Thursday 17th April 2014

Dear Reader,

One of the features of Webb-site Who's Who is complete data on HK incorporations since 1865 (for which records still exist). We can now report that a record 2,819 companies were incorporated on Monday 31-Mar-2014. This was the last day of the Inland Revenue's HK$2000 business registration fee waiver.

Ombudsman discloses more information
Following pressure from Webb-site, the Ombudsman has today published a summary of the submissions received during its investigations on Access to Information and keeping public archives. The submissions show strong support for legislation. Meanwhile, the wheels at the Law Reform Commission are slowly turning and covering similar ground. (17-Apr-2014)

Give public access to ALPs
We need your help! The SFC is proposing to ban retail investors from accessing Alternative Liquidity Providers, which could provide faster and better execution than just placing the order with SEHK. Webb-site urges the SFC to give the public the same options that institutional investors enjoy. They almost did with HSBC's ill-fated Stockmax. We also urge the Government to abolish SEHK's statutory monopoly and allow competition to drive down fees and innovate. (15-Apr-2014)

Jump for joy - MPF is taking more
A careful analysis of a poster we received in the mail leads us to only one conclusion... (15-Apr-2014)

Quat's degrees don't equate
Legislator "Dr" Elizabeth Quat has not one but three "degrees", including her doctorate, from a defunct degree mill once run out of a bungalow in Hilo, Hawaii. We also look into the characters behind it. (11-Apr-2014)

AIA/SCB trio in court for alleged insurance policy and commissions fraud
ICAC, 17-Apr-2014

Trio in court for allegedly defrauding HK$2.3m Wing Hang Bank loans
ICAC, 16-Apr-2014

Highail Co Ltd & Chung Po Chuen v Director of Lands
HK Lands Tribunal, 15-Apr-2014
In a URA compulsory purchase, the tribunal rules in favour of separate owners of neighbouring lots, at 213-215 Yee Kuk Street, that the development potential of combining the lots must be included in the buyout price. Neither of them would be a willing seller if their lots were valued on a stand-alone basis.

Survey on Alibaba & non-standard shareholding structures
Asian Corporate Governance Association, 15-Apr-2014
Managers of over US$14tn respond that if HK allows non-standard shareholding structures then it can expect a discount of 13% to be applied to the market.

And much more besides...
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