Tuesday 11th October 2016

Dear Reader,

Pass the cyclotrons
Starting in the basement of St Teresa's Hospital, visiting the Science Park and analysing 12 years of transactions with some lucky disclosure on BVI owners, we follow the movements of 2 cyclotrons in and out of listed companies and show you where the money was made and lost. (11-Oct-2016)

Hiding behind the cornerstones
Webb-site reveals that investors who took 31% of a bank IPO had secretly laid off their risk by issuing derivatives to a mainland property developer from the same city, via two HK-listed companies which incidentally are bubble stocks. When we complained, HKEX did not require disclosure of the bank’s identity, thereby preserving the secrecy behind the cornerstone investors which facilitate HKEX’s IPO business. Once again, the regulatory conflict of interest is exposed. (3-Oct-2016)

Donald Tsang faces new bribery charge
RTHK, 11-Oct-2016

DX.com (8086) buys money-lender from AMCO United (0630) for HK$58.3mAMCO announcement
Company announcement, 7-Oct-2016
Of course, AMCO has set up another money-lender, JS Finance Ltd, and doesn't need two of them to lend out its shareholders' funds.

SFC seeks compensation and disqualification orders against Freeman (0279) directors
SFC, 7-Oct-2016
At last, a bit of action on part of what we call the "Chung Nam Network". The SFC is pursuing 4 current and 8 former directors.

HKICPA fines Eliza Yuen Suk Ching & Clement Leung Tai Keung HK$70k & $50k respectively
HKICPA, 7-Oct-2016
This relates to the 2012 accounts of China Investment Development (0204). HLM & Co has now incorporated as HLM CPA Ltd.

O-Net (0877) stops having co-Chairmen
Company announcement, 7-Oct-2016
This follows our complaint to HKEX on 23-Sep-2016 that the Articles of Association only allow for 1 Chairman. O-Net has had 2 co-Chairmen since it was listed.

Webb on "Backchat" re taxes and Trump
RTHK, 6-Oct-2016

SFC bans Chen Chia Hui, ex-HSBC, forever
SFC, 5-Oct-2016
This is a follow-on from an ICAC case.

Concentration warning in Gold-Finance (1462)
SFC, 4-Oct-2016
Comment: net tangible assets at 31-Mar-2016 were $0.635/share, and EPS was $0.0481, so at today's closing price of $12.56, the stock is at 19.8x NTA and the P/E ratio is 261.

And much more besides...
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