Friday 28th November 2014
If you don't want second-class shares with lower voting rights to tarnish the market in HK, please sign the petition to HKEx to keep 1-share-1-vote. E-mail addresses will not be disclosed, only names go to HKEx. The consultation closes on Sunday, so please sign now!
Also, if you want Beijing to offer HK something better than pre-approved CE candidates, then please sign the democracy petition and pass it on to your friends.
The Joshua-Free Zone
Freedom of Speech v Privacy - can public domain information be private?
These are the slides of a presentation by Webb-site founder David Webb to a Year 12 (Form 6) school class today. (25-Nov-2014)
Webb-site CCASS Analysis shows HK through-train holdings and changes
The CCASS data shows total positions held by mainland investors on the through-train from Shanghai, which are all held through China Securities Depository & Clearing. Settlement dates are 2 days after trade dates. Click the column-headings to sort. Click "Changes" to see the daily movements. (23-Nov-2014)
RECENTLY ON WEBB-SITE
Submission to HKEx on Weighted Voting Rights
Webb-site calls on HKEx to keep 1-share-1-vote and not to introduce second-class shares or allow companies to install trapdoors in their articles of association. We also launch a petition - please sign it if you agree! (21-Nov-2014)
HK Govt proposes to exempt HKEx and subsidiaries from competition law
HK Legislative Council, 24-Nov-2014
Comment: this is outrageous. There is no reason why the stock and futures exchanges, and their clearing houses, should be exempt from the law. These are commercial activities and HKEx should not be allowed to defend their monopolies with anti-competitive practices. HK Govt owns nearly 6% of HKEx.
IN OTHER NEWS
Concentration warning in Loco HK (8162). CCASS changes since listing
Police arrest seven police officers for assault occasioning actual bodily harm.
HK Government, 26-Nov-2014
Note: it says "arrested". No charges have been laid, 42 days after the 15-Oct-2014 beating. Victim Ken Tsang Kin Chiu did not turn up at an identification parade - but then it is rather unlikely that he would be able to recognise the people who carried him, horizontally face down, to a dark place where they beat him up.
Freeman (0279) circular reveals investment in subsidiary by NIF (1227)
Company circular, 26-Nov-2014
Page 18 shows that NIF invested HK$59.85m for 21m shares (1.67%) in Freeman Corporation Ltd, which, upon completion of the investment by Forefront (0885), will be 60.52% owned by Freeman. It joins Willie (0273), Dragonite (0329) and ICube (0139). All 6 companies are in what we call the "Chung Nam Network". NIF invested 1 day after completing a placing of new shares to raise $89.58m, arranged by HEC Securities Ltd, another multi-owner venture in the network.
Jockey Club telebet staff charged with HK$53k sick leave fraud
That makes 25 so far.
Kay Kan Lai Kwan v Otto Poon Lok To
HK Court of Final Appeal, 24-Nov-2014
The final order on quantum and costs.
HK Zhongxing Group Co Ltd v Grand Field (0115)
HK Court of First Instance, 20-Nov-2014
Regarding the pending derivative action against Wayland Tsang Wai Lun & Nancy Kwok Wai Man. Grand Field has now agreed to proceed.
employees jailed for illegal rebates scam
PrimeCredit is ultimately owned by Standard Chartered plc (2888), which has been trying to sell it.
gets 15 months for leakage of confidential information
And much more besides...
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