Tuesday 18th January 2011

Dear Reader,

Trouble and strife at Applied Development
An encrypted Court of Appeal judgment reveals a classic basket case of corporate governance problems at Applied Development (0519) - a case study of what can go wrong with small, family-run HK-listed companies. (18-Jan-2011)

Guangdong Investment's unaccredited MBAs
The Guangdong window company is being run by a board with not one but two MBAs from the same diploma mill. We'll tell you who else among HK-listed companies claims a degree from International East-West University. (18-Jan-2011)

ICBC rights issue - just practising?
We look at the hidden cost of ICBC's mini-rights issue, which raised less than they paid out in last year's dividend. Non-government shareholders could have avoided billions in tax if the bank had just kept the profit instead - unless it plans to cut this year's dividend as well. More likely, the rights issue was just a practise run for something larger next time. (14-Jan-2011)

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