Monday 20th June 2011
Real Gold, XING, QXM and Prod-Art
What has Wu Ruilin, the controlling shareholder of Real Gold Mining, been up to? We take you through the latest shenanigans, worry about his overseas listings, and take a look at his past history in the HK market, which dates back to 1998. (20-Jun-2011)
RECENTLY ON WEBB-SITE
Nine Dragons spotlights SFC regulation of CRAs
Today's plunge in Nine Dragons (2689), sparked by a withdrawal of a credit rating, raises questions about the new SFC regulations of Credit Rating Agencies. CRAs have privileged access to inside information and a contractual relationship with issuers. The SFC should prohibit them from publishing price-sensitive news during market hours. (14-Jun-2011, updated 19-Jun-2011)
In a 4-bank survey, Webb-site looks at the wide spreads and differing prices offered by HK banks to residents for exchange between HKD and CNH, the offshore proxy for the mainland CNY. (13-Jun-2011)
IN OTHER NEWS
Donald Tsang visits CITIC Pacific mine in Australia. Video
HK Government, 19-Jun-2011
Mr Tsang said "A Hong Kong listing also helps raise the profile and reputation of the firms in Mainland China." Um, not if you are CITIC Pacific, still under investigation over false and misleading disclosure in 2008 relating to its Australian dollar accumulator losses. Will charges ever be brought?
Various buyers of One Beacon Hill v subsidiary of Cheung Kong (0001)
HK Court of Final Appeal, 16-Jun-2011
Cheung Kong is refused leave to appeal by the CFA. Game over.
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