Bank of Communications Co., Ltd. 交通銀行股份有限公司

CSHF (0412) subscribes US$125m of notes issued by a lender
Company announcement, 2-Dec-2019
This is an indirect loan. The owner of the Issuer isn't disclosed. We can reveal that the Borrower is a subsidiary of Kaisa (1638), which recently issued 4-year notes at 11.95% p.a., but CSHF is only getting 7.5% from the Issuer - so how much is the Issuer taking as a spread, and why? Who owns it? What collateral, if any, is the Borrower offering? The issue arranger is a subsidiary of Bank of Communications (3328).
SFC bans Jeff Ye Feng, ex-BOCOM, for life
SFC, 23-Sep-2019
This follows his conviction and jailing in an ICAC case.
Ex-BOCOM (3328) manager gets 17 months for soliciting HK$920k illegal commissions
ICAC, 23-Aug-2018
He appealed against his first conviction but then pleaded guilty on his retrial.
Couple charged with HK$10m mortgage fraud against BOCOM
ICAC, 13-Aug-2018
Ex-VP of BOCOM HK Branch jailed for 15 months for HK$920k kickbacks
ICAC, 7-Apr-2017
SFC fines BOCOM International (Asia) Ltd HK$15m for sponsor failuresSponsorship performance
SFC, 15-Mar-2017
We note that BOCOM International Holdings Co Ltd itself has filed a listing aplication proof on 17-Jan-2017. Its sponsors include its subsidiary. Up to last night, the average 1-year Webb-site Total Return of BIAL's 17 sponsorships was -18.94%, or -21.15% relative to the market.
Ex-VP of BoCom HK charged with soliciting HK$920k illegal commissions
ICAC, 23-Jan-2017
SFC bans Mr Mak Shu Pan for three years
SFC, 2-Apr-2014
China Kingstone (1380): provisional liquidators appointed at controlling shareholder
Company announcement, 25-Oct-2012
The new petitioner is a subsidiary of Sun Hung Kai & Co. Ltd (0086). The previous one is a subsidiary of Bank of Communications Co Ltd (3328). The controlling shareholder is or was owned by Mr Huang Xian You, who was never on the board of the listed company.
Stop the BoCom placing: get a rights issue
We call on SEHK and SSE to stop the big 3 holders from voting to approve each other's subscriptions, which would create a dangerous precedent. Thankfully BoCom has no general mandate, so they also need a special resolution to approve the placing on which they must all abstain. We urge independent shareholders to block it and call for a rights issue instead, and we suggest a way around the primitive NAV rule. (16-Mar-2012)
BoCom's bonus-share tax hit
BoCom (3328) found a nasty wrinkle in China's taxes that resulted in an effective 60% tax rate on its final dividend, because of a tax on bonus shares. Webb-site calls on the Chinese Government to clarify its tax treatment of bonus issues so that there will be no withholding tax, because they are not a distribution of value. Further, it would be better and fairer to abolish the distortive dividend withholding tax and raise corporate tax rates instead. (29-Sep-2011)
SFC/HKMA settlement agreement with 16 banks over Lehman Minibonds, 22-Jul-2009
Company filing, 8-Oct-2010
Bank fraud trial for developer
HK Standard, 7-Aug-2009

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