Sunday 1st February 2009

Dear Reader,

Kung Hei Fat Choy! The year of the ox is here. Focus on cash-cows, don't just follow the herd, and don't be a bull in the China shop. Above all, tried to avoid the cowboys in the Hong Kong market or they will have your hide.

Vote-rigging plan for PCCW meeting has discovered compelling evidence of an attempt to rig the shareholder vote in the proposed privatisation of PCCW Ltd, involving hundreds of new holders of one board lot each, many of whose names match insurance agents of Fortis Asia, a former fellow subsidiary of PCCW. (1-Feb-2009)

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David M Webb