HKSAR v Sammy Ma Hon Kit & Cordelia Tso Kin Wah
HK Court of Final Appeal, 18-Mar-2011
CFA upholds insider dealing convictions
SFC, 15-Mar-2011
Court of Appeal upholds 2 out of 3 insider dealing convictions
SFC, 12-Oct-2010
HKSAR v Sammy Ma Hon Kit, Cordelia Tso Kin Wah & Ronald Ma Chun Ho
HK Court of First Instance, 12-Oct-2010
First jail sentence for insider dealing in Hong Kong
SFC, 1-Apr-2009
Five convicted of insider dealing in landmark trial
SFC, 11-Mar-2009
Insider dealing case transferred to District Court
SFC, 17-Mar-2008
Five face charges of insider trading
HK Standard, 29-Feb-2008
First criminal prosecution for insider dealing
SFC, 28-Feb-2008
Almost 5 years after insider dealing became a criminal offence!
Egana and Upbest
Following this week's charges by the ICAC against certain directors of Upbest (0335), looks at the connections between EganaGoldpfeil (0048) and Upbest, and we don't like what we see. There's a mixture of out-and-back profit-generating transactions, innovative accounting policies, investments in closed-end funds, interest-free "deposits", rolling promissory notes and yes, an aborted gas transaction in the PRC. Are we looking at the next Moulin here? (26-Jul-2007)
CSFB's Toxic Convertibles 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)

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