King, Pak Fu 景百孚

Hiding behind the cornerstones
Webb-site reveals that investors who took 31% of a bank IPO had secretly laid off their risk by issuing derivatives to a mainland property developer from the same city, via two HK-listed companies which incidentally are bubble stocks. When we complained, HKEX did not require disclosure of the bank’s identity, thereby preserving the secrecy behind the cornerstone investors which facilitate HKEX’s IPO business. Once again, the regulatory conflict of interest is exposed. (3-Oct-2016)
Forefront (0885) buys 40% of Easy Talent Ltd from Smart Masterly Ltd for RMB65.6m
Company announcement, 24-Apr-2015
The other 60% is owned by Winsino Investments Ltd, but the announcement doesn't say who owns that. We can tell you it is owned by Enterprise Development (1808). That firm is 28.63% owned by Mr King Pak Fu, who also owns 70.71% of Forefront. The announcement also doesn't say who owns the vendor. We can tell you that the vendor acquired the stake from ED for RMB50m in late 2012, at which time Smart Masterly was owned by Shenzhen-listed United Electronics (SZ:002642).

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