Thursday 18th December 2014

Dear Reader,

Remember that, apart from our occasional newsletters, you can follow the latest Webb-site Reports via RSS, Twitter or Facebook. And now, in celebration of tomorrow's 30th anniversary of the signing of the Joint Declaration:

Government changes Basic Law facts
In a Webb-site exclusive, we reveal that the HK Government has revised its own fact sheets on the Basic Law with politically sensitive consequences. (18-Dec-2014)

An aerial tour of HK's monopolies and anti-competitive practices
The slides from a presentation by Webb-site founder David Webb to the Asian Competition Forum at Polytechnic University this morning. When you get to slide 30, click the box to launch the online video. (9-Dec-2014)

Moving on from Occupy to the Central Issue
The protesters have overstayed their welcome in Admiralty. They should withdraw and set a new deadline for C Y Leung to do the right thing: send a new report to the NPCSC, recommending restoring the nomination threshold to 12.5% from 50%. That would achieve free and fair elections without civic nomination. After all, only 305 members of the 1200-member committee nominated him in 2012. A New Year's Day march should celebrate or protest his choice. Sign the petition! (7-Dec-2014)

The right to remember: keeping public data public
The slides from a speech by Webb-site founder David Webb to the AGM of the Hong Kong Library Assocation tonight. (5-Dec-2014)

Sasa Mus, ex-Happy Valley AA, gets 12 months for match-fixing
ICAC, 15-Dec-2014

Chan Ping Che v Gunter Gao
HK Court of Appeal, 15-Dec-2014
The Court of Appeal grants a stay of the judgment below, allowing Mr Gao to defend the case of the $270m bounced cheques if he pays HK$30m into court within 14 days. "it seems to us that absent a stay, it would be open to the plaintiff to seek to enforce it and that this would have serious consequences for the defendant, including possible bankruptcy". Mr Gao is a member of the CPPCC National Committee and the HKSAR Election Committee.

Aviation Fuel Supply Co v Inland Revenue
HK Court of Final Appeal, 15-Dec-2014
The Inland Revenue loses its appeal.

Joseph Lau to buy property shell from Chinese Estates (0127), avoiding HK$669.8m Double Stamp Duty
Company announcement, 12-Dec-2014
The property is valued at HK$7.88bn, but he is buying the BVI company that owns it. This avoids 8.5% Double Stamp Duty, an interventionist Government tool which many can legally avoid, unless they need to buy bare property without a corporate wrapper.

Asia Energy Logistics (0351) plans toxic convertibles
Company announcement, 12-Dec-2014
The subscriber would convert at 80% of the lowest 3-day average in a 45-day window prior to its chosen conversion date, as long as the resulting conversion price exceeds $0.01. This type of convertible is also known as a "death spiral convertible" because the number of shares increases as the share price falls, and the expected dilution can cause it to fall further.

SFC bans Lee Wai Keung, ex-Glory Sky Global Markets, for 12 months
SFC, 11-Dec-2014
He traded through his sister-in-law's account for 6 years.

SFC suspends Dick Ma Tor Fuk, ex-ICBC, for 8 months over Powerlong (1238) IPO
SFC, 10-Dec-2014
This follows a HK$25m fine on ICBC International in May-2014.

Webb on "Backchat" re next steps for Umbrella Movement
RTHK, 10-Dec-2014

Dr Chan Po Sum v Medical Council of HK
HK Court of Appeal, 9-Dec-2014
Dr Chan loses his appeal. The MCHK found him guilty of professional misconduct. He was suspended for 1 month.

Re David Gerard Goldberg QC
HK Court of First Instance, 9-Dec-2014
The Bar Association succeeds in preventing Mr Koo Ming Kown and Mr Tadao Murakami from using an overseas senior barrister at the Inland Revenue Board of Review.

Ex-IO Chairman of Jade Plaza gets 18 months for pocketing HK$390k
ICAC, 8-Dec-2014

Shine Grace Investment Ltd. V Citibank N.A. & Hailey Amy Mak Seen-kwan
HK Court of First Instance, 5-Dec-2014
An accumulator case rumbles on.

And much more besides...
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