Monday, 7th August 2006

Dear Reader,

And another one bites the dust - the SFC today shut down a 3rd brokerage in 3 months - now will they make those Segregated Stock Accounts mandatory? How many other brokerages have "misappropriated" client stock from time to time and then replaced it without being spotted?

Now on to today's story:

NEW ARTICLE
OOIL: How NOT to Disclose (7-Aug-06)
Tung family shipping company Orient Overseas (0316) provides a textbook example of how NOT to disclose price-sensitive information: by slipping it out on your web site. If investors are to believe in a level playing field, then OOIL should be held to account under the Listing Rules for this behaviour.
http://webb-site.com/articles/OOILslick.asp
 

RECENTLY ON WEBB-SITE.COM
Ocean Grand Shipwreck (31-Jul-06)

By popular request, we give our comments on the Ocean Grand debacle. The warning signs of bad governance or worse were there for years, but few picked up on them. We conduct a detailed autopsy, and find plenty of material for regulators and police investigators to get their teeth into. We also look at the characters involved with the companies and what this says about the state of battle for shareholder rights in HK.
http://webb-site.com/articles/oceangrand.asp

Trust, but Verify (21-Jul-06)
Webb-site.com proposes a solution to reduce the recurrent problem of brokerage failures, while at the same time improving communications with shareholders and retail investor participation in corporate governance, bringing HK up to international standards.
http://webb-site.com/articles/trustbutverify.asp
 

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7-Aug-06