Monday 1 February 2016

Dear Reader,

Now you will know what the password is for!

Seeking the wisdom of crowds
Webb-site is proud to launch the World's first crowd-sourced governance ratings system. Now, with a single click, any logged-in user can anonymously contribute to the average rating of an organisation, including listed companies, governments and others. Also we are launching Webb-site Trust Ratings, where users can rate their trust in company directors, politicians, financial advisers or anyone they can find in Webb-site Who's Who. The system will only be as useful as users make it, so let's get started! (1-Feb-2016)

Time2U's time to FU
How much damage can a HK main board company do to its share price within the first year of listing? Try 79.6%, with two full-sized placings under the generous general mandate, one of them at a discount to net cash per share, neither of which was necessary. For Time2U (1327) one year was time enough. (25-Jan-2016)

Government freezes out kindy, primary classes
They can only do this if there is an "immediate danger or immediate risk of danger to persons in any school premises". There is no evidence that schools will be any colder than homes. This is not New York, and the Government has panicked and gone beyond its statutory powers. (24-Jan-2016)

HKSAR v Mak Chai Kwong & Tsang King Man
HK Court of Final Appeal, 29-Jan-2016
The shortest-serving Secretary for Development and his co-accused succeed in their final appeal. Their defence was that although each had sold the other's flat under power of attorney and kept the proceeds, this swap of beneficial interests had been entered into after they had ceased claiming civil service Private Tenancy Allowance for renting each other's flats. Comment: the underlying policy issue here is a flawed system of remuneration, which should not depend on what they do with their income.

And much more besides...
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