Tuesday 30th April 2019
Dear Reader,
NEW ARTICLE
Stop
the Scripless U-turn
Investors were in the dark for 4 years
about plans to tear up a model that was first recommended by the Hay Davison
Report in 1988, has worked in Australia since 1999, and was legislated in HK in
2015 but never actioned. Our extensive discussions with SFC and HKEX reveal no
legitimate issues. We urge legislators to reject this U-turn and the SFC to
proceed with the legislated model. The stench of vested interests is
overpowering. (30-Apr-2019)
RECENTLY IN WEBB-SITE REPORTS
Enigma
fallout: the social media fund
We piece together
disclosures by 4 listed companies in the Enigma Network to reveal a pseudo-fund
which held a single 55% stake in a social media company, posing new questions
for the regulators. (28-Apr-2019)
Putting
the dot back in HK
A deep dive into HK's "not-for-profit"
internet domain registry reveals appalling governance, over-charging, continuing
conflicts of interests and a severe case of corporate obesity. In late 2015,
having hoarded enough cash to run the registry for 9 years, the
Government-controlled board reversed a fee cut, losing a quarter of registered
domains over the next 3 years, while seeking ways to squander the surpluses on
mission-creep rather than return the cash to users. There is a better
way. (25-Apr-2019)
IN OTHER NEWS
Win Win Way (0994) flaunts connections of new directors
Company announcement, 26-Apr-2019
At least
they are open about the fact that Ms Du Yi is the daughter of Du Zhongyuan, "one
of the renowned revolutionary martyrs" and Ms Yip Man Shan (aka Ye Wenshan) is
the daughter of Ye Jianying (ex-Marshal of the PLA and Chairman of the NPC
Standing Committee).
And much more besides...
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David M. Webb
Editor, Webb-site.com