Friday 3rd July 2009

Dear Reader,

Belated Happy Handover Day! Only 38 years until the ground lease on most property north of Boundary Street expires. Doesn't time fly?

China Public Procurement
In part 4 of our series on a network of companies, we cover China Public Procurement (1094) which has a long string of over-priced acquisitions from often-anonymous vendors, "earnest money" deposits for deals which don't happen, issues of unlisted warrants and shares for no obvious reason, and gaps in disclsoure. If you own this stock, get out while you can.

Webb on "Backchat" re HK Disney debt restructuring
RTHK, 2-Jul-2009

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