Thursday 13th October 2016
Alleged hacked BOCI account explains Pa Shun Pharma (0574) surge
A Cyberport-based investment company alleges that an unauthorised person logged into its BOCI account and bought up 4.92% of PSP at an average 36% above the previous day's close, draining its account of about HK$37.7m. The SFC has today commenced a general cybersecurity review on brokers' systems after 16 incidents in the last 12 months involving over HK$100m. (13-Oct-2016)
SFC warns market on CIFG (0412)
Following Webb-site's bubble warning on 26-Sep-2016, the SFC has conducted an ownership investigation. (13-Oct-2016)
RECENTLY ON WEBB-SITE
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)
IN OTHER NEWS
Takeovers Panel upholds ruling on offer for L & A (8195)
Chris Lo Tsz On for one year
For fiddling entertainment expenses at Core Pacific-Yamaichi. After that, he moved to KGI until 8-Oct-2016. He was downgraded from Responsible Officer to Representative on 16-Nov-2015, 6 days after his sentencing to 240 hours of Community Service by Eastern Magistrates' Court.
Donald Tsang faces additional bribery charge
It will be interesting to see whether the alleged briber, Bill Wong Cho Bau, is prosecuted or testifies under immunity.
And much more besides...
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