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3 accountants among 9 arrested by ICAC for alleged bribery over listing of Macao construction firm | FRC announcement
ICAC, 22-Nov-2021
Webb-site Who's Who indicates that the firm is almost certainly Huarchi Global (2296), which shares a HK office with its auditor Wellink CPA Ltd and is chaired by Lou Cheok Meng. The Accountants' Report in the prospectus was signed by Opal Chan Yan Ting, MD of Wellink. The stock was suspended last Friday and looks like a bubble to us, on 8.6x NAV and a P/E of 109. Wong Yat Chung was CFO from 2018 until the end of 2020 when he was replaced by Chan Wai Lun. The listing was sponsored by Ample Capital Ltd. Wellink is currently the auditor of 3 other listed companies.
Organisations
- Accounting and Financial Reporting Council 會計及財務匯報局
- AMPLE CAPITAL LIMITED 豐盛融資有限公司
- HUARCHI GLOBAL GROUP HOLDINGS LIMITED 華記環球集團控股有限公司
- WELLINK CPA LIMITED 匯聯會計師事務所有限公司
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