Friday 1st May 2020

Dear Reader,

Government misled LegCo over COVID-19 broker handout
Applying to the Finance Committee, the Government made claims which it knew or should have known were false and misleading. It was either lying or reckless. Webb-site tells you the truth. (1-May-2020)

Non-dispersable gatherings
We hereby "sternly clarify" that the Police and Secretary for Justice are wrong to claim that groups of 4 standing more than 1.5 metres apart constitute a single gathering if they have a common purpose. The Group Gathering Regulation allows for multiple, non-dispersable gatherings and contain no reference to the purpose of participants. We also show how to optimise use of available space. (28-Apr-2020)

COVID-19: where do we go from here?
HK is essentially clean: data indicate the latest community transmission was 24 days ago. A potential travel network of clean quarantined countries is emerging, but many others are pursuing a mitigation approach, flattening the curve but leading to the likely premature death of 0.5% of their populations unless interrupted by a vaccine or treatment. We find lessons to be learned from HK's early mistakes. HK should maintain its quarantine and its people should now be free to enjoy their city. (27-Apr-2020)

Union Medical Healthcare (2138) issues shares to Champion REIT (2778)Wrong turn for REITs
Company announcement, 29-Apr-2020
Instead of 5 months' rent from March to July 2020, the REIT gets 0.812% of its tenant's enlarged shares at $4.20 per share, valued at HK$33.9m. In our view, REITs should not be investing in the stock market, as we said when we objected to amending the Code on REITs to allow this in 2014. The SFC went ahead and did it anyway.

Webb on "Backchat" re COVID-19, border quarantine, QUIET Area and social controls
RTHK, 29-Apr-2020

And much more besides...
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David M. Webb