Monday 1st October 2018
Now for some more fireworks.
Breaking: SFC freezes up to HK$10.17bn of assets in 3 brokers
Webb-site has deduced that these are assets of Mr Yang Zhihui, missing Chairman and majority shareholder of Landing (0582), and that he is reasonably suspected of fraud causing losses of HK$10.17bn to China Huarong (2799), the ex-Chairman of which is under a corruption investigation in China. We also turn the spotlight on China Goldjoy (1282) which was an enthusiastic buyer of Landing at prices far higher than its Chairman paid beforehand. (1-Oct-2018)
RECENTLY ON WEBB-SITE
HKEX: shoot patients to prevent illness
HKEX's proposal to suspend and then delist companies with disclaimed audits works against investor interests in several ways while doing nothing to address the root causes of corporate illness. In a partial revival of the 2002 Penny Stocks proposals, the self-interest of HKEX in ditching unprofitable business cannot be ignored. We again call for the regulatory function to be transferred to the SFC and HKEX's monopoly to be abolished. Only when there is competition can they pick and choose their customers. HKEX fails to name the 43 firms that would have been suspended on their 2017 audits. Answers by Tuesday morning, please! (30-Sep-2018)
Concerns grow for endangered species at Fanling
The natural habitat of the lesser-spotted Hong Kong golfer is at risk. (26-Sep-2018)
showed up? A simple change to the Listing Rules
Announcements of AGM/EGM outcomes should include directors' attendance. We shouldn't have to wait for the next annual report to find out who showed up. VOTE NOW!
And much more besides...
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David M. Webb