Friday 28th November 2014
Dear Reader,
If you don't want second-class shares with lower voting rights to tarnish the market in HK, please sign the petition to HKEx to keep 1-share-1-vote. E-mail addresses will not be disclosed, only names go to HKEx. The consultation closes on Sunday, so please sign now!
Also, if you want Beijing to offer HK something better than pre-approved CE candidates, then please sign the democracy petition and pass it on to your friends.
NEW ARTICLES
The Joshua-Free Zone
(27-Nov-2014)
Freedom of Speech v Privacy - can public domain information be private?
These are the slides of a presentation by Webb-site founder David Webb to a Year
12 (Form 6) school class today. (25-Nov-2014)
Webb-site CCASS Analysis shows HK through-train holdings and changes
The CCASS data shows total positions held by mainland investors on the
through-train from Shanghai, which are all held through China Securities
Depository & Clearing. Settlement dates are 2 days after trade dates. Click the
column-headings to sort. Click "Changes" to see the daily
movements. (23-Nov-2014)
RECENTLY ON WEBB-SITE
Submission to HKEx on Weighted Voting Rights
Webb-site calls
on HKEx to keep 1-share-1-vote and not to introduce second-class shares or allow
companies to install trapdoors in their articles of association. We also launch
a petition - please sign it if you agree! (21-Nov-2014)
HK Govt proposes to exempt HKEx and subsidiaries from competition law
HK Legislative Council,
24-Nov-2014
Comment: this is outrageous.
There is no reason why the stock and futures exchanges, and their clearing
houses, should be exempt from the law. These are commercial activities and HKEx
should not be allowed to defend their monopolies with anti-competitive
practices. HK Govt owns nearly 6% of HKEx.
IN OTHER NEWS
Concentration warning in Loco HK (8162).
CCASS changes since listing
SFC, 27-Nov-2014
Police arrest seven police officers for assault occasioning actual bodily harm.
Video
HK Government, 26-Nov-2014
Note: it says "arrested". No charges have been laid, 42 days after the
15-Oct-2014 beating. Victim Ken Tsang Kin Chiu did not turn up at an
identification parade - but then it is rather unlikely that he would be able to
recognise the people who carried him, horizontally face down, to a dark place
where they beat him up.
Freeman (0279) circular reveals investment in subsidiary by NIF (1227)
Company circular, 26-Nov-2014
Page 18 shows
that NIF invested HK$59.85m for 21m shares (1.67%) in Freeman Corporation Ltd,
which, upon completion of the investment by Forefront (0885), will be 60.52%
owned by Freeman. It joins Willie (0273), Dragonite (0329) and ICube (0139). All
6 companies are in what we call the "Chung Nam Network". NIF invested 1 day
after completing a placing of new shares to raise $89.58m, arranged by HEC
Securities Ltd, another multi-owner venture in the network.
18 more
Jockey Club telebet staff charged with HK$53k sick leave fraud
ICAC, 26-Nov-2014
That makes 25 so far.
Kay Kan Lai Kwan v Otto Poon Lok To
HK Court of
Final Appeal, 24-Nov-2014
The final order on quantum and costs.
HK Zhongxing Group Co Ltd v Grand Field (0115)
HK Court of First Instance, 20-Nov-2014
Regarding the pending
derivative action against Wayland Tsang Wai Lun & Nancy Kwok Wai Man. Grand
Field has now agreed to proceed.
Ex-PrimeCredit
employees jailed for illegal rebates scam
ICAC,
19-Nov-2014
PrimeCredit is ultimately owned by Standard Chartered plc
(2888), which has been trying to sell it.
Policeman
gets 15 months for leakage of confidential information
ICAC, 18-Nov-2014
And much more besides...
Remember that, apart from our occasional
artisan articles, you can follow Webb-site Reports via RSS,
Twitter, or
Facebook.
Pass it on!
This free newsletter goes to over 20,000 subscribers. If you enjoy the site, then please
invite a friend to find out
what they are missing and subscribe!