Wednesday 4th January 2012
Happy new year! It's good to be back.
Hong Kong's electricity tax
The Government and the power companies are playing politics with the tariff, tilting it to tax larger residential consumers in order to subsidize the tariff for smaller ones. We call for a single flat-rate residential tariff and for it to be brought into line with the commercial tariff. Why should people be penalised for living together rather than on separate meters, or for spending more time at home, and why should they pay more than commercial users for the same amount of electricity? (4-Jan-2012)
CLP's small print:
tariff rise is 8.4%, rebate is conditional
We look at the detail in CLP's 2012 tariff increase and the corresponding court case which HK Electric won. If CLP does not win its case, or if the amount of refund of Government rates and ground rent is smaller than expected, then the rebate will have to be clawed back in future tariffs. In any case, the rebate will be of limited duration as it relates to a lump sum. (4-Jan-2012)
LGT Investment Management (Asia) Ltd drops 24 reps on xmas eve
Reducing licensed headcount by 32% to 52. (31-Dec-2011)
Real Gold Mining
appoints INED with dodgy PhD
Ever heard of InterAmerican University? Li Xiaoping has - he's been awarded a PhD by this diploma mill. He's not the only HK-listed director with a degree from this place either. (19-Nov-2011)
IN OTHER NEWS
Anthony Wu Ting Yuk in HKICPA disciplinary proceedings
Political heavyweight Hospital Authority, HKGCC and Bauhinia Foundation Chairman Anthony Wu Ting Yuk and Ernst & Young (HK), the firm he chaired until 31-Dec-2005, top the list as the longest-outstanding disciplinary case of the HKICPA at 30-Nov-2011. Past or present E&Y partner Catherine Yen Kai Shun is involved in the same case, which has been running since 9-Dec-2009.
CITIC Pacific Ltd v Secretary for Justice & Commissioner of Police
HK Court of First Instance, 19-Dec-2011
"Backchat" re private recreational leases
Zhongda (0909) considers suing suspended directors
Company announcement, 16-Dec-2011
Total lunar eclipse 2011,
as seen from Hong Kong
By David Webb. Crank up the volume - just for fun!
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