Monday 15 February 2016
Kung Hei Fat Choy! Let the year of the monkey business begin!
Home Shan't Be China
HSBC's decision to stay put is unsurprising, not just because of the reduced UK bank levy, but because of the risks of moving to what is increasingly seen as one country rather than two systems. (15-Feb-2016)
RECENTLY ON WEBB-SITE
HKEx and the kind of innovation we don't need
Has HKEx CEO Charles Li learned nothing from last year? A third-class board for third-class companies is not the way to go. It's time to merge the GEM and Main Board and execute the Expert Group recommendation of 2003, moving the Listing Rules regulation to the SFC. One Board, One Rule. (2-Feb-2016)
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)
IN OTHER NEWS
SFC bans Chow Chi Keung, ex-Wocom, for life
China Jinmao (0817) Chairman under investigation
Company announcement, 10-Feb-2016
Ex-Tai Po District Council member jailed after appeal dismissed
US citizenship in quarter to 31-Dec-2015
US Federal Register, 8-Feb-2016
Including one Theresa Y Y Tse, presumably the Chairman of Sino Biopharmaceutical (1177).
Secretary for Justice v Ian Francis Wade
HK Court of Appeal, 5-Feb-2016
The sentence for the former A.S. Watson MD, who went on a 35-minute drink-driving binge from North Point to Tai Tam Road at 3.36 times the legal limit, with 4 collisions along the way, is increased from a HK$30k fine to 6 months jail, but suspended for 2 years.
Concentration warning in Jujiang Construction (1459)
Comment: unlike the GEM, the Main Board Listing Rules do not require any statement of the distribution of placing shares at the time of listing. 90% of the issue was placed, probably in concentrated hands, but no disclosure was required before trading began on 16-Jan. The main board rules should adopt the GEM requirement, disclosing how many shares went to the largest, top 5, top 10 and so on.
censures Goldman Sachs for breaches of the Takeovers Code
China Metal Recycling (0773) will not be recycled
Company announcement, 2-Feb-2016
The listing is cancelled, and into the trashcan of stockmarket history goes HK$11.09bn of market value, at the time of suspension.
Webb on RTHK Newswrap re West Kowloon-Shenzhen railway
And much more besides...
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