Friday, 24th March, 2006

Dear Reader,

It's been a while, hasn't it?

NEW ARTICLES
Blackout on Receivables (24-Mar-06)
If you saw the lights dim recently, it was because the Stock Exchange scrapped a requirement for listed companies to disclose large accounts receivable, which could have warned investors about impending disaster. Dressed up as a "minor and housekeeping" rule amendment without consultation, the change is illustrative of the urgent need to increase investor representation on the Listing Committee, to produce pro-investor policy reform. And that's where HK needs your help.
http://webb-site.com/articles/receivables.asp

Bubble Rap: Kanstar (24-Mar-06)
We renew our bubble warning on Kanstar Environmental Paper Products (8011), which is trading on a price/book ratio of 23.5 and barely made a profit last year.
http://webb-site.com/articles/kanstar2.asp

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David M Webb
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