KuangChi Science Limited 光啟科學有限公司

Kuangchi the stratospheric stock
Our latest New Year bubble worth popping is Kuangchi (0439), HK's top-performing stock of 2014, valued at HK$32.03bn (US$4.13bn) or 16.1x NTAV. (2-Jan-2015)
Chan Hoi Lam, Ex-CEO of Climax (0439) jailed for 74 monthsHall of Shame
ICAC, 10-Sep-2013
and he thereby joins our Hall of Shame for jailed directors. By coincidence he is actually the second CEO of this company to be jailed. The first was Kenneth Fung Kin Yuen (aka Fung Chi Keung) who was jailed in 2003.
Chan Hoi Lam, Ex-CEO of Climax (0439) guilty of fraud and theft
ICAC, 6-Sep-2013
Former CEO of Climax (0439) charged with fraud and theft
ICAC, 26-Jan-2011
The auditor for the reports for the years ended 31-Mar-2007 and 31-Mar-2008 was Shinewing (HK) CPA Ltd. They took over after Deloitte resigned, after raising a query "on the validity of certain PRC expenditures" in the sum of HK$10.54m. Deloitte referred to its responsibility to consider fraud in an audit of financial statements. Shinewing subsequently gave a clean audit report for both years.
HKICPA settles regulatory proceedings against Arthur Andersen & Co. for HK$4m
HKICPA, 27-Feb-2009
The paid advert opposing the blackout rule
With links to the signatories in Webb-site Who's Who. (29-Dec-2008)
ICAC raided Climax office, arrested certain former and current officers
Company announcement, 20-Nov-2008
3 INEDs of Climax resign simultaneously
Company announcement, 27-Mar-2008
Chan Hoi Lam and Frederick Kan Shiu Cheong resign as CEO and ED of Climax
Company announcement, 26-Mar-2008
Result of investigation by independent accountants
Company announcement, 12-Mar-2008
They were "unable to conclude whether the Refurbishment and Advertising Expenses and entertainment Expenses were genuinely incurred for the purposes of and necessary for the business operations of the Group."
Change of auditors
Company announcement, 31-Mar-2007
Deloitte resigns, after raising a query "on the validity of certain PRC expenditures" in the sum of HK$10.54m. Deloitte refers to its responsibility to consider fraud in an audit of financial statements. It is unable to complete its audit.
Raymund Chao Pak Ki and Arthur Anderson & Co v HKSA
HK Court of Appeal, 26-Oct-2005
Raymund Chao Pak Ki and Arthur Anderson & Co v HKSA
HK Court of First Instance, 6-Feb-2004
SFC prosecutes Mr Choi Kam Tui for manipulating closing price of Climax (0439)
SFC, 10-Jun-2003
You can climax at the end of each day, but it is always such a let-down the morning after.
Mr Daniel Hung sentenced to community service for manipulating Climax (0439)
SFC, 11-Nov-2002
SFC Prosecutes Mr Daniel Hung for market manipulation
SFC, 28-Oct-2002

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