2 former EDs of Convoy Global (ex-1019) jailed for conspiracy to defraudICAC press release
SFC, 16-Oct-2021
Mark Mak Kwong Yiu (7 months) and Christie Chan Lai Yee (5 months, suspended for 18 months) thereby enter the Webb-site Hall of Shame. They and their 2 co-defendants are the first persons connected to the "Enigma Network" exposed by Webb-site in 2017 to be sentenced. Comment: the sentences seem remarkably light by comparison with recent sentences for peaceful but unauthorised assemblies.
SFC-ICAC operation leads to conviction of ex-senior executives of Convoy (ex-1019)ICAC announcement
SFC, 20-Sep-2021
At last, some convictions in the "Enigma Network" that we exposed in 2017. It's a start.
4 charged with conspiracy to defraud over bonds placement of Convoy (1019)SFC announcement
ICAC, 22-Jul-2019
Allegedly, over a 3.5 year period, Convoy Investment Services (CIS), in which Mark Mak Kwong Yiu and 2 other EDs of Convoy held substantial shareholdings, acted as a hidden connected placing agent for bond issues, using Gransing Securities as a front. We note that in 2015, CIS applied for a listing on GEM which lapsed. It was then a partial subsidiary of a BVI company which was 35.06% owned by Quincy Wong Lee Man, 29.62% by Mr Mak and 20.71% by Shin Kin Man, Wong and Shin, both EDs of Convoy, are not charged today.
Gransing Securities chair Rowena Oei Hong Eng suspended for 8 months
SFC, 16-May-2019
Gransing is one of the brokerages in what we call the "Enigma Network", having acted as placing agent for many of its listed companies. The firm was co-founded by Ms Oei and her husband Gerald Que Bon Tan. It is 17.52% owned by China New Economy Fund (0080), a network company. The CNEF accounts state that Gransing Financial Group Ltd (including the brokerage) had an unaudited loss of HK$20.7m in 2018. Ms Oei admitted that she dishonestly crossed orders with an unnamed friend at another firm in 2 stocks (not in the network).
Convoy (1019) sues 4 more
Company announcement, 27-Dec-2017
Convoy sues 28 over fund transfers
HK Standard, 20-Dec-2017
Time2U's time to FU
How much damage can a HK main board company do to its share price within the first year of listing? Try 79.6%, with two full-sized placings under the generous general mandate, one of them at a discount to net cash per share, neither of which was necessary. For Time2U (1327) one year was time enough. (25-Jan-2016)
AMCO United (0630) buys property from GET (8100)Circular
Company announcement, 6-Oct-2015
Actually it is buying a BVI company, Bonus First Group, which owns Unit 503, 5/F Wing On House, for HK$62m in cash, conditional on a placing of new shares via Gransing Securities to pay for it. BFG agreed to buy the property for $53.9m on 8-Aug-2015, but it must have paid HK$4.58m in Double Stamp Duty at 8.5%. This completed on 30-Sep-2015, 6 days before the sale of BFG. There will be no stamp duty on the transfer of the BVI company.
Bubbles and troubles in Hong Kong
Pour yourself a coffee and digest this long article as we investigate several ongoing abusive "open offers" and placings as well as show you who's been making out in multi-billion-dollar bubbles. We call on regulators and rule-makers to take action. (24-Sep-2015)
Barry Lau Wang Chi sub-underwrites 370m shares of Lerado (1225) open offer
Disclosure of interest, 4-Sep-2015
He is a Responsible Officer of Adamas Asset Management (HK) Ltd. The primary underwriter is Gransing Securities Co Ltd.
Capital VC (2324) sub-underwrites 370m shares of Lerado (1225) open offer
Disclosure of interest, 27-Aug-2015
The primary underwriter is Gransing Securities Co Ltd.
SFC reprimands Gransing Securities Co Ltd & Mr Go Mau Ngai for unregistered dealing activities at firm
SFC, 2-Jan-2004
SFC prosecutes Chan Kam Por and Ng King Ming for short selling
SFC, 17-Jul-1997

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