TongChuang Holdings Limited 同創控股有限公司

HK's stamp duty addiction
We look at the HK Government's opium-like addiction to stamp duty revenues, which have more than quintupled in 7 years. The budget asks for another fix. Stamp duty is sand in the wheels of the economy, distorting economic decisions and reducing economic output. It should be abolished rather than increased further. Higher stamp duty does not improve property affordability. HK needs a root-and-branch review of taxation to refocus on fair taxation of GDP rather than one-off measures and distortive policies. (2-Mar-2010)
Fortis Insurance Co (Asia) Ltd v Betty Liu
HK District Court, 9-Feb-2010
Fortis Insurance Co (Asia) Ltd v Betty Liu
HK District Court, 31-Dec-2009
PCCW - Grounds of Appeal
In our view the judgment in the Court of First Instance on PCCW's scheme of arrangement and the alleged vote-rigging provides ample grounds for appeal. We look at the ruling in detail and where the SFC may be taking this case on Thursday at the Court of Appeal. (13-Apr-2009)
Re PCCW Limited scheme of arrangement
HK Court of First Instance, 6-Apr-2009
PCCW clarification announcement
Company announcement, 3-Feb-2009
Comment: PCCW's inquiries into the alleged vote-rigging "include a review of the share register" which "will take time to complete". Surely this review should be conducted by the SFC which, unlike PCCW, does not have a conflict of interest in the matter.
Vote-rigging plan for PCCW meeting has discovered compelling evidence of an attempt to rig the shareholder vote in the proposed privatisation of PCCW Ltd, involving hundreds of new holders of one board lot each, many of whose names match insurance agents of Fortis Asia, a former fellow subsidiary of PCCW. (1-Feb-2009)
Accounting error and restatement of results
Company announcement, 24-Jan-2006

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