Combest Holdings Limited 康佰控股有限公司
Court orders ex-Combest (ex-8190) senior execs to make HK$192m compensation to shareholders
| Judgment
SFC, 2-Jun-2025
Webb-site filed a detailed complaint on this to the SFC on 21-Dec-2017. Justice Harris asks why criminal charges were not brought, as the case "clearly bears the hallmarks of a fraud". The SFC replies that it referred the case to the Police Commercial Crime Bureau on 20-Jun-2019. Over $293m of losses were caused to Combest, so the respondents appear to have made a net profit and avoided criminal charges.
SFC, 2-Jun-2025
Webb-site filed a detailed complaint on this to the SFC on 21-Dec-2017. Justice Harris asks why criminal charges were not brought, as the case "clearly bears the hallmarks of a fraud". The SFC replies that it referred the case to the Police Commercial Crime Bureau on 20-Jun-2019. Over $293m of losses were caused to Combest, so the respondents appear to have made a net profit and avoided criminal charges.
SFC secures first-of-its-kind settlement to compensate public shareholders of Combest (ex-8190)
SFC, 16-Sep-2024
Webb-site filed a detailed complaint on this matter with the SFC on 21-Dec-2017.
SFC, 16-Sep-2024
Webb-site filed a detailed complaint on this matter with the SFC on 21-Dec-2017.
SFC petitions to wind up Combest (8190)
SFC, 21-May-2020
At last, some real action. Webb-site filed a detailed complaint on this matter with the SFC on 21-Dec-2017. The SFC now alleges over-priced acquisitions identified in our complaint. The sellers were BVI companies the owners of which were not disclosed. The SFC alleges 2 directors and a suspected shadow director, one Mr Ng Kwok Fai, caused losses of HK$293m to Combest. Notably the SFC seeks a winding-up rather than just compensatory orders. They should do this more often - many other companies suspended by the SFC, including Lerado (1225) are in such limbo.
SFC, 21-May-2020
At last, some real action. Webb-site filed a detailed complaint on this matter with the SFC on 21-Dec-2017. The SFC now alleges over-priced acquisitions identified in our complaint. The sellers were BVI companies the owners of which were not disclosed. The SFC alleges 2 directors and a suspected shadow director, one Mr Ng Kwok Fai, caused losses of HK$293m to Combest. Notably the SFC seeks a winding-up rather than just compensatory orders. They should do this more often - many other companies suspended by the SFC, including Lerado (1225) are in such limbo.
Combest (8190) auditor BDO resigns, claiming disagreement on fees
Company announcement, 6-Aug-2019
This comes 2 months after the SFC suspended the stock.
Company announcement, 6-Aug-2019
This comes 2 months after the SFC suspended the stock.
SFC directs suspension of Combest (8190)
Company announcement, 29-May-2019
Webb-site filed a detailed complaint against this company with the SFC on 21-Dec-2017.
Company announcement, 29-May-2019
Webb-site filed a detailed complaint against this company with the SFC on 21-Dec-2017.
Combest (8190) buys 51% of Ultra Rich Global Ltd for HK$170m
Company announcement, 2-Apr-2017
The owner of the BVI vendor is not disclosed.
Company announcement, 2-Apr-2017
The owner of the BVI vendor is not disclosed.
Combest (8190) buys money-lender for HK$70m
Company announcement, 4-Jan-2016
The owner of the BVI vendor is not disclosed. The target had net assets of just HK$15.53m at 31-Dec-2015.
Company announcement, 4-Jan-2016
The owner of the BVI vendor is not disclosed. The target had net assets of just HK$15.53m at 31-Dec-2015.
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy