Monday 12th April 2010
Who's who in HK's elite
Webb-site.com today launches a new database feature, with past and present membership of the hundreds of statutory and advisory bodies appointed by the Government, as well as the Election Committee, Executive, Legislative and District Councils, adding to our database of listed company directors. If your organisation is important, but not a listed company or government body, then help us add it to the database.
HKEx AGM: veto item 7
We urge shareholders of HKEx (0388) to veto a proposed change to the Articles of Association which would damage good governance and facilitate the stifling of dissenting views. We speak from first-hand experience. HKEx is setting a bad example to the companies it regulates, and the rot should stop now. In passing, we also cast an eye on the ongoing CITIC Pacific case. (11-Apr-10)
Cooked auctions in HK
A Court of Appeal judgment overturns fraud convictions for bid-rigging for cooked food stalls at Tai Po Hui Market and makes clear that bid-rigging is perfectly legal. We call for the proposed competition law to make bid-rigging, price-fixing and other anti-competitive behaviour criminal offences. Civil tribunals won't cut it, not least because they cannot fine humans. In the meantime, the Government should include no-rigging warranties as a requirement for all tenders, so that they can prosecute for fraud. (8-Apr-10)
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