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SFC petitions to wind up Combest (8190)
At last, some real action. Webb-site filed a detailed complaint on this matter with the SFC on 21-Dec-2017. The SFC now alleges over-priced acquisitions identified in our complaint. The sellers were BVI companies the owners of which were not disclosed. The SFC alleges 2 directors and a suspected shadow director, one Mr Ng Kwok Fai, caused losses of HK$293m to Combest. Notably the SFC seeks a winding-up rather than just compensatory orders. They should do this more often - many other companies suspended by the SFC, including Lerado (1225) are in such limbo.