5.83 times what an AIM-traded company sold it for 3 months earlier, and that one of the middlemen also controls miner Lumena Resources (0067), so we take a look at that too. (25-May-2010)
Cosmetic appearances
When the ICAC charged a person with engineering fraudulent acquisitions by Uni-Bio Science (0690) last month, we suspect they only saw half the story. Webb-site looks at the overlaps between UBS and Global Green Tech (0274), and at a series of its acquisitions. (25-May-2010)
Global Green Tech auditor disclaims opinion...
Company announcement, 29-Apr-2010
...for 15 reasons! Is this some kind of record? Can anyone beat 15?
CSFB's Toxic Convertibles
Webb-site.com lifts the lid on the toxic convertibles scam in HK, in which small, mostly naive companies surrender control over future equity issuance to an investment bank, whose principal interest is to lock in a profit by converting bonds on a rolling basis at a deep discount to market and selling the resulting shares. CSFB has led the way down this value-destroying path, with Merrill Lynch recently joining the fray. We estimate that the banks make a gross profit on money raised of about 31%, and the average stock price has fallen 30% since a toxic convertible was launched. If you are a listed company, just say no. If you are an institutional investor, take your business elsewhere. (8-Jun-2005)
SFAT upholds SFC decision to suspend analyst Mr Eric Wong Wing Fai for 18 months for front-running research reports
SFC, 2-Aug-2004
Mr Eric Wong Wing Fai v SFC
SFAT, 2-Aug-2004
HKSAR v Lee King Shun
HK Court of First Instance, 11-Aug-2003
SFC reprimands Benny Chong Tin Lung for misconduct
SFC, 1-Apr-2003

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